Non-Cash Sales Incentives are Vital to Successful Companies
New research suggests that the best companies (top 20%) are a third more likely to use non-cash incentives, such as travel, merchandise, and gift card awards, in their sales incentive programs. The study, which was unveiled last week, indicates that these awards are critical in getting the best performance out of sales teams. The respondents surveyed were asked to identify their top three choices that are most effective at yielding the strongest sales performance. While financial compensation is still tops, the trend has really changed over the last year. Back in 2012 98% of respondents preferred financial compensation, compared to just 76% this year. The impact of financial compensation is being considered less of a dominant “no-brainer” in sales. The runners up include the non-cash incentive programs, gift cards, travel, merchandise, etc, designed to augment the financial leverage that employers have over their front-line sellers. The highly successful organizations recognize that today’s sales personnel and account managers require a far more complex managerial landscape than their predecessors. They are aware that there is a need to manage on a more holistic level and not just consider meeting quota expectations.
Gift Cards Are Popular Picks for Spring/Summer Gifting
As the Spring and Summer gifting season approaches, business and organization owners should take note: gift cards are set to be the go-to choice for 2024. Whether it's for Mother's Day, weddings, Father's Day, graduations, or Teacher Appreciation Day, gift cards offer a convenient and appreciated solution for recognizing important occasions.
3 Keys to an Effective Employee Safety Program
An employee safety program can be tough to implement and even tougher to get employees actively engaged in. An effective employees safety program can be a sound investment that keeps your workforce safe and mitigates risk of workers compensation cases. Here are three ways you can ensure the implementation of your employees safety program is effective.
Gift Cards Remain A Retail Staple
In the gift card industry we know gift cards are awesome. Gift cards are flexible for recipients, easy for gift givers and ensure that the end recipient gets the gift they ultimately want. Now, the consumer public is showing that they agree with us. A recent survey by the Retail Gift Card Association shows that over two thirds of the U.S. population plans to buy gift cards through the spring and summer gift period. Here are a few other highlights from the RGCA survey.
Employee Collaboration Fosters Employee Engagement
The HR landscape is changing with the face of the American workforce. As baby boomers move into senior leadership roles and begin to retire, and millenials begin to represent a larger portion of today's working world employee needs become drastically different and the way employees learn and process also diversifies. Millenials and baby boomers do things differently. They think differently, they act differently, they are motivated by different things and human resources professionals are tasked with engaging employees at all levels. Employee empowerment is the new key to pleasing everyone and the key to successful employee engagement. Empowering employees to train each other, help each other through on-boarding processes creates a dynamic leadership structure that empowers employees and fosters employee engagement. Younger workers are looking for an environment where their voice can be heard, and more senior members of the workforce don't want to feel like they are "aging out." By combining these two needs and creating and empowered employee leadership structure everyone can teach their strengths and learn their weaknesses with their peers, rather than within a rigid hierarchical power structure. The result is greater harmony and increased employee engagement. Rewarding employees for participating in this new-age peer-to-peer training program helps aid professional development and provides an opportunity to reward employees for giving of themselves for the greater good of the team. Rewarding employee engagement doesn't have to be a trip to Hawaii. It could be a gift card for a luxury item from Crutchfield, or a gift card for dinner out at The Cheesecake Factory, or for the shopaholic a gift card to a popular retailer like The Limited. Gift cards allow engaged employees to chose their ultimate reward as a "thank you" for giving back to the team.
For more information on employee engagement or collaboration through dynamic leadership check out this article from Forbes.
