An incentive program is an efficient tool for those companies that seek to grow their sales and differentiate themselves from their competitors, since they improve the productivity and motivation of employees when achieving joint objectives. Learn about its benefits and how it works.
Did you know that companies that have an incentive plan increase their sales by 50% and obtain benefits of 27% more than the rest of the companies in the sector? According to a study of labor trends by the multinational Sodexo .
This is accompanied by other advantages such as dynamizing the commercial area, distribution channels and the sales force, to retain employees with strategies and thus, strategically reward compliance with the proposed results. For example, a cash bonus or a catalog of prizes that reward the effort of an employee who generated value for the company.
How does an incentive program work?
“Our starting point is to understand that motivation starts from the aspiration and being of each collaborator. For this reason, we start with the collection of information on each participant, for the construction of the model that best suits them, as well as the analysis of the sector and the company . With 360° knowledge of the person and the company, we achieve that the expected extra mile results in the employee choosing a reward to their liking or need”, says Manuel del Corral, Manager of the Chain Marketing Process, a company that He has been working for more than 18 years building incentive models to support businesses that want to inspire their teams.
Other key aspects of an incentive plan are:
Define objectives
Set yourself quarterly, semi-annual and annual goals linked to the priority that the company has .
Identify the interests of your employees
Be clear about what motivates your collaborators : free time, rewards or money. Based on this information, adapt what type of incentive you are going to give your team.
Measurement
Make control boards with the business indicators and the results of the proposed objectives . With this point, you will be able to follow up on priorities and detect challenges on time.
Another strength of incentive plans is prioritizing the well-being of employees and improving their job performance. At Cadena we present you with an offer that integrates analytics, business intelligence and automation of processes framed in interaction. We currently have more than 15,000 participants and approximately 1,018 physical and digital references with more than 70 national providers.
Incentive program: success stories of global companies
Netflix: time flexibility
This is a company that is committed to rewarding and increasing the motivation of its work teams, giving them the possibility of distributing working hours. Its main objective is for employees to give results regardless of how they manage their vacations, free time or work.
Mattel: Paid Time Off
For this company , it is important that its employees share time with their families. For them, employees have 16 free and paid hours a year as a labor benefit to participate in school events or family activities.
Facebook: financial bonus
For this company , it is important that its employees share time with their families. For them, employees have 16 free and paid hours a year as a labor benefit to participate in school events or family activities.
“Our purpose is to continue supporting organizations to transform their marketing processes, we are experts so that through technology, we find an effective way to reach consumers, based on the most important asset: human capital,” adds Manuel Del Corral, Manager of the Chain Marketing Process.
