Commercial property investment and development company Segro spontaneously hands out Red Letter Day experience vouchers worth £250 to individual employees to recognise good work and thank them for a job well done.
But the incentives are not one-offs, says Mark Pearce, the company’s UK HR director. “There is no limit to the number of times an employee can receive a recognition reward.”
Segro introduced the awards five years ago after an employee engagement survey revealed that 69% of its 300 employees felt that their contributions were not recognised.
“This is in addition to the normal bonuses and salary reviews,” says Pearce. “It is very much about the manager acknowledging and recognising the performance of the individual and making sure they feel valued.”
The vouchers are not kept secret, but are not presented in any formal way. “Our approach is very much discretionary,” says Pearce. “We have tried to avoid coming up with lengthy guidelines and policy. Instead, the focus has been on encouraging line managers to recognise exceptional performance.”