Industry Report On Employee Rewards and Recognition Trends for 2021

This report accounts responses of industry experts from various countries over a Virtual HR Conclave conducted in 2021. It highlights the importance of agile rewards and recognition (R&R) trends for your remote workforce.

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You will get to learn

Ways to overcome global HR challenges for remote working.
Insights on top digital rewards and recognition trends for 2021.
Importance of rewards and recognition for remote workers.
Ways to enhance employee engagement and experience for remote workers with the helps of rewards and recognition platform.

Table of Contents

Executive Summary
Key Objectives
Methodology
Key Findings
Importance of Rewards and Recognition for Remote workers
Latest rewards and recognition trends
Future of digital rewards and recognition trends
Key takeaways of this report
Conclusion

Key Objectives

To highlight the global HR challenges for remote working.
To highlight the prominence of Agile Recognition for remote workers.
To publicize the top digital Rewards and Recognition trends for 2021.
Enhance employee experience and performance in a company.

Methodology

The completion of this report comprises 248 responses of industry experts from various industries across the globe. The list of countries includes the U.S, Singapore, India, Indonesia, Canada, Australia, U.A.E, and many more. The questionnaire focused on rewards and recognition trends for remote working. It had open-ended and multiple-choice questions on HR challenges with remote working and Agile R&R trends for 2021.

Key Findings

The data collected from the respondents give us new insights into Employee Rewards and Recognition.

1. Insights on the objectives of Rewards and Recognition programs in a company.

Index

Motivation towards innovation and productivity
Scaling Employee Advocacy
Aligning Employee behaviors with Organizational Values
Attracting Great Talent
Employee Retention

Fig: Insights on the objectives of Rewards and Recognition programs in a company

2. Respondents on the importance of Rewards and Recognition platform to remote employee engagement.

Index

Agreeing for Rewards and Recognition Platform
Not sure

Fig. Respondents on the importance of Rewards and Recognition platform to remote employee engagement.

3. Initiatives that have the highest impact on overall Employee Engagement and Recognition during remote working.

Index

Unlimited Paid off
Adopting Digital R&R platform
Bonus and Incentives
Posting Certificates and Plaques

Fig. Initiatives that have the highest impact on overall Employee Engagement and Recognition during remote working.

4. Factors that should be kept in mind while adopting Rewards and Recognition programs in this Covid-19 situation.

Index

Supporting both monetary & non-monetary recognition programs
Easy Customization or personalization
Technological Integration
Mobile Responsiveness
Presence of other functionalities (e.g employee survey & wellbeing)

Fig. Factors that should be kept in mind while adopting Rewards and Recognition programs in this Covid-19 situation.

5. How the digital Rewards and Recognition Platform managed to innovate remote workforce engagement.

Index

Connecting Dispersed Workforce
Easy and real-time tracking
Enhancing HR Efficiency
Transparency among the peer groups

Fig. How the digital Rewards and Recognition Platform managed to innovate remote workforce engagement.

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