Use incentives to increase retention. Whether it’s your sales force, partners, research panel participants, or employees, retention is an important part of your company’s strategy. The Bureau of Labor Statistics reported that in 2018, 15.5% of workers chose to quit their jobs, with Millennial workers making up half of those who quit. There are lots of reasons for employees quitting, but with a low unemployment rate, it is a workers job market, and companies have to get competitive in both hiring and retention. Incentive programs are a proven method for retention and acquisition.  An incentive program shows your people that you value them and increases their engagement and motivation. According to a study released by Bersin & Associates, there’s a 14% higher rate productivity in companies with incentive programs. Additionally, companies with engaged employees have higher rates of retention.    It is worth comparing incentive program technology and management software programs before setting up your new incentive program. To ensure that you’re getting what you need for your program, there are several key features you should look for:   To increase the effectiveness of your incentive program, you should have an extensive selection of rewards offerings available to your participants. […]

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