Inspired Incentives

The Debate Is Over: Incentive Programs Bring Tangible Value

Posted by Devin Ferreira

Mon, May 07, 2018 @ 10:30 AM

“There is little debate as to whether rewards work to promote productivity.” - Incentive Research Foundation.

The Incentive Research Foundation (IRF), the leading research apparatus of the incentive industry, recently released the results of an exciting new study that focused on the total value offered by incentive award programs.

According to the study—titled “Award Program Value & Evidence” and serving as part one of a two-part series—organizations that offered award programs saw a significant gain (22% on average) in performance when compared with those companies that didn’t offer them.

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Topics: incentive programs

2 Major Alternative Funding Methods for Your Incentive Programs.

Posted by Devin Ferreira

Fri, Apr 13, 2018 @ 03:08 PM

Do alternative funding models exist for performance incentive programs?

According to the Incentive Research Foundation (IRF), the average per-person cost of an incentive program is just shy of $4,000.

What’s more, 60% of respondents to the recent IRF study also claimed that costs are rising faster than budgets, leading the IRF to reasonably conclude that cost pressure is becoming one of the top ongoing constraints for incentive programs.

With cost continuing to be a concern for program planners, it’s fair to wonder if there are any best practices out there that might mitigate these concerns by requiring a smaller slice of a company’s budgetary pie.

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Topics: incentive programs, funding

Why a DIY Reward or Incentive System Can Be Your Happy Medium

Posted by Devin Ferreira

Tue, Jan 30, 2018 @ 09:29 AM

Is it just me, or does it seem like we’ve entered the golden age of Do-It-Yourself (DIY) solutions?

When we face a problem or challenge, or have to deal with something even vaguely unfamiliar, what’s the first step that we usually take? Do we call up an expert and ask them for help, shelling out an uncertain amount of money in the process?

No, chances are if you’re like me, and your garbage disposal breaks, you’ll immediately turn to Google to find out the source of the issue, followed by YouTube to see how to fix it. If, and only if, this proves to be more time or effort than you’re willing to devote to the problem, will you seek out a local plumber (with satisfactory reviews on Yelp).

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Topics: incentive programs, DIY

Running an International Program: The “Know Your Audience” Checklist

Posted by Chris Largent

Mon, Jan 22, 2018 @ 01:05 PM

I’m sure you’ve all heard of the blunders of corporations who didn’t do enough research while branching out into international markets.

One of the most common blunders (which actually turns out to be an urban legend) is Chevy’s Nova sales flopping in Latin America.

The tale goes that since “no va” in Spanish means “doesn’t go”, the car company was unable to achieve its projected sales in the market.

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Topics: incentive programs, international

Ensure Incentive Success With...

Posted by Devin Ferreira

Tue, Dec 26, 2017 @ 10:01 AM

In our previous blog, we offered some advice on how to choose the right incentive program for your organization. This included determining your goals and your audience.

But if you are thinking about implementing an incentive program, whatever you decide on—whether it’s a sales incentive program for your highest performers, a customer incentive program that targets your Middle 60% of customers, or something else—one common element that remains essential no matter the program type is... drumroll please... 

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Topics: incentive programs, marketing