When starting an incentive program and considering your incentive program strategy, it is important to set the right key performance indicators (KPIs) so that you can effectively measure its success and make any adjustments to your incentive program management practices in the event you aren’t hitting them. Different types of incentive programs will have different KPIs. If you plan out your KPIs prior to the start of your incentive program, it will be easier to measure effectiveness and see areas for improvement. Some common KPIs can include: 1. Incentive Program Enrollment How many members of your target participants are enrolled in your incentive program? Program enrollment is an incentive program KPI worth tracking because, if you don’t have the level of participation your company projected, it may be a sign that your incentive program management strategy needs to be reexamined. Do you have the right rewards that will appeal to your participants? Are you using a delivery method or redemption site that is difficult for them to use? Would adding some excitement through sweepstakes or instant-win games improve things? 2. Sales Increases If you’re running a channel partner incentive program or other types of sales incentive programs, you will want […]
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How Wellness Points Systems Boost Employee Engagement and Productivity
Are you grappling with declining employee engagement or struggling with productivity issues within your organization? Have you considered the role of wellness incentives, specifically a points-based system, in turning these challenges around? Wellness incentives are no longer just a nice-to-have; they’re a strategic imperative. Designed correctly, a points-based system can be a potent tool in your arsenal. But why should this matter to incentive program managers? Imagine a workplace where employees are excited to participate in wellness activities, not because they have to, but because they want to. Points-based wellness incentives can achieve exactly this. They offer rewards that employees genuinely value, making them more likely to engage in health and wellness programs. Do you know what happens when employees are engaged? They are happier, more satisfied, and yes, more productive. Now, let’s talk numbers. How do these engaged employees affect your bottom line? Highly engaged teams show 21% greater profitability compared to those who aren’t engaged, according to Gallup. Points systems not only motivate employees to participate but also to perform better. This is a win-win scenario, where the individual benefits from a healthier lifestyle, and the organization enjoys increased productivity. Concerned about the complexity of implementing a new […]
