Study after study has shown a strong correlation between incentives and increased performance. These studies show that employee performance increases (performance improvement) by
an average of 22 percent (SITE foundation; sponsored by International Society of Performance Improvement). Corporations have to compete to keep the best employees, increase
customer loyalty, and encourage their sales channels to exceed their numbers. For this, you have two options:
- First, you could enforce penalties for not performing. The results of this option can be devastating.
- Second, you can provide incentives to encourage your employees to perform, customers to buy and sales channels sell. You can sow the seeds of success.
Technically, when you walk into a sandwich shop, for example, and see a discount or a buy-one-get-one-free offer, you are being incentivized to buy.
This is a simple form of an incentive program. It works, but the effects are short-term. Instead, what if there was a program that let you accumulate the offers and
eventually allowed you to earn an iPod, gift-card or even a flat-panel TV. Imagine earning an iPod for eating lunch every day!
As a corporate executive, you need to think a little beyond the norm. How can you encourage your employees, customers or sales channels to make the
choice you want them to make? At the same time, how do you make them feel like it is their choice? The parameters within an incentive program can be complex. It is easy to
hang a proverbial carrot at a stick. The idea is to make them salivate over it. The right kind of incentive program balances their sentiments with their desires. The idea
is to allow them fulfill their yearnings and associate those with emotions like pleasure, thrill, delight and excitement.
If you would like to create an incentive strategy revolving around the philosophy described above, we are the right company for you.
Click here to find out why.
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