Companies that consistently and clearly communicate their objectives will see stronger results, helping to drive performance and increase engagement levels.
Improving communication is a vital step toward maximizing the benefits of employee reward programs. Companies that consistently and clearly communicate their objectives will see stronger results, helping drive performance and increase engagement levels.
Unfortunately, many organizations struggle to provide clear outlines for their incentive programs. According to the global sale consulting firm ZS Associates, 75 percent of compensation incentives do not produce the desired results due to poor communication between management and staff. Companies that want to improve the coordination of their reward and recognition programs could work with specialists like Xceleration. These firms have the knowledge to guide businesses through the creation process and help them convey their messages effectively.
Provide regular feedback
One problem that many organizations face is the inability to provide regular feedback to employees. Having a reward structure in place is only effective if workers are able to easily move along the desired path. Recognizing staff members on a regular basis helps increase awareness and participation for the program. Occasional reminders or messages of encouragement are a simple way to keep employees focused on short and long-term objectives, and technology is making this easier than ever.
Incentive Magazine notes that social media networks can be a valuable tool in creating more effective reward programs. The network provide forums for workers to offer encouragement, support and even track their progress against their co-workers. Public recognition can increase the sense of pride and engagement staff members show, and social media is an ideal medium to continue the public support for their efforts, as it provides instant recognition.
Tracking results effectively
Companies that improve communication within their incentive programs will see better results, but they also need to combine this dialog with the means for individuals to track their performance. This is one reason gamification strategies have become popular among sales teams. They enable workers to compare their progress with that of co-workers, which inspires them to try harder to win various competitions.
Businesses don’t need to employ gamification to see the benefits of tracking performance. Employees who are close to fulfilling personal or team goals may try a little harder to achieve their goals, but they need to know where they stand at any given time. Xceleration can host incentive program platforms for their clients, allowing secure access for all participating parties. This enables staff members to check their progress without requiring a lot of administrative or technical support from the company.