All posts by Linmy

Basic Requirements Of Employee Reward Programs

There are many strategies for rewarding employees, and they all do tend to accomplish the same thing. Employees who are recognized for their contributions are encouraged to keep performing at that level. And for those employees who are only average, incentives can and do motivate them to improve. Here are some of the basic requirements of a well-received loyalty program for employees.

  • Maintain Program
The most important element in employee reward programs is to follow through. If you’re going to take the time to implement a program, then the very least you can do is maintain that program. There is nothing more disheartening to an employee than to have worked toward a reward that suddenly no longer exists. Once you start an employee reward program, maintain that program.

  • Make Rules Easy
Make any guidelines for achieving a reward very clear. For example, if you’d like to give out a $100 gift certificate to your ‘Employee of the Month’ each and every month, then you’d better define what Employee of the Month means. If the reward goes to the person with the highest customer satisfaction score, let all your employees know this from the outset of the program.

At the same time, your employees need to know what actions will disqualify them from the program. Perhaps chronic lateness, maybe being late three days out of the month, will serve to disqualify an employee from the running that month. That’s fair enough, as long as your employees know that ahead of time. In addition to being fair to the employees, being specific regarding qualifications lets everyone know what they should strive for. Perhaps the employee who is late once a week will make an effort to be on time, knowing that a reward might hang in the balance.

  • Offer Valued Rewards
There are many choices regarding what you can offer as a reward. Monthly rewards work best, most of the time. It’s a reasonable amount of time in which to earn a reward, and it gives everyone a chance. The specific reward program will vary based on your company profile and your budget. It’s important to ask your employees for input about what they consider a valuable reward for the effort. Some possible suggestions include:

Printing up several blank form letters designed to congratulate employees. These can be very simple, with spaces for the date and the employee name. Give a stack to each supervisor or manager. When an employee goes above and beyond, they receive a letter. Photocopy this letter for your files, and the employee who collects the most letters in a given month wins.

Having tokens custom made for your company, perhaps resembling poker chips. These tokens can be rewarded based on whatever scale you decide, and then employees can trade them in for various rewards. For this to work, you must come up with a list of rewards before launching this program.

  • Team Rewards
If your organization has several locations or departments, you can consider group or team rewards. Groups like to win, and competition can bring out the best in your employees. A group lunch is a good reward for the winner of these competitions, but feel free to get more creative. Perhaps ask for input from the employees. They might have some good ideas for valuable rewards.

Benefits Of Payday Loans In Singapore

Taking a personal legal loan is regarded as quite beneficial when you require fast money for any crisis or something very essential. There is nothing beneficial than payday advance. In simple terms, the payday loan in Singapore is a form of an unsecured loan where you need to return the money on the day of your next paycheck to the lender.

This Payday loan permits you to borrow money at high interest rates. The concerned lender will verify the employment or income through your bank statement. However, not all lenders run credit checks. You also need to repay the mortgage in person on the due date. In case you fail to do so, the lender will have the liberty of redeeming the check. Therefore, applying for payday loans Singapore is a good choice.

  • Simple process involved
For to qualify for salary loans, only a job or consistent income is required. Most lenders, who offer finances depending on paychecks, do not need credit checks. Meeting the criteria for payday loans does not require a lot of unnecessary guideline but only verified employment or income statements that will delivers a stable paycheck.

  • Speed matters in emergencies
At times of distress, you might encounter situations in life when you will feel the need of some financial help, but don’t require a full-blown personal loan. In those circumstances, Payday loans can be a helpful alternative. The biggest advantage that can be linked to this loan is fast approval. As you approach a reputed moneylender regarding the advance, the establishment will offer you cash instantly. What you are required is to write the cheque to the lender for loan covering encompassing all applicable fees.

  • Better source of utility
This modern solution as mentioned above is preferred by several individuals these days for covering expenses quickly that life throws at them. The payday loan in Singapore is usually utilized for covering bills and rents to avert penalties that are linked to late payments. These are also used as a means of covering emergency expenses so that you don’t require borrowing money from relatives and friends. However, while you take this loan, make sure you are completely up to date with the agreement terms before signing on any paper. Such loans can be your friend in need and help overcome the crisis.