Rewards and recognition are often used interchangeably, but there are some apparent differences. Rewards are usually tied to employee performance and are treated separately from the salary.
More and more companies are finding ways to build rewards systems into their budgets. Recognition, on the other hand, can be monetary or not and is used to show appreciation for the work employees are doing.
Recognition is often used to boost morale and highlight departments of specific people doing a great job. It is usually tied to a particular time rather than an overall performance and doesn't include a monetary reward.
Recognition and rewards can vary from company to company depending on their values, size, location distribution, and budget. Some of the most common ways employees get recognized through bonuses and praise.
Typically there is a structure in place for an annual review tied for a potential bonus or raise. Another way to go is using All Hands meetings to bring the spotlight on specific employees.
In both scenarios, the recognition is often top-down (manager initiated) and somewhat sporadic. Are employees only doing a great job once a month or a year? Most likely not, and they should get recognized more often as well.
The types of recognition that employees are most familiar with are bonuses and praise. Bonuses are a small (or large) financial reward for overall performance or contribution.
Bonuses are typically given by a manager and are rarely public knowledge. Written or verbal praise is another way companies show appreciation for their employees. Those can be public (think: a company meeting, a kick-off event) or private (as one would during a one-on-one with a manager or during an annual review).
Those are the most common rewards types, and while appreciated, they rarely happen often and even more rarely publicly. It's essential to find ways beyond the basics to show the value employees bring and create a culture where appreciation is not just a word in the website's Core Values section.
Recognition could take on many different shapes and sizes. Giving employees an ability to recognize each other with rewards that will add up helps create a work culture that fosters hard work, creativity, and humanity. Small written notes, shoutouts, and public acknowledgment can go a long way in preventing churn. Let's examine a few that are proven to improve company culture and morale.
Here are some examples of rewards that can be implemented in your employee recognition program:
Yes, at Assembly, security is a top priority. Each quarter, we have ongoing security work that is everyone’s responsibility. While we maintain a strong security posture, it was important for us to prove to our customers that we do everything we claim to do. This led us to pursue a SOC 2 Type II report that would provide evidence of our compliance with industry gold-standard security practice.
There is study after study showing that employee recognition leads to increased engagement. This in return creates an environment where employees are happier and more motivated which increase productivity and reduces voluntary turnover significantly. In order to filled critical roles, companies tend to spend nearly twice the value of an annual salary. Assembly is an investment in your employees that supports your bottom line.
Yes, we will offer contracts for companies with longer-term agreements to help larger customers have more certainty around future costs.
The minimum agreement term is a 12-month subscription.
We do! Any new customer needing further support to get started with Assembly to ensure you're set up for success can request custom onboarding support. These one-time services start at $5,000. Improving your employee experience is about much more than just using our amazing software; it’s about transforming your business to create a workplace that people love. That’s much easier to do with the personal support and advice from our passionate people experts.
Yes. We offer a completely free plan for up to 50 team members. This plan is intended for teams or organizations that are looking to get started with an employee engagement tool. Keep in mind, this plan is limited in features.
All customers can open an Assembly account for free and get started without a credit card. Then you can change plans as necessary.
At the time of redemption (when your employees exchange their points for a paid reward) you'll pay face value. If a reward is a $10 Amazon gift card, your cost will be $10. All paid rewards are billed for on a monthly basis.
The good news is that you don't have to pay for rewards upfront because we only charge you when points are redeemed, not when they're earned.
We offer discounts or educational or charitable organizations. In order to secure a discount, you'll first need to book a demo with a customer support specialist.
For all other organizations, we are willing to consider longer-term agreements in exchange for discounts. To set up annual plans or longer, you will need to book a demo with a customer support specialist.
If you're on a month to month plan, you can go here and cancel anytime. If you're having concerns or need help setting up your account for success, you can always book a demo with a customer support specialist.
If you're on a longer-term custom plan, you'll need to reach out to your customer support specialist to cancel your account or email us at email@example.com.
Great question! You can customize your core values to match your organization's to boost and track alignment. You can change your currency from the 🏆 emoji (our default) to any emoji of your choice. You can swap our logo for your own. You can also set up company culture rewards such as, "Lunch with the CEO," "Buy a book on us," and so much more!
While we recommend a peer to peer set up where anyone in your organization can give or receive recognition, you can set up Assembly however you want. If you need to limit the people who can give or receive recognition, that's perfectly fine and can be done from your Admin, here.
Assembly connects to the tools your employees use every day to offer an easy, seamless experience with minimal change management.
Assembly has integrations with HCM/HRIS systems like ADP, Google, Office 365, and Slack. We also integrate with communication tools like Slack and Teams so you and your employees can access Assembly wherever they work now.
That depends on the company's permissions set up. That said, over 90% of the employees on Assembly's platform are recognized on a monthly basis. That means nearly every employee across all of our customers are receiving regular recognition from their peers, managers, or leadership. We're extremely proud of this.
They are not required. You can use Assembly without having rewards set up. However, we don't recommend it if you intend to have a high adoption and usage rate. You can always keep the costs down by offering internal culture rewards that are fulfilled by you internally.
No, you can remove allowances from anyone or everyone. It's up to you but we do recommend using points whether they're worth a real dollar value or not. Companies that use points have a much higher engagement rate even if those points don't exchange for real dollars.
Please schedule time with an expert and we will help you to get all your questions answered