The right employee rewards program doesn’t just make employees feel appreciated. It strengthens engagement, boosts retention, and inspires higher performance. Insights from Achievers’ 2024 State of Recognition Report found that when employees have access to a global, customized marketplace, they’re 60% more likely to say they feel meaningfully recognized at work.
When designed with intention, these programs go beyond one-size-fits-all rewards or branded merchandise; they become a strategic tool for reinforcing the behaviors that drive business success.
In this guide, we’ll break down the key elements of a successful employee rewards program, explore different reward options, and highlight what sets the best programs apart — giving you the tools you need to start your rewards and recognition (R&R) journey on the right foot.
What is an employee rewards program?
An employee rewards program is a platform that allows business leaders to recognize employees for their contributions and achievements, and positive behaviors. It provides tangible rewards — such as gift cards, experiences, or merchandise — to show appreciation and celebrate actions that align with company goals.
R&R are a key part of incentive programs, designed to engage and motivate employees to perform at their best. When done right, they play a crucial role in employee satisfaction and success.
Why employee rewards programs matter
A paycheck alone isn’t enough to keep employees engaged. People want to feel valued for their contributions at work. In fact, research from Achievers Workforce Institute (AWI) found that people recognized at least monthly are 22% less likely name compensation as the main reason they would job hunt.
That’s where an employee rewards program makes a difference. The right program goes beyond simple perks to bring a personal touch to recognition.
Here’s why rewards programs matter:
- Increased engagement: Employees who receive recognition and meaningful rewards are more invested in their work, leading to higher motivation and performance.
- Higher retention: Employees who feel appreciated are more likely to stay, reducing turnover and strengthening long-term commitment.
- Boosted productivity: Rewarded employees are more motivated to excel, leading to better individual and team performance.
- Stronger culture: A well-structured rewards program reinforces company values, creating a culture that’s based on appreciation and alignment.
- Customizable & flexible rewards: Employees are more motivated when they can choose rewards that matter to them.
Types of employee rewards
A great employee rewards program offers a mix of incentives to keep employees engaged and motivated. Here are the key types of employee rewards to consider implementing into your R&R program:
- Monetary rewards: Financial incentives like bonuses, salary raises, and stock options offer direct, tangible recognition, making them ideal for performance-based achievements and major milestones.
- Non-monetary rewards: Perks like extra time off, flexible work arrangements, and learning opportunities help employees recharge, grow, and advance, reinforcing long-term engagement.
- Experiential rewards: Trips, event tickets, and wellness programs create memorable experiences, showing appreciation in a way that extends beyond the workplace.
- Social recognition & peer-to-peer rewards: Badges, shout-outs, and public appreciation help build a culture of recognition, reinforcing positive behaviors in a meaningful, personal way.
What is the best type of reward for an employee?
The best rewards are personalized to employee preferences. While some value financial incentives, others may prefer time off or development opportunities. Ultimately, a well-rounded program ensures every employee feels valued.
How to build an effective employee rewards program
Building an effective employee rewards program is a multi-step process — one that requires thoughtful planning, alignment with company goals, and a structure that ensures employees feel valued.
Here’s how to create a program that makes an impact:
1. Set clear goals and metrics
Before launching a rewards program, define what success looks like. What behaviors and achievements do you want to reinforce? Whether it’s boosting collaboration, increasing productivity, or improving retention, setting clear objectives can help fine-tune your approach and ensure you’re getting maximum results.
Consider these steps:
- Track engagement levels, retention rates, and performance metrics
- Use surveys, analytics, and feedback loops to learn whether employees find value in the rewards you’re offering
2. Align with company values
When employees see a direct connection between their efforts and company values, recognition feels more meaningful. Consider structuring rewards around key initiatives, such as leadership development or community involvement, to strengthen alignment.
By tying employee recognition to what truly matters, you create a rewards program that not only motivates employees but also drives the behaviors that contribute to business success.
3. Offer flexible reward options
Not all employees are motivated by the same rewards. A flexible rewards program allows employees to choose what matters most to them, increasing engagement and satisfaction. The more personalized the experience, the more effective your program will be in driving long-term motivation.
4. Make rewards accessible
An employee rewards program should be easy to use and seamlessly integrated into daily workflows. Make sure the program is visible, mobile-friendly, and available across different platforms so employees can easily participate.
Accessibility also means inclusivity. Ensure rewards are relevant to employees across departments, locations, and job levels. The easier it is for employees to engage with the program, the more likely they are to use it regularly.
5. Leverage technology
Technology is key to creating a personalized reward experience. AI-driven platforms simplify reward distribution, ensuring employees receive meaningful recognition without administrative hassle. Advanced AI algorithms can also analyze employee preferences and past redemptions, offering personalized reward recommendations based on what employees search for and engage with most.
By leveraging technology, companies can streamline reward management and provide a more tailored, impactful experience that keeps employees motivated and appreciated.
6. Encourage peer-to-peer rewards and recognition
Recognition shouldn’t come only from leadership; employees should feel empowered to recognize and reward each other. Peer-to-peer recognition creates a culture of appreciation, where employees feel valued beyond just top-down feedback.
When social recognition is combined with points-based rewards, it not only encourages employees to celebrate each other’s strengths but also adds an incentive to continue those behaviors and contributions in order to accumulate more points and redeem for something special to the individual.
7. Review and refine
A successful employee rewards program changes and evolves based on employee feedback and performance data. Regularly review whether employees are engaging with the platform and redeeming rewards. Use surveys and polls to learn what’s working and where improvements are needed. If certain rewards aren’t resonating, adjust the items and experiences you offer to better reflect employee interests.
The more knowledge you have, the better you can refine your program to become an integral part of the employee journey.
Top 3 employee rewards programs that drive success
The right employee rewards program can change the way employees feel about their workplace in real ways. Here are three rewards programs shaping their workforce and driving results:
Achievers
Achievers is an award-winning rewards and recognition platform driving engagement and productivity through a global reward marketplace. With localized rewards and fulfilment in nearly 190 countries, the points-based employee reward program allows employees to redeem points for items and experiences they care about — from gift cards to their favorite stores to custom travel experiences through their innovative concierge feature.
Achievers’ rewards program is designed to recognize employees for their dedication, contributions, and achievements in a way that’s real and meaningful.
Key features:
- Global rewards marketplace with more than 3 million reward options
- Access to 2,500 brands at zero markup
- Expansive reward options, including custom company swag, charitable donations, gift cards, pet products, and more.
- Always-on mobile and desktop access
- Secure HR and software integrations built into workplace tools, including Zoom, Microsoft Teams, Workday, and more.
Achievers combines innovative social and monetary recognitions with a scalable rewards system, helping businesses celebrate their people and reinforce the positive behaviors that drive success.
Key benefits:
- Achievers’ customers are 2.5x more likely to see increased employee retention than other R&R providers.
- Customers using Achievers’ platform are 36% more likely to see higher engagement than other providers.
- Employees with access to an expansive rewards marketplace are 75% more likely to feel more productive at work.
Motivosity
Motivosity is a rewards and recognition platform that strengthens employee connections through both monetary and social recognition. With a customizable company store and hundreds of reward options, employees can easily redeem rewards. Plus, the ThanksMatters Card lets employees convert points into dollars to spend anywhere Visa is accepted.
Assembly
Assembly is an all-in-one platform where employees can recognize achievements, celebrate milestones, and redeem rewards. With thousands of gift cards, charity options, and personalized culture rewards to choose from, employees can also enjoy free discounts at popular retailers.
What makes a successful employee rewards program?
A successful employee rewards program is innovative, flexible, and accessible. It acts as a way to make workplace cultures better, one recognition at a time. The best programs know how to maximize impact and inspire action, driving behaviors that propel businesses forward.
Here’s what to look for when choosing an employee reward program:
- Personalized rewards for maximum impact: Employees are motivated by different things. Achievers offers personalized reward and redemption experiences, letting employees choose the rewards that matter most to them.
- Seamless integrations with existing systems: A rewards program should fit into employees’ daily workflows without extra effort. Achievers integrates with HR platforms, collaboration tools, and productivity apps, ensuring recognition happens naturally.
- AI-enhanced rewards selection: Smart technology can enhance the rewards experience by making it more relevant. Achievers uses AI to analyze employee preferences and create a customized rewards marketplace, offering personalized suggestions based on search and redemption history.
- Global rewards marketplace and support: A truly inclusive rewards program should work for all employees, no matter where they are. Achievers offers rewards in 190+ countries and 24/7 multilingual support, making recognition easy and accessible for global teams.
- Data-driven results across the employee lifecycle: Measuring impact is essential for long-term success. Achievers provides real-time analytics to track recognition trends, measure engagement, and refine reward strategies for continuous improvement.
Start building your best employee rewards program today
Building an effective employee rewards program all about intention and strategy. Companies that take a thoughtful approach — aligning rewards with company values, offering flexibility, and using data to refine their program — learn how to shape their workforce and drive real business results.
Achievers makes it easy to build and scale a rewards program that delivers results. With personalized rewards, seamless integrations, AI-powered insights, and a global rewards marketplace, Achievers helps organizations recognize employees in meaningful ways.
Ready to create a program that keeps employees engaged and motivated? Let Achievers help you bring your vision to life.
