Creating an employee incentive program offers an excellent way of boosting the overall productivity and performance of employees. But setting up one can be daunting as may have been anticipated. It used to be that management incentivized their employees with monetary rewards. However, over the years, there has been an increase in companies offering non-monetary rewards such as housewares with logo. If you are still not sure of how non-monetary incentives like imprinted housewares can do to motivate employees, consider these statistics from Transformativa:
- Companies with well-planned employee engagement program reported a 64% greater increase in the level; of employee engagement than those without one.
- In 2016, almost eighty percent (78.7%) of incentive programs met the proper expectations
- A study by Incentive Marketing Association (IMA) found that 65% of employees preferred non-cash incentives
- According to the most recent figures, roughly $11 billion is lost due to employee turnover.
If you do not have an employee incentive program yet in your organization, here are some steps to get you started:
SET REALISTIC GOALS
Most managers make the mistake of setting aggressive goals when selling imprinted kitchen tools. However, they set the bar too high which could prove discouraging to employees. To prevent workers from getting discouraged when selling kitchen tools with logo, here are some tips for goal-setting:
Simple and specific. Instead of broad goal like “increase sales,” make it more specific like “increase sales by 10 percent between June and December.”
Realistic. It is okay to be ambitious but do not go overboard. Compare your goals to past history. If your company has never come close to its goal, be sure to support why this time it will be different.
Measurable. If you cannot measure the incentive in specific terms, it can be difficult to prove to management that the program was successful.
Well-timed. Incentive programs should be implemented when employees will most benefit. Do adjust your objectives to suit changes in business cycle.
KNOW YOUR AUDIENCE
As much as possible , you should know who will be entitled to receive picture frames with logo. Get to know your participants as members of a department and as an individual. On a personal level, know their hobbies and interests. You should also know the number of potential recipients of imprinted picture frames. Keep in mind that today’s employees come from different age groups. For this reason, you should consider different incentive options.
MAP A STRATEGY
Once you have identified your target market, you can start designing your incentive program. You can start designing your incentive program. You can use the following strategies when crafting your program:
Individual and Group Motivation. This is a series of overlapping incentive plans designed for motivating individuals and encouraging teamwork at the same time. For instance, you can offer imprinted tool kits as performance objectives at different levels. By giving tool kits with logo as incentive for productivity, it could entice teamwork from the rest of the team.
Motivation Based on 80/20 Rule. While you must take care of your top 80 percent, ignoring the remaining 20 percent is not healthy. When your top performers are not hitting their mark, your bottom 20 percent will make the difference. While the top performers may become entitled to receive flashlights with logo, the bottom employees will not feel valued and less motivated. But giving the bottom 20 percent imprinted flashlights, they could be kept from being recruited by another company.
Motivate throughout the program. Consider running spurt incentive programs under the longer umbrella of a longer performance initiative program. This strategy will help you focus on imprinted fly swatters. For problem agents, you can offer fly swatters with logo as sales incentive.
DEVELOP A BUDGET
Majority of your budget should be spent on corporate awards, about 70 to 75 percent. Incentives like imprinted napkins can serve as a visible reminder to the recipient and co-workers of how valuable they are to your company. This is one of the most important reasons you should carefully consider napkins with logo as an incentive.
FOCUS ON PROMOTION AND PRESENTATION
Without promotions, your program of giving buckets with logo may never get off the ground. Ensure that you prioritize communications before the launch as well as throughout the duration of the incentive program. Involve your in-house graphics department when promoting the program of giving imprinted buckets.
EVALUATE THE RESULTS
Analysis of the performance incentive program from both the participants’ and administrator’s perspectives is important. You can ask the administrator if they encountered any problem with giving imprinted car flags. Be sure that you explore the intangible aspects of giving car flags with logo. You should also get their input regarding the objectives of the program and their ideas for future awards.
ALWAYS FOLLOW THROUGH WITH THE REWARD STRUCTURE
Some businesses owners may offer lanterns with logo with little intention of honoring the rewards. This is both unethical and potentially illegal as the program may be part of a contract between the employer and the employee. However, some businesses may opt to procure imprinted lanterns until the end of the sales program.Using promotional products like imprinted poppers can be an effective tool for employee incentive program. When they receive poppers with logo for excellent performance, they will feel valued by the company.