The widely held belief that cash incentive awards are always the most effective employee motivator has been questioned in a new research review conducted by the Incentive Research Foundation (IRF) and the Incentive Federation. Examining a wide variety of studies in various industries, the audit found that non-cash awards can actually capture an employee's imagination better than cash – thereby motivating them to increase performance. For business executives focused on the bottom line this study proves extremely valuable and forces the question, "Does your company have the right award mix in place?" o read the full report, go to http://theirf.org/.6079225.html
i-Myth, Inc., a Sacramento CA-based company, recently announced it has launched an online Incentive Management Community. i-Myth Managing Director Scott Kircher notes that while industry professionals are well aware of the bottom line value that incentive programs bring to an organization, such programs are also often hard to justify to top executives. i-Myth provides an opportunity for corporate executives, managers and others involved with creating and implementing incentive management programs to come together to create a true business case with measurable ROI. The i-Myth portal includes educational content, validation testing tools, implementation applications, a best practices collaboration forum and a database of qualified incentive management experts, as well as qualified product and service providers. For more info, go to www.i-myth.net
Four companies, each with their own distinct business challenges, creatively used incentive campaigns to achieve successful results, winning the Incentive Marketing Association's (IMA) 2011 Circle of Excellence Awards, to be presented Oct. 5, 2011 at The Motivation Show. This year's award winners are Dex Imaging of Tampa, FL; Travel Tags, Inc. of Inver Grove Heights, MN; AstraZeneca Australia, North Hyde, New South Wales; and Europcar – Tattersall Rent a Car in Santiago, Chile. Past Circle of Excellence Award winners have included companies like GE Financial Services, GlaxoSmithKline, Kohler, Kraft Foods, Purina, Microsoft and Sprint. The growing archive of Circle of Excellence Award case studies illustrates the power of incentives, setting even higher standards for the incentive marketplace. For more information on this year's winners, click here.
A new EEA white paper, 10 Tips to Build Brand Values Into Recognition Programs, notes that a large part of designing an employee incentive, rewards and recognition program is focused on productivity, compensation and profitability. An equal part of the strategy, however, is centered in how these initiatives tie back to the core messages that are integral to business values and brand promise. This article highlights 10 popular brand values, how they're supported through incentive, rewards and recognition programs, and some of the communications ideas that can help build more creative, effective, and memorable programs. For a copy of the full report, go to www.enterpriseengagement.org
The September/October issue of Engagement Strategies Magazine is in the mail! Here's a look at what you'll find inside:
Maritz's Michelle Pokorny explains how 'gamification' can make recognition programs more engaging. To make sure you get your copy of Engagement Strategies Magazine, go to www.enterpriseengagement.org/account/login/ and update your subscription today!
In this exclusive excerpt from their forthcoming book of the same name, Curt Coffman and Kathleen Sorensen discuss how a rich corporate culture provides a fertile environment for engagement and growth.
How do you engage customers who've 'seen it all' when it comes to promotions? Atrium Enterprises found a unique way to get their attention...
The Enterprise Engagement Alliance (EEA) recently announced that research measuring the return on investment (ROI) of an annual meeting of healthcare insurance brokers that stressed training, relationship-building and networking opportunities found the sponsoring company enjoyed a return of almost $2 for every $1 invested in the program. Initial results reported in March revealed that the program had a profound impact on the way brokers thought and felt about the company, its products and its people. Part 1 of the report, The 'ROI in Channel Partner' Conferences – A Case Study, noted that the annual gathering translated into higher sales, performance and engagement among those who attended. Part 2 of the report examines the actual change in sales of Allsante, Inc.* products among program participants, summarizing the ROI the company achieved from the event. EEA analysis of the methodologies and findings reveals that Allsante earned significant ROI from its annual event. "After all variables were accounted for, a highly credible and conservative estimate of 190% ROI was arrived at," says Allan Schweyer, Chairman of the EEA. "In other words, the company enjoyed a return of almost $2 for every $1 it invested in the first six months following the event, and our researchers say it's likely that the returns, if calculated after another six months have passed, will be even greater." Parts 1 and 2 of the study, The 'ROI in Channel Partner' Conferences – A Case Study, can be downloaded at www.enterpriseengagement.org
* The company in this report is referred to as "Allsante, Inc." at the firm's request, due to competitive reasons.
A new White Paper, How Social Media is Changing Corporate Performance, discusses how lessons learned from Social Media are helping corporate employee-engagement experts capitalize on the momentum in self-motivated, peer-driven participation. Corporate recognition, rewards and incentive programs for employees are actually the unsung pioneers of the kind of 'social points' activity like we see in Social Media games like Farmville and others. By leveraging the power of online systems, corporations can provide a familiar social environment similar to those in which people have already chosen to engage during their own time. You can bring the power of Social Behaviors to your employees by offering intrinsic/extrinsic motivation rewards and recognition programs. Peer-to-Peer awards let people recognize each other. Team-based activities allow for relationship-building and trust. Wellness programs show that you care about employees' health challenges and that you want to help through education and online tools. Open 'suggestion programs' accelerate innovation by creating a meritocracy. To view the full report, go to www.dittmanincentives.com
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