Employee Rewards News: Rewards in 2018 – What’s ahead?

Rewards in 2018 – The Expert Predictions

When it comes to predicting the future, some people have the knack. Instead of getting the lottery numbers, they’ve been roped in by us to talk about rewards in 2018 and what’s coming.

Reward Cloud

“A more dynamic and responsive approach that goes beyond the traditional bilateral relationship. The workforce, our place of work and general working hours are constantly shifting so we feel as though rewards and incentives need to be much more intuitive. One that is highly engaging and relevant across a large selection of tasks and goals. Consequently a good rewards and incentive programme must have choice and adhere to the end recipients wants and needs. Fundamentally, technology will play a big role in the evolution of how we address this need throughout 2018 and beyond.” Gareth Gillatt, Reward Cloud

OC Tanner

“I’m very bullish about rewards in 2018. Most senior leaders have now come to appreciate the power and
impact recognition and incentive programmes can have on their overarching organizational strategy.
Leaders who want to attract and retain skilled talent, grow revenues, innovate, improve employee and customer engagement, and protect their corporate brand, understand that these solutions contribute significantly
to achieving their goals, and this should lead to greater programme adoption next year.

The industry is also more widely embracing tools like Design Thinking, Neuroscience, and Behavioural Economics to deliver an even better experience for participants and better results for organisations. In the U.S., Wall Street and Boards of Directors are giving our industry a boost with their increased interest in talent attraction and company culture. 77% of investor calls now include questions about talent and culture – often times forcing leaders to create comprehensive strategies and elevating these conversations into the highest levels in the company. I believe we’ll finally see more attention and action around “Employees are our most important asset!”  Michelle Smith, OC Tanner

“As a global society we are facing an avalanche of innovation and disruption across all markets. Driven by rapid advances in technology and re-de ned customer expectations we need to constantly review and re-assess our services to ensure we deliver inspiring performance improvement solutions to our clients. We’re looking at the impact of “infobesity” – too much information and a scarcity of time to digest it can lead to inaction. Providing incentive participants with concise calls to action and relevant content that is “unique” to them. We also want to tap into the “attention economy”, seizing the hearts and minds of the audience through a creative toolkit of Virtual, Augmented and Mixed Reality dynamic communications and interactive e-learning. This is all back through the rise of “Data Science” – building “insights” driven metrics into PI programmes through the application of predictive and prescriptive analytics. We are in the “inspiration” business and always seek new ways to engage and excite people to achieve their goals and deliver results!” Amanda Wright, Performance Improvement Director EMEA BI WORLDWIDE

Personal Group

“Rewards in 2018 will be the year that employees at small companies finally begin to get the same quality benefits and rewards that employees at big companies have enjoyed for years. This change will be driven by technology innovation that make first-class benefit platforms affordable to companies of every size.

At Personal Group, we want to help motivate people in every kind of workplace. We also know that employee motivation has a direct effect on businesses’ bottom lines. That is why we are working with Sage UK to provide ‘Sage Employee Benefits’, a service that will make sure that every business, no matter what size, has a bene ts solution to inspire and the opportunity to reap the rewards they deserve.” Wendy Melville, Personal Group

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