In the last post we talked about the benefits that incentive programs can offer to employers as well as employees. Typically speaking those companies that implement a rewards program do so because they understand the benefits that it will offer those who work for them but they also understand what these benefits mean to the company as a whole. After all, the goal of any business is to earn money and without a strong employee base you are certainly at a disadvantage in reaching that objective effectively.

The purpose of incentive programs is to offer employees particular rewards for meeting specific goals. The goals can be structured any way in which the company chooses them to be and can recognize employees who reach particular sales objectives or simply honor great work all around. The incentives themselves are also chosen by the employer and can be tired to meet their needs and their budget. Incentives can be changed at any time which means that an employee recognition program can evolve as the company grows and changes.

While we know that the benefits to employees are the incentives themselves as well as the recognition from their employer, the benefits of a rewards program for an employer are numerous as well. Some of the benefits that we discussed in the first post included the ability to support higher morale among the staff as well as the ability to reduce turnover as a result.

Some other benefits include:

• Clearly define company goals. In order to be successful at achieving particular objectives a company needs to ensure that everyone is on the same page. Incentive programs allow employers to clearly define their goals and communicate those goals to their employees so everyone can work towards a common objective.

• Keep in touch. When you’re monitoring employees for incentive programs you have the opportunity to stay engaged in what they are doing from day to day. It is a great way to “check in” and stay involved.

• Thank employees appropriately. Our days get so busy that sometimes we are less able to recognize employees as we should. A rewards program allows us to say thank you!

Popularity: 77% [?]

Share This

When a company implements a new program of any kind – especially one that directly impacts its employees – they likely do so with the confidence that it will be a benefit to both their staff and the company as a whole. After all, when employees are happy, work is often improved and subsequently the entire company benefits overall. It behooves businesses to keep their employees happy and motivated – especially good employees that they want to retain for the long haul.

Obviously salary and benefits are a part of an employee’s compensation package. But incentive programs are another way in which companies can reward hardworking employees who achieve particular goals. Incentive programs are varied and can include whatever products or rewards that the employer deems appropriate and affordable. The great thing about incentive programs is that they can be skewed according to whatever the company’s needs at the time and can be adjusted whenever employers chose.

Obviously incentive programs offer benefits to employees who are willing to work and achieve particular goals. When they work hard for something and are rewarded with something interesting or exciting they feel recognized for a job well done; everyone wants and deserves a pat on the back sometimes and backing that up with a great trip or a piece of electronic equipment doesn’t hurt either! But an employee recognition program also offers substantial benefits to the employers who implement it. Clearly such a program needs to be beneficial to both sides for it to work as it should.

Some of the benefits of a rewards program for employers include:

• The ability to motivate employees. Employers can set particular goals and identify those incentives that will be available to those who reach the goals. It allows employers to motivate their team in a creative and unique way.

• The ability to retain great workers. Turnover is a problem in any business and it’s an expensive problem as training programs for new employees cost a company time and money. Incentive programs recognize hard work and help support high employee morale resulting, in less turnover for a company.

More benefits in the next post…

Popularity: 68% [?]

Share This

In the last post we talked about some of the reasons that companies tend to implement incentive programs into their overall daily operations. Companies are always concerned with the bottom line but right now, in this economy, watching the bottom line has become something of an obsession for companies of all sizes. Things are too precarious; anything can happen and it is up to management and ownership to do what they can to manage the possibilities as best they can. Obviously maintaining effective operations is most critical and to that end, incentive programs are helpful in motivating employees to reach defined goals and helping to improve productivity overall. Companies that choose to implement an employee program understand the importance of setting manageable objectives and rewarding their top performers – for the reasons we have identified.

But one reason that must always be considered that can explain the success of an employee program is the example that a top performer can set for the rest of the employee base. Those who reach particular goals and are not only recognized by management and owners – but are rewarded with attractive incentives – from trips to jewelry and electronics – cause a stir within an organization. Other employees will take note of the attention given to top performers – not to mention the bevy of products and incentives that are presented to them – and they will want that for themselves as well. In most cases the competitive nature of those in a team will kick into gear and they will work to reach the same level of achievement those who received incentives achieved; and in most cases they will work to surpass these standards.

All in all, incentive programs give employees the motivation to achieve what their company wants them to achieve and offer them the opportunity to earn great prizes as a result.

Popularity: 81% [?]

Share This

Anyone who is charge of managing people in business has likely studied the effects of group dynamics; how certain personalities work and how their manner of working – and communicating – can change according to the people, and personalities, with whom they are working. There are natural leaders in any group, as well as those who naturally fall into a following role. There are some who are shut down by those who are louder and more aggressive than they are and some who rise to the challenge and choose to compete. The psychology of human behavior in a group setting is interesting to say the least and certainly telling – and helpful – for those who want to assemble a team that is successful in their endeavors.

One of the other important things to note about human behavior is our natural capacity to compete and our desire to be recognized for what we achieve. When incentive programs are implemented in a company setting they are meant to reward top performers who have reached particular goals. Companies utilize rewards programs for a number of reasons, not the least of which is to fuel employee morale and improve production. Those who are interested enough in incentives will work to achieve identified goals in order to receive the rewards but also to gain recognition among their co-workers. This can have a profound effect on the company’s production as a whole. After all, employees who feel that they are being recognized for their efforts are happier, and happier employees mean less turnover. Additionally, when employees are working hard towards a particular goal then production is naturally increased.

An employee program is important and successful for all of these reasons and more – but one important reason to consider is the fact that when a top performer reaches a goal they are setting an example for the rest of the employees.

Popularity: 79% [?]

Share This

Staying motivated in the sales game can be a challenge no matter what the economic environment but now, more than ever, those in sales have an enormous amount of pressure on their backs. People are simply not spending money they way that they used to and those who are in the position of having to sell a product or service better have some hard evidence of an excellent return on investment if they are going to convince anyone to part with their cash. How do employers support their sales team most appropriately and offer them the tools and the motivation to keep on moving in these troubled times? Through incentive programs that are implemented companywide.

Sure, money is always the goal when it comes to sales. In fact, most salespeople work on a commission basis – taking a percentage of the amount that they are able to sell. But those companies that consider also implementing a rewards program offer another level of incentive for those who are working hard to sell the company’s product or service.

A tiered employee program offers short and long term objectives and pairs the meeting of those goals with particular incentives as identified by the employer. Working with a reputable, professional incentive provider helps companies to determine the tiers of gifts that work best for their needs and how best to offer their sales team the motivation to reach particular identified goals.

Incentives can include everything from trips and jewelry to electronics and apparel. The choice of incentives is completely up to the employer but the fact remains that no matter what particular incentives are chosen the fact that employees have access to prizes over and above money will keep them working hard to reach their goals and will ultimately increase sales for the company overall.

Popularity: 73% [?]

Share This

In the last post we talked about some of the challenges facing businesses across the board at the present time. Companies have economic constraints in the current climate and have answered these challenges by tightening their belts and even cutting their staff. The result is added pressure on remaining staff members to pick up the slack and keep operations running as smoothly as possible. No company wants a high turnover rate, unhappy employees, and slowed production regardless of the circumstances. But how do businesses attend to their employees without blowing their budget?

As we discussed, employee incentives are a cost-effective way to recognize employee contributions and accomplishments that achieve a host of benefits including improved morale, decreased turnover rates, and improved and increased production. So what makes an effective employee program? First and foremost it is important to work with a professional, experienced company that can guide the way in your employee recognition efforts and help suggest the incentives that will be interesting and worthy to your employees as well as affordable for your budget. Remember that employee incentives are tiered according to goals that are achieved and the entire program is scalable to the size and budget of your company and can be adjusted at any time. But no matter what, variety of incentives is what really makes a successful employee program; incentives such as:

• Gift Cards to local stores or restaurants.
• Technology such as computers, televisions, PDAs, phones, iPods, GPS, DVD players, and more.
• Toys and games.
• Gourmet food.
• Travel incentives.
• Apparel and accessories including watches, jewelry, sunglasses, luggage, handbags, and more.
• Books and music.
• Plants and flowers.
• Health and personal care items.
• Music.
• Home and garden supplies.

Look for an employee recognition vendor that has an extensive catalog with rich variety.

Popularity: 74% [?]

Share This

Businesses across all industries are doing their best in a trying time that has seen them face slowed operations and even the need to lay off employees. It can be a challenge, to say the least, to keep talented workers, reduce turnover, and support effective and rapid production when money is tight and people are scared and handling more workload to make up for a lessened staff.

Many businesses in this situation, however – either before this economic downturn or since – have discovered the varied benefits of an employee program. An employee recognition program allows companies of all types and sizes to honor the work of their employees. Depending on your perspective an employee program may seem like a small thing – something not worthy or effective enough to consider. Or you may think that it’s probably too expensive a program to worth considering, since you are already struggling to maintain the bottom line.

The truth is that incentive programs are neither too costly nor inconsequential. They are effective as well as being cost-effective. In fact, those businesses that put an employee recognition program in place find that the benefits include such things as:

• Improved employee morale. When employees are being recognized for their work they tend to be more satisfied in their job.

• Improved production. Happy employees produce better work and when that work is recognized through a rewards program then employees will tend to continue the good work in search of further acknowledgement.

• Decreased turnover. Happy employees also tend to stay with a company with which they are satisfied. Employees who stay translate to decreased spending on training new employees and a more stable, productive work environment.

While employee recognition programs can be enormously effective, their success really lives in a varied and interesting selection. More in the next post…

Popularity: 75% [?]

Share This

When things are going great – when the economy is trucking along, people are making money, and production is steady – it’s easy to make employees feel safe and content. There’s money for raises, there is a steady supply of work, and company owners are often eager to share their good fortune with those who are making it all happen; promotions are given and new employees are hired. It is when the chips are down, however, that the attention to a company’s employees really counts. The economy is trudging along, production is slow, money is being watched carefully, and it is not the time for any new hiring. Many companies are in similar positions at the moment. These are difficult times to keep employees feeling safe and content but they are also the most important. So how can companies give back to their employees while still watching the bottom line? Through employee recognition programs.

Tiered, scalable employee incentive programs allow companies to recognize good work and to reward those employees who perform at such high standards or meet particular goals that are set out during a particular fiscal time period. But a rewards program is much more than that. By offering incentives to employees a company is showing that it cares what happens to its employees, it cares about the work they are doing, it cares about recognizing – and rewarding – work excellence, and it cares about its commitment to its employees regardless of the current economic conditions.

An employee recognition program helps boost morale, improve and speed production, and allow companies to retain their best workers. When employees know that they are valued they are more loyal to the company and their work improves; and, ultimately, when good work is being done the customer – the end user – benefits. By working with professionals who can organize and manage an appropriate rewards program, companies can begin putting their best foot forward with their employees.

Popularity: 61% [?]

Share This

Companies large and small are facing historic challenges at present. The economy has cinched all of our belts and there are few of us who have not been impacted in some way. Unfortunately for many companies this has meant the reduction of their workforce and having to layoff or terminate good employees because payroll numbers are simply not able to support a full staff. While things may be turning a corner, many companies are continuing to operate with light staff – employees who may be feeling the burden of shouldering their workload plus the workload of one or two of their peers who have lost their jobs. What companies are discovering – if they haven’t already – is that this type of burden can impact morale tremendously and while employees may be thankful for their jobs – as most certainly are – they may be feeling overworked, underpaid, and even underappreciated.

This is where employee incentive programs can really make a difference without companies having to invest big dollars. A tiered employee program allows companies large and small to offer appropriate prizes for employees that reach particular goals or simply demonstrate behavior that the company wishes to call out and notice of in a public forum.

An employee recognition program does many things for a company including:

• Giving employees ownership and control over their achievements. This is a time during which so many of us feel out of control of our destiny. While employee incentives don’t have to be glamorous or over the top they should be worth working for and give employees something to strive for that is worth having.

• Raising morale. Part of the responsibility of a good company is to make sure that their employees are happy. Turnover costs companies money and unhappy workers are less likely to do good work.

• Raising production. The combination of increased morale and the work that employees put forth to earn employee incentives will come together to raise productivity.

Popularity: 64% [?]

Share This

In the last post I talked about having moved up the ladder within my company – now finding myself in a management position whereas I had once been a part of the staff. Up until the point of having taken on the management role I had never really given any thought to the operations of the company as a whole – the fast paced environment that was praised for its production but often missed the boat on their personal connections and the turnover rate that I had always just assumed had to do with employees getting burnt out from the work.

But now in a different position I was called upon to look at things differently – especially if I was going to be able to make a difference in my new role, which I very much wanted to do. I noticed that we didn’t do anything when it came to employee recognition. Sure we gave standard of living raises year to year in good times but no one was ever really called out for doing an exceptional job. After a while, new employees realized that it didn’t matter how hard they worked or what great things they accomplished – no one seemed to notice; and eventually they would just move on to another job.

I decided to work with the management team to implement an employee rewards program that would identify short and long term goals for our employees so they knew what they were expected to do and to offer incentives for reaching those goals. It didn’t have to be a full blown vacation or something extravagant. We worked with a company that helped us determine the incentives that would be enticing to our staff but affordable for our needs.

So far the employee recognition program has been widely well received. People tell me that they feel noticed and like what they are doing matters.

Popularity: 65% [?]

Share This