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Why companies should have an incentive program?

More and more companies have different tools to reward your employees, customer loyalty and boost sales. Incentive programs are becoming more popular and are increasingly powerful, making brands establish a new point of relationship with their customers, whether internal or external.They are the beneficiaries of programs in which their actions become the key to access a range of gifts and compensation incentives that reward work well done and encourage them to achieve business goals.

But why they are so relevant the incentive programs for companies and what makes them increasingly valuable for brands?

According to a recent study by Sodexo, 48.6% of companies already have some incentive program. Companies value and thereby enhance client loyalty actions customers, increase sales or ensure the achievement of objectives. The effect of incentive programs have is quite broad and helps connect much better with users, making them several arguments that can convince trademarks of their value and potential.

Why companies should have an incentive programUsers are much more committed

How can you measure the commitment and loyalty of a group? The truth is that the concept seems so ethereal, so to speak, which is sometimes forgotten when we talk about strategy and how to position the brand to achieve the objectives waiting and want. And yet, it is brutally important. Employees need to feel happy going to work every day and have to feel happy not only at work but also in their relationship with the brand. It’s not just that nobody wants to go to work at a place that does not feel well and which does not conform, but rather that everything ends up having an effect on the brand of a much more comprehensive way.

Workers of the company are the first in which we usually think when the importance of establishing strong relationships between a brand and those with which it relates is analyzed, but the truth is that they are not the only ones the company has to retain. Firms also need to strive to create mechanisms and use tools that help retain customers and the distribution channel, as both are key to the profitability of the company. And therefore, it is also very important that they feel equally satisfied with their relationship with the company.

Obviously, having good working conditions is the best way to have happy employees as well as create a good relationship dynamics it is for that the same happens with customers or distributors, but these issues are given and for granted. What can you do when you have already made the base to ensure that all those that relate to the company are content and happy in it? A good strategy for internal promotion, have services for employees or distributors and offer incentive programs are some of the ways to differentiate themselves from the competition and give more to the employees and partners . Incentive programs have a direct effect on users and their relationship with the company. They are not tools to make more money or to add monetary premiums at the end of the year, but essential elements for added value, making more work efforts. The worker, customer or distributor established an emotional bond with the company where you work or with whom it collaborates and those emotions will directly make you feel happier.

The only question that can generate debate would be therefore to decide what or not to include in the incentive program. What should be the gifts that get the user? A study of the most motivating prizes incentive programs, just introduced Sodexo, has just demonstrated that users value tangible products but also prizes that allow them to generate and live experiences.

When asked what are considered to be the most motivating awards, 98% of users opted for the technology, especially in the case of men. The tablets are decidedly more valued the gift that both men and women and printers the least estimate both the former and others. After technology, the gift is more valued as an incentive tourism (97% prefer it), being a short break a prize that all they value. Gifts leisure (94%), the sports (87%), home (81%) or single-brand cards (80%) are among the other gifts that complete the list.

Companies must choose carefully what is going to give and what they will offer to connect with their users and should study what the gifts that best meet the interests of the dominant demographics in collective are those who its incentive program is directed.

The brand image is benefited

The relationship between some employees, distributors and partners happy and brand an emotional issue for the first that will make your relationship with the second is closer will not end in just. In fact, the impact that a network of collaborators has happy has a much broader scope and this goes directly to what matters most to businesses. The value of brands with happy workers typically higher.

A recent study by Interbrand noted that buyers tend to favor brands that treat their employees. The trend is further maintained both B2C and B2C market: little matter what area it operates, the happiness of workers encourage consumers to connect with that brand. According to the findings of the study, 84% of consumers consider social commitments brands with their workers before making purchasing decisions, and 82% use it as a benchmark before deciding whether or not to recommend a product or service his friends.

In fact, if the lists of brands that have managed to establish itself as the most valuable in the world look you might spot an unquestionable proof of this reality. Starbucks or Google, to name just two examples, are companies that are often among the most valuable brands and often enjoy public favor. The two companies are also programs that benefit employees and that generate profits and gains outside the salary they charge end of the month. Also tend to have policies that make the relationship with its other partners, from distributors to companies that provide services to them, are especially smooth and positive.

Part of the success that these companies have with consumers is they have not done their homework in communication and have managed to convey what they are doing but rather the fact that their own workers have become brand evangelists. They are ambassadors to convey, often without being fully aware of it, the benefits of the company they work for their friends, contacts and, ultimately, the world. Not surprisingly, for example, to discover that companies want their employees speak well of them in social networks: only those who do it naturally, because they comes from within really launch compelling messages that connect with the consumer. This only happens when the worker is happy.

Staff turnover is reduced and secured talent

When employees are happy they are much more loyal to the company where they work and this does not impact only on how they will get their messages to consumers but also how staff ratios are maintained. In a market that is seeing increasingly shaken by career changes (the millennials believe that will change jobs and companies at least today in two years, as pointed out a recent study) and in which fidelity to the company is far from what it was a few decades ago (also impact of millennials: no one is really true to yourself and what you are interested), help keep workers connected with the brand can be one of the few ways to retain talent. Few things manage to create that engagement and one of the few that does is create a different working environment, one in which workers feel pampered and rewarded.

Doing so not only can keep the template itself, but also captures new talent. Given that companies are now facing trouble grasping certain specific profiles and be done with some skilled workers is very complicated, have a tool that rewards the employee can work as a powerful weapon in the battle to recruit the best.

Accounts end up benefiting the company

And what is the indirect result that has the talent and keeps the competition steal him, to see how consumers prefer to own brand and have happy employees? The result is much less emotional than all these points and much closer to the operational side of the company. A company that is taking care of all these points usually end up having much more healthy accounts.

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