When starting an incentive or loyalty program, setting the right key performance indicators (KPIs) is a must. KPIs let you effectively measure your program’s success. If you’re not hitting these goals, adjusting your program management practices can help resolve this situation. Different incentive and loyalty programs will have different KPIs. If you plan out your KPIs and incentive schemes before the start of your campaign, it should be easier to measure their effectiveness while uncovering areas for improvement. 5 Must-Use Incentive and Loyalty Program KPIs There are seemingly endless ways to measure business activity. Having so many options is often overwhelming. We’re here to save you time. Start measuring the indicators below to learn how well your programs are going. 1. Incentive Program Enrollment Program enrollment is an incentive program KPI worth tracking because, if you don’t have the level of participation your company projected, it’s a potential sign your incentive program management strategy needs reexamining and adjusting. Ask yourself these questions in addition to tracking this loyalty program KPI: 2. Sales Increases Are you about to run channel partner incentive programs or something similar? If so, wanting to see if it increases sales post-launch is understandable. That said, make […]
Tag: incentive program manager
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 […]
