I came across an article last week titled 10 Things That Your Employee Incentive Program Says About You by Jennifer Vecchi on TLNT.com. I’d like to share some of Vecchi’s points with you along with how you can make sure your employee incentive program is a good reflection of your managing skills.
You don’t care
Vecchi puts it this way, “If you have no incentives program, or one that is out-of-date or poorly managed this is the image you are sending.” Setting up an employee incentive program is a step by step process that, when done right, takes strategic planning and time. I am amazed at how many incentive programs are set up and then not maintained: points are not given for goals that were met, awards are added months after they were earned or not at all. Ensuring you understand how employees earn rewards and giving credit when it is do is essential to show you do care.
You are out of touch
There are four different generations currently employed in the United States workforce and more likely than not, you have a fairly diverse set of workers. As such, there really is no one size fits all reward. TheIncentive Research Foundation found in a recent survey that incentive program administrators are using a wide variety of rewards. You can make sure your employee incentive program reflects well on you by partnering with a provider that can source different types of rewards for you. If you look at your rewards catalog and find items that belong to the 1990s, it is definitely time to freshen up your incentive program.
You are not paying attention
When was the last time you looked at logins, orders and points awarded for your incentive program? If it has been more than a year, then you may be surprised by a quick check up. When you consistently keep tabs on an employee incentive program, you can do things to keep participation and interest where it should be. When evaluating the incentive program reporting regularly you can see drop offs in participation and come up with solutions to increase interest.
You treat employees fairly
If you can explain your incentive program to a friend within two sentences and twenty seconds, it should be easy enough for people to understand and make it relevant to participants. Vecchi explains, “If it is confusing and people claim they qualify for a reward when they do not, then something’s wrong. People will start to feel as if they are not being appreciated and they are not being treated fairly." This perception can ruin an incentive program and possibly even your reputation as a manager.
You are focused on the wrong things
Finding what your employee incentive program should reward participants for really depends on what your business could do better and have the greatest impact. If you are thinking about starting an award program because they are popular among your constituents and it sounds like a good idea, you are going about incentives incorrectly. If increasing customer satisfaction and retention could have the most impact on your organization, then most of your incentive program budget should be allotted to rewarding employees who reach customer service goals and demonstrate excellent customer service.
I hope these five points help you to think about what your employee incentive program says about you as a manager. As the New Year approaches and budgets are getting settled, there is no time better than the present to take a good look at your incentive program and make sure it is saying positive things about your management skills.