HR portal for effective employee retention and employee motivation
Employees are a valuable asset in any company. They are hired at great expense and painstakingly trained before becoming an important component of the organization. But how can i continue to motivate my employees for their work in the company? Many employers ask this question. The HR portal from Magmapool provides you with an effective module for employee motivation and employee retention.
The company’s internal HR portal is based on the Magmapool software netcentive® and can be individually adapted to your employees. All important HR functions are integrated into the online portal: tax-free gifts to employees (tax-free contributions), discounted shopping for brand-name products for employees, company health management, team building activities, direct employee communication through theme stages, promotions or mailings, and rewards and trips for performance motivation. The HR portal is motivating, informative and exciting for your employees – and easy for you the employer to manage. A win-win situation for your company.
Compile your web-based HR portal for employeee retention yorself
Simply choose from seven different modules for employee retention / employee motivation:
1. Employee advantage shop
Employees receive exclusive access to big discounts and free shipping on brand-name products and special employee offers for travel and experiences.
Your employees will feel like true VIPs as they enjoy an exclusive shopping experience with a variety of the latest brand-name products at deeply discounted prices and with no shipping costs. In addition, a trip planner with discounted travel offers is available to employees.
- Exclusive access to over 700 brand-name products discounted up to 40% as well as trips
- Easy payment via direct debit, PayPal and credit card
- Fast and free shipping to your home
2. Tax-free gifts to employees
Take advantage of the statutory tax benefits: earn up to 44 EUR per month tax-free and social security contribution-free for employers and employees.
Your employees can receive 528 EUR per year this way, which they can exchange conveniently in the HR portal for non-monetary or travel bonuses.
- Pay 44 EUR to employees tax-free in the form of bonus points or in Euro amounts
- Employees can cash in bonus points or Euro amounts for attractive non-monetary or travel bonuses
3. Performance-based rewards
for overtime or special commitment
In your company, there are times when special employee commitment is needed. Whether it’s overtime or successful project completions, your employees have an enormous share in the success of your company.
Say “thanks” to your employees in the HR portal and express your appreciation. Reward special commitment such as:
- Work on Sundays and overtime
- Successful project completions
- Special support for colleagues
- Ideas regarding process optimization, portfolio expansion or product development
- and much more
4. Company health management
Establish a special health program in the HR portal.
A healthy employee is a happier, more motivated and more efficient employee. Support your employees with a special health program in the form of company health managament. To do this, you could, for example, invest the monthly tax-free amount of up to €44 or the annual tax-free amoun of €500 in measures to improve employee health. In addition, provide your team with special health bonuses in the HR portal.
Go on the health offensive now:
- Use tax avantages
- Sports and fitness bonuses
- Reward for successfully completing health courses (sports courses, nutrition courses, etc.)
5. Reward advanced training
Reward employees for professional training measures.
The personal and professional development of your employees is important so that your company remains competitive and is equipped for the future.
Reward your employees in the HR portal for professional training measures completed. This also encourages them to continue their education.
- Bonus points or direct bonuses for completing internal or external training programs
- Extra points for outstanding success in completing a course
- Additional points for successful time management
6. Plan activities
Simply say “thank you”.
Motivate your employees with interactive team activities in the HR portal, such as:
- The big Easter egg hunt
- The interactive Advent calendar
- The FIFA World Cup betting game
- and much more
7. Special occasions
Use gifts to strenghten the personal connection with your employees: give a stat-subsidized bonus up to €60 (tax-free and social security contribution-free) for their birthday or wedding.
Whether it’s a wedding, the birth of their first child, or a birthday. For these personal events, you can give your employees gifts up to a tax threshold of 60 EUR tax-free and social security contribution-free.
Among the personal evnts approved by the tax office are:
- Baptism of a child
- Company anniversary
- and much more
It is free for you to set up these 7 modules and an individual company branding.
Case Study Employee Retention
Definition Employee retention
One of the most important objectives of a company’s staffing policy is employee retention. Measures to retain qualified employees often refer to the team envireonment, the company structure, and supervisors’ behavior. Some companies implement employee retention bonus portals or bonus programs to give employees a special reward in addition to their salaries.
Employee retention: Why incentives for employees have a lasting effect
Rewards like employee incentives, bonuses or tax-free gifts are part of today’s work lie. These measures to motivate employees are usually aimed at increasing performance and the desire for greater employee loyalty. In the topics of employee retention and employee satisfaction, extrinsic motivation approaches above all play an important role, as Magmapool’s HR portal proves.
How do you motivate employees? Business consultatns often point to an “intrinsic” motivation approach on this subject. This describes the tendency of people to find and pursue enthusiasm in an activity that comes from within themselves. But when it comes to the real working world, this intrinsic motivation is often wishful thinking; not every employee is able to find enthusiasm that comes from within in their everyday occupation. Extrinsic influences such as salary or bonuses for employees are almost always a stronger motivation.
Leadership and motivation expert Dr. Dieter Frey of LMU Munich summarizes the topc of employee motivation very clearly: Employees are people – and people regard work superficially as a means of securing their existance. They need money to live. According to Dr. Frey’s research, “Satisfying this existential need […] is an extrinsic, so an external, reason to got work every day. But in the long run, only a few have intrinsic, i.e. internal, motivation.”
How do you motivate employees?
A current sudy confirmed Dr. Frey’s hypothesis: In response to the question “What most effectively promotes your commitment and employee satisfaction?” employees worldwide chose “salary and recognition” as teh most important factor (“2018 Trends in Global Employee Engagement” by Aon-Hewitt). It is clear that money always plays an important role. However, with the HR portal for employees, Magmapool dedicates itself to the second factor: recognition.
Motivation psychology has always shown that more money leads to a short-term increase in employee motivation at best. The monetary amount is merely a sober number on the bank account, and disappears unnoticed into the household budget. The employee doesn’t associate the deposit of money with special performance, nor with his employer in the long run. There are other reward approaches that express recognition more clearly. Especially in companies with hundreds or thousands of employees, non-monetary and experience bonuses – so-called employee incentives – are suitable. A new smartphone, chick patio furniture, or a travel incentive: these rewards create a lasting impressio. As a daily expression of appreciation from the employer.
Employee incentives must be personal
Often it is not taken account that employee incentives are only motivational if they are individually tailored to the person. For this, Magmapool’s HR portal allows every employee to accumulate bonus points or Euros and select their desired non-monetary bonus themselves. In this way, companies can provide irresistible incentives.
But rewards and recognition are only effective if they are not randomly distributed to employees. From a psychological standpoint, it is important for the company to explain why the employee receives a reward. That way, the employee incentive is perceived more as targeted recognition. This personal approach to rewards is the driving principel of Magmapool, and it leads to lasting performance motivation and employee retention.