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A Look at Employee Incentive
Promotional Programs:
The best types of promotional
programs are built around a specific need or
problem. One of the most effective types of
promotional programs is the Promotional Employee
Incentive Program. Why are they so effective?
Because Incentive Programs start at the source;
your employees’ motivation.
 Many
studies have been performed that prove what
common sense tells us to be true: if you want
to increase performance while decreasing accidents
and increasing profitability, your employees
need to be motivated and alert while on the
job. Promotional Incentive Programs, when applied
well, can be extremely effective at raising
the profitability of your organization. Here
are some basic tips to help you build your next
Employee Incentive Program:
Motivation Is Key
As was alluded to earlier, the best place
to start when trying to solve human resource-related
issues is with employee motivation. For example:
in a recent study conducted for the United States
Federal Motor Carrier Safety Administration,
it was found that programs aimed at increasing
employee motivation in trucking companies showed
the most promising and effective results in
reducing accidents and increasing productivity.
Return on Investment
When designing your program, make sure to
factor in some sort of plan for analyzing its
effectiveness. At the end of the year, compare
your program expenditures against the financial
gains/losses and the increase/decrease in efficiencies.
Obviously, you want to get as high a return
as possible on your Promotional Employee Incentive
Promotional Program, so it may take a little
tweaking after the first year or so to get the
results you need. It is not uncommon, in some
industries, for these types of programs to show
a 3:1 benefit to cost ratio. This means that
for every dollar spent, 3 dollars will be shown
in savings or profits.
Commit To It
Employee Incentive Promotional Programs usually
hit their peak stride in their second or third
year. Why? Because it takes time for a staff
to fully get on board and get involved with
a program. Understand that, in order for a program
of this type to be successful, your people have
to believe in it and be excited about it. Developing
that level of trust and enthusiasm can take
time and experimentation. Employees talk amongst
each other, and if people start having positive
experiences, they will start sharing them with
others. The excitement will build and snowball
almost by itself after that.
Plan, Plan, Plan
Implementing a program of this sort can be
a daunting task. Planning is essential at the
beginning stages. Make sure to do research on
successful programs within your industry and
try to identify what elements were successful.
Look as far ahead as you can to try and identify
potential trouble spots. If you are a smaller
organization, or don’t have the time or
manpower to devote to planning an Employee Incentive
Promotional Program, be sure to bring an experienced
outside consultant to help you plan and build
your program. There will always be adjustments,
but having to reengineer a failing program can
drastically reduce your employees’ trust
in your Employee Incentive Program.
If you are interested in learning more about
Employee Incentive Promotional Programs, contact
Powertex. Our professional staff will help you
identify your opportunity areas, and help find
ways to increase your profitability through
Employee Incentive Promotional Programs. We
can, from start to finish, help you build, implement,and
maintain your program. Give us a call today
at (800) 588-7111, or email us at customerservice@powertexgroup.com.
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