“The manner of giving is worth more than the gift.” — Pierre Corneille, Famous French playwright
Rewards And Recognition: Rewarding Employees Opportunity
A Fortune 100 company was seeking incentives for their top 600 performers using rewards and recognition. These employees were slated to travel to a major conference later in the year, and this seemed like the perfect opportunity to reward them for their hard work and persistence.
The company wanted something unique for employee rewards, however. Traditionally, traveling salespeople were rewarded with “room gifts”– token items of appreciation from the organization, left in the attendees’ rooms at a conference or retreat. While these were a thoughtful touch, the manager in charge of securing the employee incentives wanted something more. He wanted these performers to have an experience that would be meaningful and memorable.
(Merchandise would still be an important component, though. There needed to be some item that the attendees could take home with them—and it needed to be an item that would impress the company’s elite performers.)
The Event Gifting Experience
This company procured the services of Incentive Concepts to deliver an Event Gifting experience around major luxury brands. Event Gifting by Incentive Concepts rewards and recognizes employees by allowing them a chance to sample and customize their rewards for an effective recognition. Organizations across the country use these event gifting experiences to elevate the incentive experience, and thus the value of the gift as a whole.
When attendees traveled to Chicago, they were able to take part in the Bose Experience. The Bose Experience is an interactive audio experience that allows attendees to sample and select the gift that will let them listen to their music the way they want to hear it.
The next year, attendees traveling to South Beach were able to participate in the Watch Experience. The Watch Experience allows attendees to savor the most current fashion styles for both men and women, all from a premier watchmaker.
The Sales Accounts Executive in charge of procuring these incentives was pleased with the overall level of service delivered by Incentive Concepts at all stages of these Event Gifting experiences. And attendees liked the program so much, Incentive Concepts has been contracted to run an Event Gifting experience for a third time next year for more positive recognitions.
86% – Number of American companies that have a rewards/recognition program in place. [Source: World at Work study: http://www.worldatwork.org/waw/adimLink?id=51194]
$100 Billion – Amount that U.S. organizations spend on incentives annually. [Source: Incentive Research Foundation, http://theirf.org/research/its-in-the-cards-an-in-depth-look-at-prepaid-cards-in-incentive-rewards-recognition-programs/155/ ]
62% – Percentage of employees who prefer a tangible reward when choosing incentives (Source: IMA/IRF study)
42% – Percentage of employees that consider reward and recognition opportunities when seeking employment [Source: Maritz Research Market Study, http://www.maritzmotivation.com/Employee-Recognition/~/media/Files/MaritzDotCom/Microsite/Reward-Recognition/RewardsRecogMarketStudy.pdf ]
$300B – Estimated amount of money lost in the U.S. economy due to disengaged workers [Source: Source: Gallup 2006 ‐ http://gmj.gallup.com/content/24880/Gallup‐Study‐Engaged‐Employees‐Inspire‐Company.aspx ]