Rewards & Recognition (July 2011)
- Is Your Rewards Program Fair?
- Texas Roadhouse CEO to Keynote at Motivation Show.
- MotivAction Launches New Rewards Platform.
- SVM Announces eGift Card.
- Maritz: Cash is Popular, But Not the Best Motivator.
- Engagement Event Returns $2 for Every Dollar Spent.
- The Art (and Science) of Engagement.
- Rewards Distributors Embrace Continuous Improvement.
- A '3-D' Solution to a Common People Problem.
- White Paper Links Social Media and Performance.
- About Selling Communications Inc.
Is Your Rewards Program Fair?
We all know that employee perceptions of reward fairness are strongly related to employee attitudes, behaviors and performance. But it's less clear what impact reward practices have on these perceptions. In other words, do certain types of reward programs or policies more closely align with perceptions of fairness than other programs or policies? To survive (and thrive), organizations need to ensure that reward programs are rooted in principles of fairness in order to motivate and engage employees from different backgrounds and experiences. The challenges of creating a fair reward system become even more pronounced as organizations develop a global presence and attempt to integrate reward strategies across countries with different legislative requirements, traditions and cultures and accepted business and norms. A new study by Hay Group and [email protected] examines how management defines what constitutes fair rewards and the tools reward professionals use to create reward programs, policies and structures that are perceived as fair. Read more at www.haygroup.com/ww/downloads/details.aspx?id=30978
G.J. Hart, President and CEO of Texas Roadhouse, will be The 2011 Motivation Show's Keynote Luncheon speaker beginning at noon, Tuesday, October 4. In his presentation, Standing by His Convictions: How One CEO Put His People First in the Face of Negative Public Opinion, Mr. Hartunapologetically explains why his company hosted a 5-day incentive event in 2009 for 1,100 employees and guests at the Ritz-Carlton in the midst of the "AIG Effect." Hear how he stood up for his simple philosophy that "Happy Employees Make Happy Guests" and reduced employee turnover, garnered numerous awards and retained a loyal guest base that provides nearly two-thirds of his company's revenue. For more information on The Motivation Show, go to www.motivationshow.com
MotivAction recently unveiled "The Big Deal," a new reward platform that enables participants to unlock deals and rewards based on their achievements. Unlike many reward programs that rely solely on the accrual of points, The Big Deal allows participants to unlock time-sensitive deals based on their accomplishments. Participants benefit from immediate access to high value rewards that are meaningful and relevant. In addition to supporting multiple audiences, the rule structure for unlocking deals is dynamic and allows for individual achievement, team goals, time sensitive deals, progressive performance awards, chance based promotions and a host of additional options. For more information, go to www.motivaction.com.
SVM, a leader in gift card solutions for business, is now offering eGift Cards for the B2B market. The company has developed unique order delivery, order servicing, program management and reporting capabilities specifically for B2B customers. SVM is rapidly adding new retailers to its portfolio and anticipates having more than 80 brands by the end of the year. eGift Cards can be delivered almost immediately and can contain personalized messages to the recipients, including employees, customers, reward recipients and prospects. SVM is offering its customers two options for eGift delivery. In the first option, SVM manages the email or mobile delivery, the customer service and the reporting. In the second option, SVM customers purchase eGift Cards from SVM in bulk and then distribute these eGift Cards to the recipients as needed. This allows the customers to manage the eGift Card delivery and servicing for themselves, if desired.
For news on this and other recent SVM initiatives, go to www.svmcards.com
A recent survey conducted by Maritz Research and Maritz Loyalty & Motivation reveals that while cash may be the most desired reward, it's not necessarily the best motivator. Employees who received a non-cash, tangible or experiential reward received more encouragement from their colleagues, family members and friends than those who received cash. Survey participants also supported another long-standing claim: that non-cash rewards are more memorable than cash rewards. These findings are consistent with the "four-drive" model of human behavior, which describes what motivates people to take action. The drives to acquire, bond, create and defend are pivotal in determining human behavior. This concept was recently explored by Mary Beth McEuen, Vice President and Executive Director of the Maritz Institute, in a whitepaper titled, The Game Has Changed: A New Paradigm for Stakeholder Engagement. For full results of the study and details on how the drives to acquire, bond, create and defend are realized in rewards and recognition programs, go to click here
Engagement Event Returns $2 for Every Dollar Spent
The Enterprise Engagement Alliance (EEA) recently announced that research measuring the return on investment (ROI) of an annual meeting of healthcare insurance brokers that stressed training, relationship-building and networking opportunities found the sponsoring company enjoyed a return of almost $2 for every $1 invested in the program. Initial results reported in March revealed that the program had a profound impact on the way brokers thought and felt about the company, its products and its people. Part 1 of the report, The 'ROI in Channel Partner' Conferences – A Case Study, noted that the annual gathering translated into higher sales, performance and engagement among those who attended. Part 2 of the report examines the actual change in sales of Allsante, Inc.* products among program participants, summarizing the ROI the company achieved from the event. EEA analysis of the methodologies and findings reveals that Allsante earned significant ROI from its annual event. "After all variables were accounted for, a highly credible and conservative estimate of 190% ROI was arrived at," says Allan Schweyer, Chairman of the EEA. "In other words, the company enjoyed a return of almost $2 for every $1 it invested in the first six months following the event, and our researchers say it's likely that the returns, if calculated after another six months have passed, will be even greater." Parts 1 and 2 of the study, The 'ROI in Channel Partner' Conferences – A Case Study, can be downloaded at www.enterpriseengagement.org
* The company in this report is referred to as "Allsante, Inc." at the firm's request, due to competitive reasons.
The June/July issue of Engagement Strategies Magazine is out! Here's a look at what you'll find inside:
The Art (and Science) of Engagement
Author and engagement guru Richard Axelrod talks about the collaborative effort that's essential in creating an enduring engagement culture. To make sure you get your copy of Engagement Strategies Magazine, go to www.enterpriseengagement.org/account/login/ and update your subscription today!
Amazon may be gone, but its legacy is still around in the form of higher expectations and increased automation. Here's how the industry is filling the gap. Read more in the current issue of Engagement Strategies Magazine.
Here's how Mountain States Health Alliance transformed itself into an organization that not only provides quality patient care, but is also considered a great place to work.
White Paper Links Social Media and Performance
A new White Paper, How Social Media is Changing Corporate Performance, discusses how lessons learned from Social Media are helping corporate employee-engagement experts capitalize on the momentum in self-motivated, peer-driven participation. Corporate recognition, rewards and incentive programs for employees are actually the unsung pioneers of the kind of 'social points' activity like we see in Social Media games like Farmville and others. By leveraging the power of online systems, corporations can provide a familiar social environment similar to those in which people have already chosen to engage during their own time. You can bring the power of Social Behaviors to your employees by offering intrinsic/extrinsic motivation rewards and recognition programs. Peer-to-Peer awards let people recognize each other. Team-based activities allow for relationship-building and trust. Wellness programs show that you care about employees' health challenges and that you want to help through education and online tools. Open 'suggestion programs' accelerate innovation by creating a meritocracy. To view the full report, go to www.dittmanincentives.com
Selling Communications, Inc. is a fully integrated, target marketing, media and technology agency that improves results for clients by focusing on the people who matter most. We can help your business grow and save you money by targeting key prospects, getting their permission and strategically integrating your marketing and sales communications with the specific audiences most likely to affect your business performance.
Take advantage of these SCI services to improve your business development:
- Engagement Marketing Agency Solutions
- Target media
- Integrated Communications Technology
For more information on Selling Communications, its products and services, contact Jim Kilmetis at 914-591-7600, ext. 229 or send an e-mail to .
Tapping new customers, and keeping those you already have, costs less than you'd imagine...
Subscribe to Engagement Strategies Magazine
Update Your Subscriptions