Creating a Rewards Survey That Gets Results

Any company aiming to create an effective rewards program understands that they need to start with a survey. A rewards survey allows leadership to better understand what motivates their team. The key is crafting a survey that provides meaningful data. When done right, a rewards survey can uncover insights into building a rewards program that inspires loyalty and increases productivity.

What Is a Rewards Survey?

A rewards survey is a questionnaire used by companies to understand and evaluate the spectrum of employees’ pay and benefits. This survey delves beyond monetary pay and considers all the elements that influence a company’s total rewards program.

A rewards survey provides companies with meaningful insights into what motivates their employees. It gathers employee feedback on their  compensation and benefits, impacting satisfaction, engagement, and retention. The results allow companies to make informed decisions on their rewards program  and help them attract, motivate, and retain top talent.

Benefits of Administering a Rewards Survey

Conducting a rewards survey provides diverse benefits to a company. A rewards survey helps gauge employee satisfaction with their current benefits and rewards program. By analyzing the results, companies can determine if the rewards program is meeting the needs of their employees.

A rewards survey gives employees a voice and a chance to express their thoughts. This can boost morale and job satisfaction, making employees feel heard and valued. When companies act on survey feedback, it shows they care about employees' wellbeing and happiness.

A rewards survey helps identify any problem areas in the rewards program. If certain benefits are untapped or if certain employees feel under-rewarded, the survey can bring these issues to light. Companies can then make essential adjustments to address issues and ensure a fair rewards program for all.

Designing an Effective Rewards Survey

To design an effective rewards survey, these are the vital aspects to keep in mind:

Clear Goals

Establish clear goals for what the company wants to learn or achieve from the survey. Does it aim to determine how to improve employee satisfaction? Or gain insight into what motivates the team? Outline 2-3 specific goals to keep the survey focused.

Anonymity and Transparency

Explain the purpose and confidential nature of the survey to employees. Let them know their responses will remain anonymous and will drive meaningful improvements. This transparency will yield the most honest and helpful feedback.

Question Types

Include a mix of question types, like multiple-choice, rating scales, open-ended, and ranking questions. This variety prevents survey fatigue and allows for both quantitative and qualitative data. For sensitive topics, open-ended questions may elicit the most thoughtful responses.

Offer Incentives

Companies can provide an incentive for completing the survey. This can include gift cards or extra paid time off. Incentives improve response rates, which leads to more significant insights. Even a small reward shows that the company values their employees’ input.

Review and Implement

Carefully analyze the survey results and look for key trends. Then, develop a plan to implement reasonable and impactful changes based on the feedback. Share these intended improvements with participants to build goodwill and encourage future participation.

Following these best practices will help design a rewards survey that yields valuable, actionable insights. With an effective survey and follow- through, companies can gain meaningful insights into improving satisfaction, productivity, and long- term commitment.

How to Conduct a Rewards Survey

To conduct an effective rewards survey, here are the key steps companies must follow:

Design the Survey

Determine what the company wants to learn from the survey and design questions to uncover these insights. Focus on open-ended questions about what motivates employees. Keep the survey concise, around 10 to 15 questions.

Choose a Survey Tool

Select a digital tool to build and distribute the rewards survey. Free options like Google Forms or SurveyMonkey are easy to use. These tools allow the company to create tailored survey questions and analyze the results.

Promote Participation

Send an email explaining the purpose of the survey and encouraging employees to provide open and honest feedback. Follow up with reminder emails leading up to the close date. Consider offering an incentive for completing the survey to boost employees’ involvement.

Review and Analyze the Results

Once the survey closes, review and analyze the results to identify key insights. Look for common rewards that motivate the team. The data and comments will help determine the rewards that will drive the highest engagement.

Act on Results

Develop a rewards program based on the survey results. Communicate the new program to employees and express gratitude for their feedback. Share how their input helped in shaping the program. Acting and closing the loop with employees builds trust and goodwill.

Responding to Rewards Survey Results

Once the rewards survey results are in, it is time to analyze the data and determine the next steps. Look for trends in what employees value and find meaningful. See what kinds of rewards the majority prefer. Pay attention to any noteworthy comments or suggestions.

The results may point to easy wins, like implementing highly requested, low-cost rewards right away. This shows that the company takes employee feedback seriously. Other findings may require further discussion to determine their feasibility. Set up focus groups or committee meetings to explore options and gain more input.

When reviewing results, keep an open and growth-oriented mindset. Do not dismiss ideas outright but look for compromise and ways to make them workable. Consider a rewards program that offers choice and flexibility to suit different preferences and lifestyles.

Communicate the changes in the rewards program to all employees. Explain how their survey input directly shaped the new policies and incentives. This reinforces that their voice matters in creating a positive work environment.

Evaluate how the program is working and adjust as needed. Repeat the rewards survey in 6-12 months to assess employee satisfaction and identify further improvements. When done correctly, an effective rewards program fuels a highly engaged workforce and workplace success.