Employee Rewards - Examples + What Other Businesses Offer
Published:29 Jun 2022
Do you offer employee rewards? If not, you may want to consider doing so. Employee rewards can be a great way to show your employees that you appreciate them and to keep them motivated. In this blog post, we will take a look at what some other businesses offer their employees in terms of rewards. We will also discuss the benefits of offering employee rewards.
In this post we will use the term employee benefits and employee rewards interchangeably - but there are differences. Employee benefits are things like healthcare, vacation days, and retirement plans. These are things that employees receive as part of their employment package. Employee rewards, on the other hand, are something extra that businesses can offer to their employees. They are not required by law, but they can be a great way to show your appreciation for your employees' hard work.
Employee benefits of Starbucks
Employees of Starbucks are reported to be rewarded with a free cup of coffee or tea every day. They also receive a discount on food and drink items. In addition, they are given paid time off, health insurance, and a 401k plan in the USA.
The benefits offered by Starbucks are pretty standard for large companies. However, the company does offer some additional perks to its employees. For example, employees can receive a free birthday drink on their birthday. They also have the opportunity to participate in monthly contests where they can win prizes such as gift cards.
Starbucks is just one example of a company that offers its employees rewards. There are many other businesses out there that offer similar perks to their employees.
Employee benefits Walmart
Walmart is valued at $245.55 billion dollars and is the largest company in the world by revenue. The company employs over two million people in the United States alone. So, what kind of employee benefits does this large company offer its employees?
Walmart offers its employees a variety of benefits. These include health insurance, dental and vision insurance, life insurance, 401k plans, and more. In addition, employees receive a discount on Walmart purchases. Full-time employees also receive paid time off.
While the benefits offered by Walmart are pretty standard, the company does have some unique perks. For example, Walmart employees can participate in a program called "Live Better U." This is a program that offers discounts on education, fitness memberships, and more.
Employees are also reportedly rewarded for their years of service with a special anniversary pin.
Employee Rewards at John Lewis
The John Lewis Partnership is a British company that owns the high-end department store chain, John Lewis & Partners. The company also operates Waitrose & Partners, a chain of supermarkets. The John Lewis Partnership employs over 83,000 people in the United Kingdom.
So, what kind of employee rewards does this large company offer its employees?
The John Lewis Partnership offers its employees a variety of benefits. These include health insurance, dental and vision insurance, life insurance, and in addition, employees reportedly receive a discount on John Lewis & Partners purchases.
Employee Rewards at Amazon
Amazon is a multinational technology company that specializes in e-commerce, cloud computing, and artificial intelligence. The company employs over 660,000 people worldwide. So, what kind of employee rewards does this large company offer its employees?
It is reported that employees get a discount on Amazon purchases. In addition, they are given stock options and are eligible for bonuses.
Amazon also offers employees to take up to 20 days of unpaid leave per year. They also have the opportunity to participate in the company's "Career Choice" program. This is a program that helps employees pay for education and training courses.
Employee rewards are something extra that businesses can offer to their employees, over and above the benefits they are legally required to provide. Offering rewards is a great way to show your appreciation for your employees' hard work. But what should you choose?
How to reward employees: The survey says....
**How do employees want to be rewarded? **
A survey taken by Glassdoor found that the most popular employee rewards are cash bonuses, gift cards, and paid time off.
When it comes to cash bonuses, the majority of employees said they would prefer to receive their bonus in cash rather than in stock.
As for gift cards, the survey found that employees would prefer to receive them from retailers that they know - such as Amazon, or for large supermarket/ grocery brands.
As you can see, there are a variety of employee benefits and rewards that businesses offer their employees. What you offer will depend on your budget and the size of your company. However, offering some type of reward or benefit to your employees is a great way to show your appreciation for their hard work.
Simply Thank You supplies employee rewards and corporate gifts for many major household name brands. We would be delighted to help you choose the perfect employee reward for your business. Visit our website or contact us today to learn more!