Results are in of a new study...
Results are in of a new study...
Studies have found that corporate reward programs that produce the best results are ones that are quota based. These are programs that reward employees for meeting or even exceeding production goals. When implementing a quota based reward system make sure the goal is achievable but challenging.
Another issue that should be considered when establishing a corporate reward program is the duration of the period. Will it be a short lived affair? Is it going to be a competition that runs for long periods of time? A recent report from the Incentive Foundation showed that programs that ran for short spans of time had poorer results then reward programs that went on for as long as a year.
A side benefit to having a well executed corporate reward program is the attraction it has for new applications. Happy employees are walking talking advertisements. When word gets around that a company has competitive pay, good health insurance, and a top notch corporate reward program the applications will start flooding in.
The Incentive Federation does caution that it is important that a company not get so wrapped up in their rewards program that they loose track of day to day goals and company organization. The value of a strong corporate rewards program can not be undervalued. A recent study found that by implementing a strong rewards program one company was able to improve its productivity and customer satisfaction by forty-four percent.
As the head of a corporation you understand the value of a corporate rewards program. But you are to busy with the day to day details of running a company to be able to set up and establish a good rewards program. If that is the case it might be in your best interest to hire a company who specializes in establishing corporate reward programs.
Results are in of a new study - To learn more about this author, visit Sheryl Strasser's Website.
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The most successful companies are the ones with a supportive customer service team, strong team skills, and a fun inviting work atmosphere. Corporate reward programs are programs designed to help motivate company employees into putting one hundred percent of their effort and energy into their job. Corporate reward programs can be used to reward employee loyalty, an excellent sale record, stellar customer service skills, higher response rates, and years of service. The goals of corporate reward programs are to build morale, establish employee trust/loyalty, develop teamwork, improve customer service, and improve attendance.
Studies have found that corporate reward programs that produce the best results are ones that are quota based. These are programs that reward employees for meeting or even exceeding production goals. When implementing a quota based reward system make sure the goal is achievable but challenging.
Another issue that should be considered when establishing a corporate reward program is the duration of the period. Will it be a short lived affair? Is it going to be a competition that runs for long periods of time? A recent report from the Incentive Foundation showed that programs that ran for short spans of time had poorer results then reward programs that went on for as long as a year.
A side benefit to having a well executed corporate reward program is the attraction it has for new applications. Happy employees are walking talking advertisements. When word gets around that a company has competitive pay, good health insurance, and a top notch corporate reward program the applications will start flooding in.
The Incentive Federation does caution that it is important that a company not get so wrapped up in their rewards program that they loose track of day to day goals and company organization. The value of a strong corporate rewards program can not be undervalued. A recent study found that by implementing a strong rewards program one company was able to improve its productivity and customer satisfaction by forty-four percent.
As the head of a corporation you understand the value of a corporate rewards program. But you are to busy with the day to day details of running a company to be able to set up and establish a good rewards program. If that is the case it might be in your best interest to hire a company who specializes in establishing corporate reward programs.
Results are in of a new study - To learn more about this author, visit Sheryl Strasser's Website.
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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