An uptick in employee absenteeism, less productive team members, higher turnover rates, disengaged employees, and more conflicts — they’re all signs that your employees’ well-being may be deteriorating. But offering unique and personalized employee rewards, like travel reward programs, can boost morale, and ultimately, improve your business.
In 2021, O.C. Tanner Institute conducted a Global Culture Study with responses from more than 40,000 workers worldwide. The results showed that 70 percent of employees say recognition is most meaningful to them when it is personalized. Additionally, the study found that a favorite type of reward included experiential gifts, like a vineyard tour or travel.
Over the years, travel reward programs have shifted to meet the needs of employees, leaning towards more personalized and customizable approaches — for both employees and employers. From customizable loyalty tiers for performance to more expansive experiences that include adventure tours and events, customizable travel reward programs are providing employees with the personalized and exclusive experiences they crave.
The Evolution of Travel Rewards Programs
Gone are the days of employee programs offering a flight and hotel. While the tried-and-true rewards of a flight and hotel remain a solid component of travel programs, the travel industry is changing as consumer expectations change.
The new emphasis on personalized and unique experiences are capturing the preferences of employees. Innovative employee reward programs are going beyond room upgrades and delving into tailored adventures that speak to individual interests. If your employees want a hot air balloon ride over scenic landscapes, curated culinary experiences in a different culture, or a kid-friendly waterpark closer to home, travel rewards programs can make that happen for them.
Innovative redemption opportunities enhance employee engagement and satisfaction. When your staff can curate their own experiences, employees are able to make the most memorable experiences that, ultimately, tie back to your company.
Personalized Rewards and Recommendations
Travel industry leaders, like Switchfly, leverage customer data to curate tailored travel recommendations, which aid in elevating employee satisfaction and overall workplace well-being. Employee travel reward programs that analyze spending patterns, search history, and preferences, ensuring the travel rewards resonate on a personal level.
From destination options based on past travel choices to providing exclusive experiences like cultural tours, adventure getaways, wellness retreats, and family-oriented activities, companies can entice more employees. Personalized travel vouchers, loyalty points, or curated itineraries are all ways companies can show that they value each employee’s contributions in a meaningful way.
Enhanced Loyalty Tiers and Privileges
Recognizing and rewarding loyalty through higher-tier employee benefits is both a strategic and powerful way to create a more engaged and committed workforce. Loyalty tiers can include accelerated points earnings, exclusive discounts, or access to a range of premium travel perks.
Top-tier employee benefits offers exclusive privileges, like premium accommodations and lounges, priority boarding, or personalized concierge services. These are tailored travel recommendations to enhance the travel journey and reinforce a positive employer-employee relationship.
Business have been offering customers tiered loyalty programs to increase brand loyalty for years. Starbucks, Sephora, and Uber are a few popular global companies tied to highly engaging tiered loyalty programs.
Sephora offers three loyalty tiers. The lowest tier is free and offers free shipping and a $10 voucher after accumulating 500 points. The benefits increase if you invest in the next tier — you must spend $1,000 a year to get in and after gaining 2,500 points, you receive a $100 voucher.
Uber’s tiered loyalty program in the United States are Blue, Gold, Platinum, and Diamond. Lower tiered customers get benefits like flexible ride cancellations and priority support service. Higher tiered riders get benefits like double points on Eats, premium ride point boost, and highly rated drivers.
Taking the tiered concept businesses are using for customers and transforming it for employee benefit programs has a similar impact — greater loyalty to their employer, higher productivity, and more engagement within the organization.
Innovative Redemption Opportunities
Human resource departments can provide employees with more diverse redemption opportunities than ever before. From exclusive adventures and events to unique redemption options that enhance existing marketplaces, points, gift cards and more, employees can feel like their employer is tailoring their benefits programs to them and their families.
Innovative redemption programs contribute to the holistic well-being of their teams. Employees get a break from routine; they’re fostering a sense of fulfillment; and supporting their mental, emotional, and physical well-being.
The Power of Exclusivity
Enhanced loyalty programs also invigorate the feeling of exclusivity among employees — they feel more valued because they recognize they’re receiving unparalleled benefits from their employer — a perk that others in their social circles aren’t getting. As a result, employees have a greater appreciation for their workplace and leadership.
Examples of exclusive experiences in employee rewards programs.
McKinsey research found that up to 55% of an employee’s engagement is driven by non-financial factors. Vacation and travel are top ways to recognize and reward employees — and drive engagement. Choosing a travel rewards program for your employees that offers personalized and exclusive experiences can revolutionize your employee loyalty program, improve your employees’ well-being, and at the end of the day, increase your bottom line.
Switchfly is a leader in helping companies offer travel rewards and benefits their employees are excited to use. Their suite of travel features can be added to your existing program, quickly. Learn about the possibilities with Switchfly.
Switchfly is the leader in helping companies offer travel rewards and benefits that employees are excited to use. To discover what’s possible with Switchfly, connect with us today
