Spring is usually thought of as a time of growth, but sometimes in business employees can back off a bit as they start thinking about their summer plans. Especially as the sun gets warmer and the days get longer, it gets harder and harder to concentrate and stay on task. That is where employee incentives from Strategic Incentives come into play.
An employee motivation program can’t just be a one-shot thing. It has to be something that is done on a consistent, year-round basis. Employees like to know what is expected of them, and are motivated by receiving some type of reward for meeting or exceeding their goals.
Strategic Incentives can help your company develop a performance improvement plan to make sure that employees stay on track all year long. Our workforce solutions and rewards programs are designed to help your company succeed and grow, while showing your employees how much you appreciate all they do to make those goals come true.
If you’re looking for an employee recognition program that will help keep your employees pumped and excited, call 888-686-8116 and talk to one of our employee incentive consultants today.Get your employees pumped for a summer of fun and growth! The Strategic Incentives Team
The Benefits of Offering Employee Incentives
Still not sure what an employee incentive program can do for your organization? Take a look at some of the research we’ve uncovered which shows just how valuable these types of programs can be:
- Employee Recognition Reduces Turnover: Bersin & Associates by Deloitte published a research report entitled, “The State of Employee Recognition in 2012,” which indicated that recognition plays a much more measurable role in business performance than previously believed. They found that companies with recognition programs that are highly effective at improving employee engagement have 31% lower voluntary turnover than their peers with ineffective recognition programs. At Strategic Incentives, we know how to help your company implement an effective employee incentive program that will increase morale and reduce turnover.
- Employee Turnover is Expensive: In 2013, global management consulting firm, the Hay Group, and the Centre for Economics and Business Research conducted a study entitled, “Preparing for Take-Off,” which looked at trends in employee turnover. They predicted that by 2018 average employee turnover rates would rise to 23.4 percent from 20.6 percent. In 2014 they estimated that 161.7 million workers would depart from companies worldwide, a 12.9% increase from the number of departing workers in 2012. This turnover can cost companies billions of dollars in lost productivity, recruitment and training costs. It is far easier and more cost-effective to retain an effective employee than to try and find a qualified replacement.
- Employee Recognition Helps Meet Corporate Goals: Bersin also commented on another study entitled, “High-Impact Performance Management: Maximizing Performance Coaching,” which was published in late 2011. In organizations where recognition occurs, that study concluded, employee engagement, productivity and customer service were about 14% better than those where recognition does not occur.
- There is a New Generation of Workers on the Horizon: The loyalty-focused baby boomers are swiftly riding off into the sunset and being replaced by a new generation of fickle employees, the Millennials. These workers are looking for jobs that give them a sense of purpose. This could foreshadow a huge turnover problem if Millennial employees are not properly engaged and incentivized. According to How Full is Your Bucket, by Tom Rath and Donald O. Clifton, the number one reason most Americans leave their jobs is that they don’t feel appreciated. Recognition has consistently proven to drive engagement and reduce turnover.
Whether you are looking for safety incentives, sales incentives, attendance programs, or any type of employee motivation program, the employee incentive consultants at Strategic Incentives can help design a performance improvement plan that is just right for your organization.
Q&A About Employee Incentives from Strategic Incentives
Q: Summer is coming. What type of merchandise awards might be best at motivating employees?
A: Strategic Incentives offers a variety of employee incentive program options. Choose from our point catalog, customized catalog, mini plateau catalog, or individual gift books. Items that can help them enjoy the summer or summer vacations with their families are always a great idea. Beach items, sporting gear, or summer fun rewards are always a great way to motivate performance and show appreciation.
Q: Can travel awards get employees moving in the right direction?
A: Absolutely! Individualized family resort packages from Strategic Incentives make it easier than ever to achieve your strategic marketing goals. Offering the high-perceived value of an expensive luxury getaway, our Vacation Perks products move your target employees to take the action you want at a surprisingly affordable cost to you. Vacation Perks are so flexible and cost-effective you can afford to generate a higher level of interest and participation by having a larger number of winners. And our wide selection of popular destinations, featuring deluxe hotels and cruise lines, lets you customize your incentive promotion for optimum results.
Q: We don’t really want to deal with any type of merchandise. What else can you do?
A: Our debit card awards are perfect for your company! Strategic Incentives Debit Card Packages were specifically designed to maximize every dollar employers put into their incentive programs. These solutions come with a branded prepaid debit card that utilizes the Visa, MasterCard and EFT networks. We also provide state-of-the-art technology, which includes easy to use online program administration tools that let employers recognize and then easily reward the employees and business partners that are contributing to the success of their company.
About Strategic Incentives: Strategic Incentives is a leading nationwide provider of employee incentives and workforce solutions. The company provides safety incentives and sales incentives, as well as promotional ideas and loyalty programs. Visit the website at http://www.strategicincentives.com/ to download a complimentary PDF of “35 Ways to Use Incentive Programs.” “Like” the Facebook page to receive regular updates on employee motivation. Call 888-686-8116 for more information on creating a performance improvement plan.