Selecting the right reward for your target audience is a key factor in keeping them motivated and engaged. Offering something that appeals to the widest range of tastes has always been a challenge and I know all too well how difficult it can be to offer that choice using a cost effective solution that works across the globe. The rewards offered in an incentive or reward and recognition programme can drive engagement and maintain buy-in to drive the desired behaviours such as increasing sales, driving customer service levels up or build knowledge of and drive the company values in employees day to day work lives. Getting the right mix of desirable rewards and a cost effective solution is essential.
Staff want choice and enticing products to drive their performance but 8 times out of 10 they choose vouchers or reward cards when they come to redeem their rewards.
Through previous experience I’ve identified a typical pattern of rewards, an 80:20 rule – whilst 80% of people like the ‘eye candy’ of top of the range TVs and MP3 players, for example, only 20% of people actually redeem products with 80% opting for reward cards or vouchers.
This is of course great news for international organisations as cards and vouchers can be offered much more cost efficiently but you must get the mix of rewards and vouchers or cards right.
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