Company Incentive, Rewards Programs On The Decline In Canada
Canadian companies have pulled back from incentive programs this year, with the number of businesses that use rewards to motivate employees dropping to 61 percent in 2015, down from 69 percent in 2014. In its 2015 Canadian Incentive and Rewards Trends Study, Berkley Payment Solutions, a provider of custom prepaid incentive and payment solutions, also reports that 55 percent of Canadians surveyed say their employer doesn’t offer rewards to recognize their performance.
The study, now in its sixth year, features data from 500 full-time Canadian employees and 1,125 HR professionals from across Canada. It reports that the main reason Canadian employees are unhappy at work is a lack of recognition—beating out a bad boss, dissatisfying pay, a toxic corporate culture, long hours and a stressful commute. Furthermore, 60 percent of Canadians say their employer’s rewards program does not motivate them to do a good job; 70 percent say they have never received a reward from any employer in recognition of a job well done.
The study also found that 66 percent of those whose company employee incentive programs have declined over the past year cite the main reason as fewer rewards being offered, while 89 percent of Canadians appreciate when they get a reward for doing their job well and less than one percent say that workplace recognition is irrelevant for them.
“During times of economic uncertainty, reductions made to employee rewards and incentives programs might look good on the books, but the ramifications of these cuts can do more harm than good in the long run,” says Jonathon Hamburg, CEO of Berkeley Payment Solutions.
For the complete 2015 Canadian Incentive and Rewards Trends Study results, click here.