Business

The digitization of incentives and remuneration, an unstoppable phenomenon

Andrea works for a consulting firm. He is in charge of IT project management and systems development. In 2020, a very difficult year for his industry, his company ensured that from home he could continue to operate efficiently and that the effect of confinement was barely noticeable in his day-to-day management and relations with clients.

Although the effects of the pandemic seem to let us see some light, his work is still mixed, with 60% of his week working from home. 2020 and its consequences did not allow the company to revise its salary upwards, but it was decided to punctually reward its efforts.

Today, at the start of his working day, he found a surprise on his computer. Your company, as part of the new incentive plan, issues by email a digital gift card loaded with a balance that can be exchanged for home leisure subscriptions, shopping cart, sports equipment, home food, clothing, electronics, furniture, gasoline bonds and many other options. You can also donate part of your reward to an NGO.

Digitizing people management: a necessity

Andrea’s story is fictional, but not unreal. Like her, thousands of employees in Spain have changed their working habits, switching to teleworking formulas and looking for different solutions that make their work more comfortable and efficient. In Spain, it is estimated that 51% of employees worked from home, at least partially.

Digitization is not a trend. It is an unstoppable current. Even more so when, thanks to European funds, more than 30% are invested in the digitization of companies.

With the purchase of teleconferencing equipment, a good chair, ergonomic elements to improve posture, lighting and a wide range of other things, we had to add the adoption of digital tools that we bring together these colleagues and work teams that we have had. . to hunt to protect everyone’s health.

Among these technological innovations, there is of course that of incentives. On the one hand, employees were already beginning to demand new forms of remuneration that went beyond simple cash. According to a study published by Cinco Das, interest in entertainment, training and health has increased by more than 40%.

On the other hand, the way of delivering these benefits to employees has also changed. Digitization has led companies to look for ways to adapt to telecommuting. Human resources managers are increasingly the driving force behind the digital switchover, with the relationship with teams benefiting from these work environments.

Trends in the digitalization of incentives and rewards

According to Click & Gift, issuer of the first multi-brand digital gift card in Spain, this trend has been developing for years, but it is because of the pandemic that habits are changing more quickly. It is no wonder that this past Christmas many companies have opted for the delivery of gifts in digital format or through a web portal to select their gift and receive it at home.

The provision of incentives is benefiting from the digitization of many sectors and the conversion of some of them, such as catering, which is now increasingly done at home. The offer of virtual incentives is growing every day: flexible compensation platforms, contactless team building tools, coaching and remote assistance … New incentive concepts are also booming: home entertainment (applications music, home cinema, reading, video games …), healthier life (sport, healthy food …), help with daily shopping (supermarkets, petrol), well-being services (fight against stress, family help at home …), compensation for teleworking costs (IT equipment, ink cartridges, professional furniture) or online training (new technologies, languages). This is why at Click & Gift we have chosen to expand and adapt the brands associated with our digital gift cards, where companies can configure a reward that is, at the same time, from all these categories or only from some in particular. The company digitizes, decides on the content of the incentive and … the employee appreciates!

A win-win company – employee

By dematerializing rewards and incentives, the company and the employee benefit from the same advantages. In the case of online gift cards, we can find the following:

Immediacy. Delivery is instantaneous, with which the company can decide under what circumstances it is received, during the working day or in special situations (birthdays, birthdays, births …). Universality By being delivered by means that the employee already uses in his daily life, such as email, he does not need anything special to enjoy his reward. Of course. The options available to the employee are multiplying, in the form of establishments in which to redeem the gift. Adaptability. Each employee can be given a different option, which can be tailored to each individual or individual outcome. Communication. These are incentives that go beyond monetary payment and allow you to communicate personalized messages. This clearly increases pride in belonging to the organization.

The use of digital incentives will likely continue to increase, as businesses and employees know about their improvements. The key element in this regard is the fact that in the last year the online market has grown by 62.5%, especially since teleworking is here to stay: one in three Spaniards would quit their job if conditions weren’t there. were not maintained. your business.

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