Building Easy and Effective Member and Employee Reward Programs
Done right, introducing and implementing a winning member or employee reward program can be achieved with surprisingly little effort, and bring great benefit to your organization and your people. There are several key steps your company can follow to ensure your program is a success.
Who can benefit from a member or employee reward program?These programs provide great value to companies of all shapes and sizes. They can also be used by organizations with a membership base that does not consist of traditional employees. This includes:
- Large Corporations (single or multiple locations)
- Small and Medium-Sized Businesses
- Professional Associations
- Commercial Property Managers
- Professional Associations
- Subscriber-based Organizations
- Trade Unions
- Social Clubs
Effective reward programs have three purposes.Reward programs are more than just perks or incentives to supplement a salary or core service offering. They are one more way an organization can set itself apart and provide unique value for its employees and members. There are three primary reasons organizations may consider an employee or member reward program. [Read Why Employee Reward Programs Work]
1. Recruitment and retention.A company is only as successful as its ability to hire and retain top talent. Those that can attract and keep the best and brightest hold a competitive advantage.
2. Loyalty and engagement.Loyalty goes beyond retention. It also applies to engagement. Engaged employees work harder. They are more committed to the organization. They also tend to speak highly of the organization, which can help attract new members to the team. Employee and member reward programs help incentivize employees as part of an overall engagement strategy.
3. Culture and belonging.When people feel valued at all levels, it helps create a stronger, more positive internal culture. Receiving something you can only get by belonging to an organization contributes to a sense of community and belonging.
Types of member and employee reward programs.
There are a wide range of employee reward programs, which can vary in cost and complexity. This can include things such as flex days, gym memberships, health and wellness benefits, peer-to-peer rewards, even workplace giving programs. [Read 5 Employee Reward Programs]
The Boom Program is an example of a member discount program for organizations operating in Canada. Members are provided a card that allows them to receive exclusive members-only discounts from participating businesses.
Five key considerations when choosing and implementing a member or employee reward program.It goes without saying that the most effective and successful reward programs are widely used and enthusiastically embraced by members. We have identified five keys to a successful program.
Key 1: Make it easy for employees.The easier you make it for your people to participate in Boom's program, the more likely they are to use it, and the greater value it will offer as an incentive. We’ve made it simple for our members to participate in our program by:
- Ensuring easy registration
- Providing an iOS mobile app linked to the card
- Allowing members to search our latest deals and offers on the platform they are most comfortable using: whether it is through our app, email updates, our website or members' magazine
- Ensuring a wide offering of lifestyle rewards
- Sending out regular email updates
- Allowing the member to simply show their member card at the retailer or enter an online code (where applicable)
Key 2: Make it easy on yourself.You want your reward program to work. But you don’t want it to make work that takes away from the core duties of your reward program team. In introducing our program, we have worked hard to create a turnkey solution that requires little effort on the behalf of your organization. Here are a few ways we’ve made it easy for our clients:
- Creating custom-branded membership cards
- Handling of program administration and support
- Answering all inquiries in a responsive manner
- Ensuring diverse and inclusive rewards that appeal to a wide cross section of members:
- With something for everyone
- Coordinating membership surveys and gathering data on your behalf
- Facilitating special member events to promote the program
- Learn@Lunch events
- Trade shows (general or targeting key merchants in specific area, such as health & fitness)
- Continually introducing new merchant partners
- Regularly updating membership engagement materials
Key 3: Ensure your program offers unique value.An incentive is not an incentive if everyone receives it. This is why a reward program should offer members a benefit that is not available to non-members. A strong program will offer savings at a variety of price points. It could range from tens to hundreds to thousands of dollars off. Our offers cover the spectrum. From significant discounts on the purchase of a new automobile to savings on realtors, hotel rooms, insurance, skiing, family entertainment admissions, movie tickets, a bottle of wine… you name it. Keeping offers fresh and topical is another way to ensure success. For example, a ski hill may promote ski and snowboard discounts in the winter and offer mountain biking in the summer and fall months.
Key 4: Member or Employee Reward Programs should offer something for everyone.Your employees and members are a diverse group. They have different tastes, interests, wants, needs, loves, likes and desires. As such, your reward program must appeal to a wide audience and provide something that most members will find of value.
Key 5: Be a cheerleader and promoter of your program.A member or employee reward program isn’t something you introduce, check off on your Loyalty Best Practices list and forget about. It is important to work hard to remind employees of the great value your program offers. Think of different ways you can promote your program. Through employee newsletters, employee/social club websites, posters and more.
Boom Member Companies share their experiences:
Everbrave has been a member of Boom since 2017 and our entire team has enjoyed surprising savings from a number of merchants in our first year with the program. Boom is a great way to create a sense of reward and belonging within Everbrave, and an easy and valuable way to show appreciation for our team. We have fantastic support from everyone at Boom, making it very easy for us to "own" and seamlessly deliver the program's benefits to our staff. I’ve personally taken advantage of a number of offers, most recently The Organic Box, and can say that BOOM's wide variety of merchants and partners has provided me with ample opportunity to save while also discovering fabulous new finds! It's an awesome program on a personal and corporate level, and I would encourage any company big or small to take advantage of it.
At Shane Homes' fall company strategy-planning session, we reviewed different ways to increase employee engagement. After doing a bit of research we were referred to Boom Group by Husky Energy. It only took one meeting with Laureen to see the value that the Boom Rewards program would be for our employees.
We have signed up all of our employees as a reward and have had over a 55% engagement to date. The number of savings that I have heard our staff receive have been anywhere from $810 to $1,745 in insurance savings alone.
I saved $2,400 in house, with auto, quad, and trailer insurance and the savings do not stop there.
The preferred pricing + special promotions on a wide variety of products and services are one of the ways Shane Homes is able to reward and celebrate the hard work and dedication of their staff.
Our company has been a member of Boom for almost 5 years. The program makes sense and I like that it is online and easy for me to access when I want to. I heard that I could save on my home and auto insurance and I checked out the various Boom merchants on the website. The company I used helped me save hundreds of dollars because of my Boom membership. I was surprised that I was able to save that much, but very happy that I did.
Boom's program is easy to use and there's no pressure to purchase.
I appreciate having the card and will continue to look at other opportunities to save with my Boom card.