Incentives for Millennials
Millennials, those who currently are in the 18-33 age range, will make up 75% of the workforce by 2025. This generation posses an entirely different outlook on workplace culture than the generation before them. Technology is the primary Millennial influence, both in and out of the workplace. What are the best incentives for millennials to be motivated? Growing research shows that point system incentive programs have the highest success level, especially with Millennials. These employees want to not only be recognized, but they also want choices in how they are rewarded as well. Points programs are virtually foolproof, easy to understand, appeal to the interests of many different types of participants, tend to have higher participation rates, and are just plain fun! One amazing employee points program incentive model is the Values In Action program at CVS/pharmacy. An online rewards system where colleagues and managers can recognize one another by granting points that are redeemable for merchandise, travel vouchers, gift cards, and even the option to make a charitable donation. While points programs work best for Millennials, they can be customized for any diverse workforce.
For more information on why points programs are so popular check out this article by Quality Incentive Company.
3 Questions to Audit Your Sales Incentive Program
Sales incentive programs can be a great way to boost your sales team's morale and ensure your organization is hitting its revenue goals. Sales incentive programs can also be a waste of resources if they become stagnant and do not accomplish their goals. Sales incentive programs are most effective when they are in a constant state of flux, keeping salespeople guessing and more satisfied with constantly changing incentive options. Here are 3 questions to help you audit your sales incentive program to keep it on track and effective.
3 Loyalty Lessons (with 57 more where that came from!)
The 2014 Loyalty Guide is out and full of stats, insight and industry knowledge. One of the featured chapters this year is 60 "loyalty lessons." This is a retail focused look on how loyalty can affect your business and how your customers purchase your products. A strong loyalty program can boost your customer return rate and raise each consumer's life time value, while a bad loyalty program can be detrimental, even in the best economic climate.
Here are three of our favorites from the chapter but all 60 employee and customer loyalty lessons can be found here.
Getting Employee Buy-In on Health and Wellness
The infographic below looks a little bit like the Game of Life, and it is. It is the life of an employee health and wellness program. In evaluating your staff's needs within an employee wellness program, and what resources you have to piggyback on versus what resources you will have to create, we want to make sure you don't forget about the employees.
3 Easy Steps to Employee Loyalty
In our recovering economy it sometimes seems like there will always be more candidates than jobs. In some industries today that is already not the case. A talent war is looming, a time when companies are poaching each other's human capital and when employee loyalty should be at the top of your HR Strategy agenda. Here are three ways to build, maintain and teach loyalty in your organization.
