How to Simplify Your Employee Rewards Using a POS System

Establishing an employee reward system can bring great benefits to businesses in terms of retention, cost savings, and talent acquisition. With the right point-of-sale (POS) system by your side, the process of rewarding employees for their performance can be streamlined. 

There’s little doubt that employee rewards and benefits make a big difference in job satisfaction. According to MetLife research, 30% of employees are willing to forego a higher salary for improved benefits. 

However, implementing and managing employee reward schemes can be riddled with inconsistencies. Although there’s a clear budget-friendly element to this structure, it can soon backfire if employees feel that their hard work isn’t being acknowledged in relation to their colleagues. 

This means that an effective system is imperative for businesses to maintain morale throughout the company. With the right automated HR tools in place, employee rewards can be managed with unprecedented control. With this in mind, let’s take a deeper look at how to simplify your employee reward scheme with the help of your POS: 

Unprecedented Employee Management

The great thing about electronic point-of-sale (EPOS) systems is that they can help you to manage your workforce in a more comprehensive and holistic manner. 

Crucially, your POS system can monitor established performance metrics that are core to your operations, like sales generation, order accuracy, and service speed. This can help to highlight employees who may need extra training while highlighting the best outliers from its reporting capabilities. 

Additionally, EPOS hardware and software can help to introduce better time management among employees, offering oversight in terms of shift breaks and even holiday requests within company systems. 

Establishing a Reward Structure

You’ll also need to consider how to incentivize employees to perform well in respective metrics. Using the data from your POS system, it’s worth building a reward structure that acknowledges key metrics for outperformance in a way that’s achievable and desirable for workers. 

These rewards can be tied to your POS data and can come in the form of bonuses, commissions, gift cards, appraisals, or contests. Crucially, this can not only incentivize your staff but inspire them to discover new ways to outperform benchmarks and achieve more desirable rewards. 

Here, it’s important to keep your reward structure closely aligned with the insights your POS provides for ease of reference. Introducing a tiered structure can also help employees work towards rewards without being put off by higher thresholds to trigger more desirable rewards. Even low-impact rewards like store discounts, extra holidays, or free products can be a great way to appeal to staff. 

Points-Based Rewards

Your POS system can introduce a points-based reward scheme where employees can earn points based on predetermined criteria to cash in for their most desired benefits, freebies, or incentives. 

Because of the reporting capabilities of modern POS systems, it’s easy to offer points for criteria like attendance, reaching specific sales targets, completing inventory management tasks, or just about any other contribution to company operations. 

The POS can also use integrations to track these points so that employees can access rewards in an automated or semi-automated way. 

Employees and employers alike can also benefit from a feedback loop where managers will be able to share the direct results of their efforts as a means of reinforcing their behavior and keeping them engaged over time. 

Identifying Training Opportunities

Another major mutually beneficial facet of introducing a reward scheme alongside your POS system can be found in the implementation of fresh training opportunities for employees. 

Most modern POS systems have built-in training modules, and their reporting capabilities can quickly alert business managers to possible comprehension gaps that are impacting their core metrics in terms of inventory management, sales, or customer service. 

This will become more apparent when aligned with your employee reward scheme, and this means that your star staff can be appropriately rewarded for their performance, while underperformers will be given every opportunity to build their competencies and skills to compete with your strongest staff members. 

Building a Sustainable Working Environment

Investing in the right point-of-sale system to suit your needs can not only leverage frictionless customer purchases but also encourage employee retention and talent acquisition through appealing reward schemes that ensure that outperformance is fairly acknowledged. 

This engaging innovation will help your staff to stay motivated in unlocking their rewards while any underperformers can be quickly retrained to ensure the best chance of success.

With a flexible point scoring system, you can introduce obtainable and desirable rewards that match employee expectations to foster greater engagement. This helps decision-makers to focus on their operations, safe in the knowledge that their in-store staff have sufficient motivation and monitoring as part of their integrated POS system.