In an attempt to increase employee health, tech company Qualtrics has implemented an experience bonus program that grants employees $1,500 to have an experience they would normally not be able to have. The program is intended to support Qualtrics' mission statement of giving employees and customers the best experience possible. Unlike experiences that often aim to bolster an employees value to the company, the Qualtrics experience bonus program focuses more on the individual and the enjoyment they get thanks to the company they work for.
To qualify for the program, employees must have been with the company for at least a year and work full-time. From there, employees simply need to inform HR of their next adventure and payroll will deposit the money into their account. The program has already been used by 668 employees and each experience is tailored to Millennials, who make up 80% of the workforce at Qualtrics.
Employee Experience Programs
Qualtrics' Experience Bonus Program Funds Employee Adventures
Trend Themes
1. Employee Experience Programs - Qualtrics' experience bonus program offers disruptive innovation opportunities to enhance employee satisfaction and retention.
2. Workplace Wellness Initiatives - Qualtrics' implementation of an experience bonus program highlights the growing trend of companies investing in employee well-being and happiness to improve productivity and loyalty.
3. Millennial-focused Employee Benefits - The Qualtrics experience bonus program demonstrates the increasing importance of catering employee perks and rewards to meet the preferences and needs of the millennial workforce.
Industry Implications
1. Technology - The tech industry can explore disruptive innovation opportunities by adopting experience bonus programs to boost employee engagement and foster a positive workplace culture.
2. Human Resources - The HR industry can embrace disruptive innovation opportunities by developing and implementing employee experience programs that go beyond traditional compensation and benefits, and focus on holistic employee well-being.
3. Hospitality and Travel - The hospitality and travel industry can capitalize on disruptive innovation opportunities by forming partnerships with companies implementing experience bonus programs, offering unique adventure experiences to employees as a new revenue stream.