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Rachel B
HR Director
Building a culture of continuous recognition and rewards is paramount in today’s disengaged workforce.
Igniting your employee’s competitiveness and offering them opportunities to grow and advance their
careers will transform the company into a highly motivated and driven workforce.
Regardless of the size of the company, and the industry, any employee should feel valued and appreciated. Recognition and rewards from directors and coworkers is a powerful driving force that can motivate and raise overall employee engagement. The right employee recognition and reward program benefits both the organization and the workers.
There are many vendors who administer and run customized reward programs based on the company’s values and budget. Customizing the program so that it promotes the values of your company will make a great impact on your workforce. Keeping track of shared files, reports, budgets can be a chore when there are multiple programs running. By implementing an all-encompassing specialized software or technology it makes the whole workflow simplified, it becomes easier to manage and cuts costs.
Employee rewards programs are not just about giving away prizes, they are about recognizing and rewarding the hard work and contributions the employees are making for the company. By acknowledging their efforts, the company is creating a culture of appreciation where employees feel valued. When employees feel appreciated and valued it also results in higher employee retention, overall satisfaction, and ultimately higher profits for the company.
We have all heard of the standard “employee of the month” award. However, there are many ways to recognize your workers for their efforts. These rewards are not reserved only for the sales department, so allow any employee to shine and recognize their contributions to the business. Celebrate achievements, milestones, and anniversaries.
Some examples of employee recognition and reward programs are:
As part of any competition, the prize is the most crucial element of the program’s success. Choosing a price that will appeal and get the employees interested is vital to how engaged they will be. Most rewards can be separated into three categories:
Although rewards are usually chosen based on certain criteria like the budget, the size and industry of the organization, some all-time favorite rewards are:
Initiating a program that rewards the multitude of achievements an employee may attain should be an important part of a company to foster an environment of continuous improvement. Furthermore, through the use of software, the rewarding process can be streamlined and made more efficient, thus creating a more engaged and productive workforce.
Shortlister Connect is a tool specifically designed to be utilized by the HR and Procurement/Sourcing teams within mid-size, large and jumbo employers. Shortlister Connect allows these teams to efficiently research & identify their optimal vendor partners, track existing vendor relationships & performance and “connect” with other employers to share successes and vendor experiences.
If you are not on the HR or Procurement/Sourcing team within an employer with over 200 employees, you will not be granted access to Connect. Examples of individuals that would not be granted access include, but are not limited to: vendors, students, practitioners, researchers, other non-employers or anyone that is unwilling to identify themselves will not pass our vetting criteria. If you are a consultant, Shortlister offers a specialized product for consultants, called Shortlister Select. You can email Tom Ciccotti at tciccotti@myshortlister.com to learn more about Shortlister Select.
***Shortlister retains the exclusive right to grant or deny access to any party to ensure the privacy of the vendors in our system.
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