The numbers don’t lie. Employee turnover costs companies money. A lot of money. According to the Society for Human Resource Management (SHRM), it costs $3,500 to replace an $8.00 per hour employee… and their figures are at the low end compared to other organization’s reports. Imagine what those costs become when it’s a $60,000 per year employee! Between recruiting, interviewing, hiring, training, time lost while the new hire gets acclimated, etc., it’s easy to see the real value in keeping your good employees. And, 84% of employees are planning on searching for a new job this year. So how does a company keep these valuable team members?
Competitive pay, of course, is a top requirement to retaining employees, however there are many other ways to earn the loyalty of your top performers. One of the most effective strategies is an employee rewards program, which can be easily implemented through a branded merchandise store.
Whether you want to gift every staff member, provide incentive programs where employees accumulate points, celebrate birthdays and anniversaries with gift cards or offer company branded apparel at a discount to employees, the ROBYN company stores can be customized to meet your specific needs. But why a branded e-store? Wouldn’t gift cards be easier?
Giving a gift card from a local retailer to an employee as a reward might appear to be an easier, more efficient way to recognize your employees, but consider this: 2 minutes after the recipient uses the gift card, your gift is gone. And with it goes that sense of appreciation.
However, when a company gives their employees premium branded items as rewards, incentives or appreciation gifts, the brand lives on… and so does the reason for the gift. Taking it one step further, giving the employee a choice of premium items with your company logo on it gives the recipient the opportunity to pick a gift that fits the individual’s lifestyle.
Many of our savviest clients have latched onto this concept with tremendous results. Not only do the employees walk away with a reward that fits their interests and style, but they carry that feeling of appreciation or accomplishment with them. Plus, because ROBYN handles all the details (technology, warehousing, fulfillment, etc.), our clients are not bogged down with them. They are free to focus on other strategic aspects of their business.
Posted on Fri, February 15, 2013
by Brian Blake