The Incentive Research Foundation recently issued a detailed report that compiles and categorises research from 46 different sources into its “2012 Trends in Rewards & Recognition” report.
Excerpts from five of the key trends in the report are shown below with our thoughts added.
1) The need to move quickly
Five year strategic plans no longer serve in a fast-moving, global business world. Organisations need systems – including recognition and reward programs – that can flex quickly to reinforce the changing objectives in your employees daily work.
“Develop your reward program, launch and monitor the results. You can refine and adapt as you move forward. Speed of delivering recognition is key when inspiring and motivating staff. The sooner the recognition is registered the greater the effect.”
2) Utilise mobile technology
We now live in a mobile world. Not adapting to mobile technology will mean being left behind. Indeed, as mobile applications become another way of interacting, there is little reason to not incorporate mobile into recognition and reward program planning.
“With the widespread use of smart phone and mobile technology integrating mobile applications is a necessity. You can deploy your reward program to deliver inspirational interaction anytime, anywhere.”
Gamification can play a role in recognition and rewards, but program designers and managers must be careful to ensure they aren’t gaming the wrong behaviours. You never want to “game” a system to encourage more recognition for the sake of recognition alone as that weakens the purpose and intent of the program.
“Your reward programs need to be fun to use and intuitive, but the business benefits and measurement of the changes in behaviour should not be diluted. You need to be able to measure your return on investment.”
4) Research Proves the Point
The weight of research behind moving away from cash-based incentives to non-cash strategic recognition and rewards can no longer be ignored.
“Research proves that non-cash motivators are more effective than financial incentives. A cash reward may simply pay the credit card bill. Consider experiences as rewards as they will have a greater and more lasting impact on the recipient. Just watch the results when they tell their colleagues about their experience. Reward experiences become infectious.”
5) Technology Integration
Integrating HR, CRM and recognition and reward systems delivers more data value to an organisation by giving you more points of information on performance and areas needing improvement.
“In order to maximise efficiency, reduce the risk of error and maximise business benefits reward and recognition programs should be integrated with your back end technologies.”
Brownie Points has been designed to deliver inspirational reward and recognition programs that add real value to your bottom line. To learn more call us on 03 9909 7411 or email us at firstname.lastname@example.org