ROI OF INCENTIVE AND RECOGNITION PROGRAMS

Properly designed and implemented incentive and recognition programs improve performance and ROI in sales, office and manufacturing environments.

THE ROI OF SALES AND EMPLOYEE INCENTIVES

One of the studies that have examined the power of incentive programs is Incentives, Motivation and Workplace Performance: Research and Best Practices. This study found that individual incentives improved performance by 27% and team incentives improved performance by whopping 45%. Incentives deliver Return on Investment (ROI).

What is Your Incentive Strategy?

It is Incentra's job to help you create an incentive process that maximizes the performance of your target audience, resulting in a measurable improvement in sales, profits, quality, safety, attendance or other area that can deliver real dollars to your organization's bottom-line.

We do this by taking a holistic, 360° approach to incentive program development that includes behavioral science and motivational theory leveraged by marketing promotions and rewards that deliver buy-in, excitement and results.

360° Approach to Incentives

Thinking in terms of a 360° approach to incentives means that Incentra helps you begin to create a proactive and comprehensive incentive strategy and process that will truly target audience actions, attitudes, engagement and performance. We help you address these 60° segments:

• Strategy that includes all program elements and is guided by ROI.
• Clear rules that identify desired behaviors and longer-term performance goals.
• Engagement of all stakeholders; top management, managers, and employees.
• Technology to make incentives easy for managers and participants.
• Communications and training to build awareness and engagement.
• Rewards that excite and motivate all the generations in your audience.

It is a cycle of success that is ongoing, focusing on key outcomes and metrics to create sustained, higher levels of participant engagement and performance. Elevating your culture is never a standalone initiative; Incentra always ties incentive solutions to mission, vision and tangible business results.

Incentive Opportunities Expanded

Today, there are many opportunities to incentivize behaviors that result in more profitable performance. Wherever performance can be measured, you can motivate employees and sales channel members to perform at higher levels for real ROI. Examples include individual and team sales growth, improvements to quality, productivity, safe work, attendance, suggestions, retention, referrals, customer/patient satisfaction, etc.

So if you are ready to improve your target audience's performance and ROI through a more strategic and 360° approach to Sales Incentives, we really should be talking. . .

THE ROI OF EMPLOYEE RECOGNITION

Effective Recognition Drives Business Results

Recognition is one of the most powerful, yet least appreciated, management tools. In studies by Towers Watson, the Corporate Leadership Council and Gallup Consulting, employee recognition has been proven to impact employee engagement, which drives business results. Organizations with engagement scores in the top quartile have 50% higher productivity, 13% lower turnover and 44% higher profits than those in the bottom quartile (Gallup Consulting). See the Executive Overview (PDF) to the study "The ROI of Recognition - Complete Study (PDF)" by the Incentive Research Foundation.

What is Your Recognition Strategy?

While recognition has been proven to improve employee engagement and deliver ROI, most organizations have no recognition strategy – just a group of unrelated recognition programs with scattered accountability, little budget tracking, and no alignment with corporate mission and values. In fact, just by taking existing recognition dollars and repurposing them with a 360° Recognition approach, you can create a new recognition system that will be dramatically more effective.

360° Recognition

Thinking in terms of 360° Recognition means that Incentra helps you begin to create a proactive recognition strategy and process – as part of a total rewards benefits approach – that will truly impact employee engagement and improve your culture. We help you address these 60° segments:

• Informal and formal recognition that is daily, weekly, and monthly.
• Multiple recognition and performance initiatives that go beyond Service Awards.
• Engagement of all stakeholders; top management, managers, and employees.
• Technology to make recognition easy for managers, administrators and employees.
• Communications and training to build awareness and recognition skills.
• Awards solutions that excite all the generations in your workplace.

It is a cycle of success that is ongoing, focusing on key employee outcomes and metrics to create sustained, higher levels of employee engagement and corporate performance. Elevating your culture is never a standalone initiative; Incentra always ties recognition solutions to mission, vision and tangible business results.

Improved Performance for ROI

Today, there are also many opportunities to incentivize behaviors that result in more profitable performance. Wherever performance can be measured, you can motivate employees to perform at higher levels for real ROI. Examples include individual and team improvements to quality, productivity, safe work, attendance, suggestions, retention, referrals, customer/patient satisfaction, etc.

So if you are ready to improve Return on Investment by elevating employee engagement through 360° Recognition or Recognition Solutions or you'd like to grow sales through Sales Incentives, we really should be talking. . .