{"id":371,"date":"2022-02-01T08:00:38","date_gmt":"2022-02-01T08:00:38","guid":{"rendered":"https:\/\/www.biworldwide.com\/en-au\/?p=371"},"modified":"2025-04-03T14:50:58","modified_gmt":"2025-04-03T03:50:58","slug":"five-ways-to-structure-a-sustainable-rewards-strategy","status":"publish","type":"post","link":"https:\/\/www.biworldwide.com\/en-au\/our-work\/blog\/five-ways-to-structure-a-sustainable-rewards-strategy\/","title":{"rendered":"Five ways to structure a sustainable rewards strategy"},"content":{"rendered":"
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\n\t\t\t\tFive ways to structure a sustainable rewards strategy\t\t\t<\/h1>\n\t\t\t\t\t\t\t\t\t\t
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Sustainability\u202fis\u202fnot only important business,\u202fit\u2019s\u202fgood business.\u202fCheck out our five ways to\u202fstructure a sustainable rewards strategy.\u202f <\/p>\n\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\tTom Nash\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t, Account Director, BI WORLDWIDE Australia<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\tMore about the author<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

“Sustainability\u202fis\u202fnot only important business,\u202fit\u2019s\u202fgood business”.<\/strong><\/strong><\/h3>\n\n\n\n

Research and anecdotal evidence<\/a> show\u202fthat when investors embed Environmental, Social, and Governance (ESG) considerations into their strategies they achieve superior valuations. In fact,\u202fan analysis of the ASX200\u202fby PWC Australia found that ESG leaders significantly outperformed their lower-ranked peers when it came to\u202fvalue-weighted total shareholder return<\/a>.\u202fBut when it comes to global reward strategies how do you balance the need for global efficiency and effectiveness with the broader, bigger need for a transition towards a more sustainable future?\u202f<\/p>\n\n\n\n

Here are\u202ffive ways<\/strong>\u202fwe\u2019ve identified you can leverage your reward strategy to support your wider ESG goals.\u202f\u202f<\/p>\n\n\n\n

1.\u202fRecognise and reward sustainable choices<\/h3>\n\n\n\n

In organisations that are creating value through sustainability,\u202f60% of employees say that sustainability is a part of the corporate culture.\u202fDrive change and build a sustainable culture within your organisation by recognising and rewarding employees making sustainable choices. Whether it\u2019s cycle\/walk to work schemes, car share networks or implementing local sustainability initiatives, encourage and reinforce positive behaviours through your\u202freward and recognition programme<\/a>.<\/p>\n\n\n\n

2.\u202fLet employees donate their reward to causes<\/h3>\n\n\n\n

With\u202fcost of living\u202fpinching on employees\u2019 disposable income, their own ability to donate and support causes of meaning to them may be limited. Allow them to use their recognition rewards to close the gap between their desires and abilities. In the past five years we\u2019ve seen a year-on-year increase in the value of charitable donations through our Australia operated marketplace and, in 2022 alone, donations increased by over 400%, demonstrating a trend towards more altruistic redemption behaviour.\u202f \u202f<\/p>\n\n\n\n

In\u202f2022 alone, donations\u202fincreased by over 400%.<\/strong><\/h3>\n\n\n\n

3.\u202fDigitise your selection<\/h3>\n\n\n\n

Whilst most reward and recognition schemes have gone digital, some reward options and processes may still feature paper or paper equivalents. Review voucher providers and push for digital solutions.\u202f\u202f\u202f<\/p>\n\n\n\n

4.\u202fCreate sustainable catalogues<\/h3>\n\n\n\n

For many, there\u2019s a desire to become more sustainable, but there\u2019s also a knowledge gap as to how to make more sustainable choices. Nudge the journey by curating sustainable reward collections that allow employees to choose rewards with more sustainable credentials.\u202f<\/p>\n\n\n\n

5.\u202fThink shipping<\/h3>\n\n\n\n

It\u2019s all well and good having a sustainable catalogue, but if the fulfilment solution means rewards are crossing borders you may be diluting the result. Seek to leverage a reward provider that can offer local coverage to your employees to minimise the impact of shipping costs. Better still, seek a provider that\u2019s also asking sustainable practices of their supply chain, magnifying the impact from end-to-end.\u202f<\/p>\n\n\n\n

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Sustainability\u202fis\u202fnot only important business,\u202fit\u2019s\u202fgood business.\u202fCheck out our five ways to\u202fstructure a sustainable rewards strategy.\u202f\u00a0<\/p>\n","protected":false},"author":27,"featured_media":475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"associated_experts":[{"id":407,"title":"Tom Nash","type":"industry-expert","slug":"tom-nash"}],"featured_image_focal_point":{"x":0.5,"y":0.5},"footnotes":""},"content-topic":[11],"problem-space":[6],"class_list":["post-371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","content-topic-employee-rewards","problem-space-employee-engagement"],"featured_media_global":[],"yoast_head":"\nFive ways to structure a sustainable rewards strategy - Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.biworldwide.com\/en-au\/our-work\/blog\/five-ways-to-structure-a-sustainable-rewards-strategy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five ways to structure a sustainable rewards strategy - 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