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Lockdown incentives: how employers are rewarding staff in the Covid era

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Employers are putting local at the heart of their incentive and reward strategies in the pandemic era, suggests fintech Miconex. The Scottish firm received over £440,000 in corporate orders for its local Town and City Gift Card programmes in the UK and Ireland in 2020.

The IRF found that around 81% of UK companies offer non cash rewards to staff with 71% having incentive and reward budgets of £100,000 and under. In 2020, the GCVA reported that B2B gift card sales grew by 26.3%, with employee benefits accounting for two thirds of these sales.

The pandemic related impact on employee benefits and rewards was swift with a May 2020 Willis Towers Watson report suggesting that two fifths of employers had made, or planned to make, changes to their benefits programme as a result of covid-19. 

The report also found that half of employers believed covid would have a moderate to large impact on employee wellbeing, including physical and emotional health, social connections and financial wellbeing. Fast forward to 2021, and 42% of employers say their health and wellbeing programmes need to change to support the changing needs of their employees.

One of the companies rewarding staff with a local gift card is ingredients manufacturer and solutions provider to the global flavour, fragrance and consumer goods markets, Treatt, who cite the economic and societal impact of the pandemic as a pull factor to purchasing a Bury St Edmunds gift card for each of its 200 employees.

“There has never been a more pressing time to support local and thank staff for their work during the pandemic,” said Executive PA at Treatt Chloe Ludkin. “As a manufacturing business, many teams have still been on site developing products for our international customer base, with enhanced social distancing measures and systems like contact logs. Some staff have been working from home, which they were not familiar with, and at first it was a big change. Staff wellbeing was, and continues to be a priority.

“The Bury St Edmunds card can be spent with over 50 businesses in the area, and the choice is diverse. It meets the needs of our staff members who range from school leavers to people who have been with us for over 40 years. Rewarding staff with a local gift card ties in well with our culture of community support. Staff were really pleased with the gift card. They’d worked so hard and deserved a treat.”

Town and City Gift Cards can be spent like local currency in a town, city or area, on retail, leisure, services and hospitality. After rapid expansion in 2020, a Town and City Gift Card programme exists in each of the 12 regions of the UK and Ireland- a total of 59 programmes in February 2021. The highest concentration of programmes in a region is currently Scotland, where the Town and City Gift Cards programme originated, with 17 active programmes.

In Scotland, recruitment specialist TMM Recruitment Ltd used the newly launched Aberdeen Gift Card as a festive thank you to staff. Managing director Amanda McCulloch said it was a way to surprise staff at the end of a tough year:

“Reward and recognition are important elements of the culture at TMM Recruitment. Usually at the end of the year we host a peer to peer awards event to celebrate the year’s successes. As that couldn’t happen we decided to show our appreciation for staff and support local businesses at the same time.

“The pandemic has caused us to become more locally focused in society. With so many people working from home there’s a greater appreciation for local retailers and hospitality businesses.  In the run up to the Aberdeen Gift Card launching in our city, there was a real sense of community spirit. Everyone thinks the scheme is fabulous and staff were delighted by the gesture. The gift card is accessible no matter your age, interest, stage of life, or even if you want to treat someone else, you can.”

Over £1.9 million was spent through Town and City Gift Cards in 2020, evidencing the societal shift towards local shopping and local communities. The choice and added wellbeing offering was a factor for Salisbury Medical Practice who rewarded staff including nurses and health professionals with a Salisbury Gift Card in 2020.

“We wanted a way to thank our staff for their incredibly hard work during this year while also showing our support for the businesses of Salisbury, and encouraging people to shop locally,” said Dr Rebecca Seabridge, managing GP partner from Salisbury Medical Practice. “Giving our staff the Salisbury Gift Card means they can choose what to spend their thank you gift on. Perhaps a nice meal to look forward to when restrictions allow, a new outfit or haircut. It could even pay for their next dental check-up or go towards new glasses or a bike. We were impressed by the variety of options the Salisbury Gift Card offers.

Colin Munro is the managing director of Miconex and believes that employee benefits and rewards strategies will continue to evolve as a result of the pandemic:

“The UK economy shrank by a record 9.9% last year and it brought huge change and uncertainty for workers, it’s natural that employee rewards have adapted to reflect this. Small businesses are really struggling. Many employers are choosing to reward staff with local gift cards that take into account the unique environment the pandemic has created. Most of our corporate orders were for over £500 as employers were able to take advantage of the UK trivial benefits scheme, enabling them to gift each employee a tax free benefit of up to £50. In Ireland, the small benefit exemption is €500 per employee.

“As well as employers rewarding staff at traditional times, like Christmas, we’re also starting to see local gift cards being used to reward staff throughout the year. In Sunderland, we’ve seen gift cards purchased to reward staff for overtime worked or sales targets achieved. As we move into a new stage in the pandemic, I expect to see even more different uses of local gift cards, to help staff stay motivated, stay healthy, and feel rewarded in these unusual times, whilst supporting local businesses that really need our help.”

The post Lockdown incentives: how employers are rewarding staff in the Covid era appeared first on HR News.

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Source: http://hrnews.co.uk/lockdown-incentives-how-employers-are-rewarding-staff-in-the-covid-era/

HRTech

Payroll addition figures for February at a 3-month low: EPFO data

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The provisional data from the Employee Provident Fund shows that people who joined the formal workforce in February was the lowest in last three months.

In the month of February, an estimated of 7,56,056 people joined the workforce, down from 8,62,624 and 8,61,074 in January and December respectively. There has been a reduction of 1,06,000 from the previous month.

According to the data from EPFO, there has been a significant drop in the number of people joining the workforce within the age group of 18-25, that is, the young generation who are joining the workforce for the first time. As per the data, 4,11,000 subscribers were added in the month of February rom this age group as compared to 4,61,000 in January and 4,76,000 in December.

According to some experts, due to the COVID situation, this number will further worsen in the month of March and April.

The payroll data, which is brought out every month, is taken as provisional as the numbers are likely to change in the subsequent months. The EPFO data shows that the net payroll additions for the month of February stands at 1.23 million, 3.52 per cent more than in January.

Net payroll additions are calculated taking into account total new additions, number of exits and rejoining of previously exited members. Experts argue that it fluctuates more than new additions.

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Source: https://www.hrkatha.com/news/payroll-addition-figures-for-february-at-a-3-month-low-epfo-data/

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Cyber Security

Swiss Army Knife for Information Security: What Is Comprehensive Protection?

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The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

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Source: https://threatpost.com/what-is-comprehensive-protection/165461/

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Cyber Security

Swiss Army Knife for Information Security: What Is Comprehensive Protection?

Avatar

Published

on

The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://threatpost.com/what-is-comprehensive-protection/165461/

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HRTech

Alternatives to Offline Jobs

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Offline jobs involve offering specific services or selling products. Traditionally, this is the only job option that everyone is used to. However, technology has changed things. Today, there are numerous job opportunities online. Therefore, if the nine-to-five career path is not your thing, you can be sure to find something interesting and equally rewarding online. So, what are the alternatives to offline jobs?

Online Jobs that You Can Try Out

The online platform offers numerous career opportunities, irrespective of your educational background, age, gender, and race. The internet is a place where you start a job from the scratch and grow it within a short time. Here are some online jobs that you can try out as alternatives to offline jobs.

Online Casinos

This may come as a surprise to you but many people are cashing out and making significant returns at online casinos. If you love to play games, you can build a career in this industry and rake in your earnings. As you already must have known, many professional gamblers live on their earnings from casino winnings. 

You do not have to jump into the world of online casinos without testing the waters. To know if you are cut out to take up gambling as a job, you should start playing for free. Many casinos offer no deposit bonuses, which you can use to explore available games and see how good you are at the games. Online casinos offer various games that players can explore. 

When you develop skills in the strategy of the games, you can begin to rake in your winnings effortlessly. When playing at an online casino, ensure that you pay attention to the game policies on the site. Additionally, when claiming bonuses and free spins, take the time to read and understand the wagering requirements.

  • Telemedicine Physician

If you have a degree in a medical-related field or you have experience as a healthcare provider, you can take up a job as a telemedicine physician. Working in this capacity allows you to work at your own time and your own pace. 

As a medical practitioner, you can opt to take your business online and cater to numerous patients from across the globe instead of restricting your business to your geographical location. Apart from working in your own time, you also have the potential to make more money working as a telemedicine physician.

  • eCommerce Manager

If you have a business that you run offline, you can decide to take it online. You can also start an eCommerce business afresh. The great part about this job option is that you do not need a large capital to start. You do not have to pay for rent or hire storekeepers. 

As a startup, you can run the business from the comfort of your home and manage it by yourself. Many young entrepreneurs have become highly successful working as an eCommerce manager selling products for other stores as well as selling their products.

Conclusion

Finally, every business wants to have a digital presence and the first place to start is to build a website. Another online job you can take up is the job of a web developer. As a web developer, there are huge potentials for you online. 

You can reach out to businesses online and help with their website development. You do not need any special tools. All you need is your computer and a couple of software, which you can get on the internet.

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Source: http://hrnews.co.uk/alternatives-to-offline-jobs/

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