Reimagine year-end incentives with a smart, fresh take on employee rewards and recognition
As the year draws to a close, companies across various industries begin to think about how to recognise and reward their employees, particularly top performers. Traditionally, many opt for year-end bonuses or grocery vouchers. However, a more strategic approach is gaining traction. Steve Mallaby, CEO of adumo Payouts, advocates for businesses to consider card-based incentive schemes as an alternate payout solution for year-end rewards.
“Year-end awards and incentives are common practice in many organisations,” notes Mallaby. “These rewards are not necessarily tied to the financial year-end but are a way to recognise employee performance and effort throughout the year.”
While most companies distribute awards and bonuses in December, Mallaby stresses the importance of early planning. “If you are only starting the conversation in mid-November, you have missed the mark,” he cautions.
“The process should begin well in advance to ensure thoughtful and impactful recognition.” Mallaby believes that year-end incentives should go beyond traditional bonuses, encouraging HR, sales and marketing heads to explore more personalised options. adumo Payouts’ card-based solutions offer this flexibility, empowering employees to choose how they want to spend their reward.
“Many companies still hand out grocery vouchers or performance awards at their year-end functions,” says Mallaby. “However, offering employees choice – allowing them to use their reward in a way that suits them, creates a more personal and valued experience.”
This sense of personalisation is at the heart of adumo Payouts’ incentive offering. By allowing employees to decide how and where to spend their rewards, companies can foster a deeper connection between their people and their brand. “When employees have the freedom to choose how to use their reward, it reflects well on the brand and demonstrates how much the company values them,” notes Mallaby.
The appeal of adumo’s incentive system extends beyond its flexibility. It transforms rewards into memorable experiences. “You want the reward to feel meaningful, not just like another line item in their bank account,” says Mallaby. “It should feel significant, something employees truly appreciate and remember.”
The personalisation of these rewards adds another layer of value, instilling a sense of pride and achievement. “Recognition matters; it is not just about compensation,” emphasises Mallaby. “This kind of incentive has a lasting impact, showing that the company cares enough to provide a reward that suits each individual’s preferences.”
In addition to being flexible and customisable, adumo Payouts’ card-based incentives also offer practical benefits. Unlike cash or money into your bank account, which are often subject to debit orders or garnishees, these cards provide a secure and convenient option.
“Why are businesses still doing the same old year-end bonus routine, but expecting a different result,” questions Mallaby. “We are encouraging companies to think outside the box. With adumo, we offer a fresh, impactful approach to year-end incentive payouts that is both simple and meaningful.”
Mallaby believes this innovative approach is suitable across all industries, making it a versatile payout solution for businesses looking to elevate their year-end rewards. “We position ourselves as the go-to partner for companies looking to optimise their year-end incentive payouts.
By offering an alternative to traditional year-end bonuses, adumo helps companies deliver more meaningful and memorable rewards, elevating employee recognition in the process. For businesses looking for novel ways to incentivise their teams, adumo’s card-based incentive solutions offer a fresh, flexible and impactful payout option.
