Consulting With the Experts
Incentive Programs are typically designed to promote the adoption of Best Practices in Safety, Attendance, and other places in the workplace where effort can improve results. They are often also used to recognize Sales, Wellness or achievement.
Many incentive providers believe that they are in the package business… they offer a small variety of promotional products- a hat, a shirt and a mug- and leave you to decide how you’re going to hand out the items. Some offer a more sophisticated “package”- perhaps an online store with a larger variety of items- but they are still dumping the administration of the program on you, the client, to figure out how the program will operate and what to tell a participant who can’t make the website work.
At IncentPros, we are Incentive Specialists. That’s why we developed the IncentPros subsidiary of PromoPros: our Incentive Specialists are focused on the custom design, implementation and turnkey management of a program that specifically addresses your goals. The team that formulates your solution includes individuals degreed in professional engineering, behavioral psychology, and graphic design, all coordinated by a Certified Professional Incentive Manager. Most of all, that team brings to the table our experience of what works (and doesn’t) in the successful programs we have designed for others.
In the design stage, we examine your corporate priorities and goals and recommend a program that accomplishes those goals while fitting your budget, special IRS tax provisions and (where applicable) OSHA and other regulatory guidelines. We then suggest implementation strategies designed to overcome the naysayers and get your entire corporate body enrolled in being active participants. Most importantly, we provide 100% turnkey management of the day-to-day and operation of the program. Elements like a corporate-logoed website (complete with a selection of over 15,000 Lifestyle Merchandise items), a toll-free help-desk staffed by friendly professionals, and managed reports provide the results you are looking for without excessive demands on your staff.
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Why ROI Matters
The Return on Investment (ROI) is often considered a good measurement tool for evaluating a proposed expenditure. In essence, the ROI tells you how many dollars your bottom line will increase for every dollar you spend on a project. A well-designed Incentive program will regularly return an ROI of 150%- that is, for every thousand dollars you spend on a program, you will see savings/income of fifteen hundred dollars. The fact is, we have clients reporting an ROI of over 300%. We’ve actually had CFO’s who were skeptical at year one come back and ask how much we can increase our budget and maintain the significant ROI!
There is a second facet to ROI, and that is the Return on Performance. Once you establish with your financial people that the program will pay for itself, and more, it is significant to note that independent studies conclude time and time again that incentive programs are exceptionally successful tools for improving performance, morale, and attitude within a corporate culture.
We at IncentPros will be happy to help you calculate your company’s ROI, and to estimate how it might improve in future years while using our programs. Contact us for a consultation.
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