Pay It Forward

PayItForward

 

 

 

 

 

 

 

 

 

 

While I’ll be the first one to admit the summer is moving too fast – we have to be honest with ourselves and acknowledge that the holidays will be here before we know it.

For many of us the holidays are about giving. And while many reward and recognition programs see an increase in redemption for rewards during this timeframe (with redemption often being synonymous with holiday shopping) – it’s not always about the “stuff.”

Allowing employees the opportunity to redeem points for items with a charitable component can go a long way for both the employer and the employee. There are various ways to do this including:

  • Offering specific products in the award selection that when redeemed – the manufacturer makes a donation to a designated cause
  • Allowing participants to redeem points for a “gift card” that facilitates a direct donation to the charities of their choice
  • Allowing employees to redeem points for time out of the office for an approved volunteer opportunity (e.g. Habitat for Humanity, United Way Day of Caring, etc.)

A major benefit of incorporating social responsibility into your company culture is that employee engagement, loyalty, and productivity increase in companies that do so properly.

At All Star, social responsibility is one of the six main disciplines in our wellness program. Employees are given the opportunity to participate in committees. The social responsibility committee works together to find opportunities for employees to volunteer, donate, and participate. Not only does the company give the employees a voice in how they can contribute but also the means to do so within and outside of our workday – which is a critical component to making it work.

And while the holidays tend to be a reminder about the spirit of giving – the pay it forward concept can and should be included year round into both a company’s culture and its reward and recognition programs.

Check out this article from Incentive Magazine that offers the Top 10 Ways to Use CSR to Motivate Employees.

In economic terms, the multiplier effect refers to the proportional increase or decrease in final income that results from an injection or withdrawal of capital. In terms of Safety Reward Programs, the multiplier effect might refer to the ROI² (Return on Incentive Investment). A properly structured program significantly impacts overall employee engagement and safety culture, where employees are attuned to safety-related issues, inspired to display “Above & Beyond” safe behaviors, willing to be safety ambassadors, and encouraged to promote learning and support continuous improvement. Such best-in-class programs are designed to promote group objectives and reward individual behavior, engaging, motivating, and rewarding the people behind your success.
 

Fortunately, there are thousands of companies in high-risk industries that have excellent safety programming, training, and coaching in place. Many include safety in their list of core values and have invested heavily in EHS (Environment, Health, and Safety) technology, training, telematics, and personnel. However, too many miss the opportunity to incentivize and recognize individual safety contributions, behaviors, and performance.
 

Programs featuring tangible and experiential awards as the reward currency can have a multiplying effect that pays dividends. Benefits include a more highly engaged workforce, fewer accidents and incidents, reduced claims and losses, lower turnover and absenteeism, better communication, increased productivity, visibility to leading and lagging indicators, incremental coaching and training opportunities, and improved profitability.
 

So, what’s the rub? Are engagement programs focused on employee safety, health, and wellness expensive to implement? Do they only make sense for companies with thousands of safety-sensitive workers? The answer to both questions is no. Properly structured programs can be cost-effective and right-sized for companies with as few as 100 safety-sensitive workers up to those with 10,000 or more. The ROI² of these programs can be expressed as a ratio (in this case, 4:1), with quantitative results showing a savings of $4.00 for every $1.00 invested and qualitative results revealing higher employee morale, which serves as a catalyst for productivity. Safety Reward Programs help to mitigate risk, elevate employee engagement, and improve overall safety culture. They also present an excellent opportunity for companies to simply say thank you to their employees for being safe, committed, and engaged.
 

People have an inherent need to know that their efforts do not go unnoticed. Safety Reward Programs provide the stimulus and energy that encourage employees to perform at their best and achieve new heights.

tara

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