PPB September 2021

Pr emi ums and I ncen t i ves by Danielle Renda Anna Kucherova./.sunset lady / Shutterstock.com. Employee Incentive Programs: A Win-Win Reward When companies actively use incentive programs and premiums to recognize their employees for the work they do, it gives workers something to always look forward to and work toward. At the same time, these programs help businesses meet their bottom lines by saving critical resources along the way, and strengthening company culture throughout. I t’s safe to say that business owners and their employees learned many hard lessons during the pandemic, and they are still learning. But arguably one of the most valuable, universal lessons the pandemic reinforced is the need for and the importance of human connection in all its forms. In the business world, this translates to the innerworkings of companies’ various departments, teams, workers, committees and leadership staff, who are constantly gathering and relaying information about the needs of partners, clients, consumers, related industries and the business itself to continue fulfilling customers’ wants and problem-solve throughout. However, this is only a glimpse into the efforts that went on behind the scenes to sustain the U.S. workforce over the past year. Many of the nation’s 127.16million full-time workers and 25.13million- part-time workers, according to data reported in June by Statista, underwent the transition from in-office to remote work or a hybrid, andmillions are likely still navigating the shift. A force of professionals actively contributing to keeping the U.S. economy afloat, they deserve to be recognized by their employers for a job well done, and that’s 36 | SEPTEMBER 2021 | INNOVATE