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    Posted January 9, 2014 by

    Running Your Incentive Program

    Many companies in America know that if their performance is slipping, they should turn to an incentive reward program to help boost their productivity and success. Incentive reward programs are designed to encourage each individual employee into higher productivity by offering rewards to reinforce positive behaviors or accomplishing specific objectives. This type of program has proven itself to be wildly successful time and time again by improving performance per employee and for companies overall. Quality incentive programs are a crucial part of a company’s plan to attract and retain top talent in their industry. Having one of these programs in place is especially important in today’s economic climate, where talent that’s motivated to succeed for you is more important than it’s been in decades.
    When you’re planning how to design and implement your company’s incentive reward program, there are 3 main areas you should focus your attention – structure, tracking and recognition.
    1) Structure is perhaps the most important area of a program that will contribute either to the successes or failures of your rewards program. When planning your program, you need to decide on three main things:
    What your goals are
    What your employees’ goals are
    Your timeframe.
    A successful program will include ways for all employees to benefit from participation. If you want everyone to share in the responsibility of making the program a success, you need to include everyone in it; that’s just basic logic. The next important part of your program’s structure is deciding on its time frame. You can choose either a temporary program, short-term program, or you can create a lasting, more permanent program. Short-term programs are designed to provide quick boosts in productivity during certain times of year or for product launches. Long-term programs are put in place when a company’s management team wants to ingrain a certain set of behaviors and objectives in their employees. Long-term programs generally offer more bang for your buck, as they provide longer lasting positive behavioral changes. The last part of designing your program’s structure is to decide on what your participants’ rewards will be. You can choose merchandise, travel, ticketed events or gift and debit cards. You could also go with our online rewards catalog system which gives them the ability to choose the reward they want.
    2) The next thing to consider when building a successful incentive program is its tracking. Through the duration of your program you want to be able to track and report your employees’ progress so that both you and they know where they stand in relation to your goals. Keep your tracking consistent and simple in order to engage everyone with the program; it makes your life easier as well. If you complicate your tracking and objectives, you risk demotivating your employees.
    3) Lastly, make sure you consider your program’s method and consistency of recognition. When your employees perform well and achieve their objectives, handing them their rewards or their points behind closed doors just won’t cut it. If possible, make a scene or a spectacle out of handing out their rewards. Show excitement and gratitude for their accomplishments and you’ll kick their motivation into overdrive. You also want to be consistent about recognition. Don’t just do it whenever it happens to cross your mind; be almost about it. Spontaneity is also good, so don’t be afraid to step/think outside the box sometimes. This will let employees know that you’re serious about the program and its benefits.
    There are lots of other issues and details you have to consider when you decide on starting an incentive rewards program in your workplace. It can be tough. We’ve been motivating employees and providing ROI for business owners and managers for decades and we’re very good at what we do. Our online incentive platform has won awards for its vast range of capabilities and the results that it provides for all of our clients. Call 1-800-844-5000 to schedule a test drive of our system today.
    - See more at: http://www.loyaltyworks.com/incentiveindustrynews/incentive-programs/running-incentive-program
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