--- title: 10 Things You Didn't Know About Employee Incentive Programs description: Are you looking for reasons why an employee incentive program is good for your business? Look no further! image: https://blog.rpgcardservices.com/hubfs/circles.jpg --- [![RPG CS US Logo2](https://blog.rpgcardservices.com/hs-fs/hubfs/RPG%20CS%20US%20Logo2.png?width=200&height=67&name=RPG%20CS%20US%20Logo2.png "RPG CS US Logo2")](https://www.rpgcardservices.com) [![Buy Now](https://no-cache.hubspot.com/cta/default/5948913/01bd8890-ed79-486d-a93a-1cf4ab348d12.png)](https://cta-redirect.hubspot.com/cta/redirect/5948913/01bd8890-ed79-486d-a93a-1cf4ab348d12) # Welcome to Our Blog! ## [10 Things You Didn't Know About Employee Incentive Programs](https://blog.rpgcardservices.com/blog/10-things-you-didnt-know-about-employee-incentive-programs) ** May 4, 2021 10:00:00 AM / by [Lauren Zahakaylo](https://blog.rpgcardservices.com/blog/author/lauren-zahakaylo) - [Tweet](https://twitter.com/share) ![circles](https://blog.rpgcardservices.com/hs-fs/hubfs/circles.jpg?width=500&name=circles.jpg) Recognizing employee performance is THE BEST way a company can increase productivity, reduce absences, and improve workforce engagement and retention. The results will be dramatic.  If you're not convinced - check out the facts below!  - The number 1 reason people leave their job is feeling unappreciated. - Employees with high job satisfaction are 20% more productive. - Sales reps with high job satisfaction produce 37% more sales. - Companies with a formal recognition program have 31% less voluntary turn-over.  - Peer-to-peer recognition has 36% greater positive impact on financial results than manager-only recognition.  - Peer-to-peer recognition produces a 41% improvement on customer satisfaction.  - 85% of companies spending 1% or more payroll on a recognition program report a positive effect on engagement.  - Praise beats financial incentives for 67% of employees.  - U.S. organizations spend more than $100 billion on incentive programs.  - A mere 14% of companies provide managers with the tools and information they need to create effective recognition programs.  Now you're probably wondering how to implement a recognition program! Check out 6 easy steps below:  - **Evaluate: **Assess your organization to determine program goals, performance factors that affect those goals, and overall state of employee engagement/job satisfaction.  - **Create: **Construct a program that focuses on rewards for activities that contribute to program goals - keep it simple, measurable and scalable. - **Sell It: ** Get buy-in from company leadership. Get pre-launch feedback from employees - it helps you fine-tune like nothing else!  - **Communicate: **Establish regular, consistent communication of program results throughout your organization. Key: communication must be energetic and have emotional appeal. - **Measure: **Your program will die on the vine without careful measurement and reporting. Without seeing results, employees and leadership will soon shift focus elsewhere.  - **Assess and Improve: **Use measurements and ongoing dialog with employees to continuously improve. The worst day of your program should be the first day.  [Click here ](https://landing.rpgcardservices.com/guide-to-employee-recognition-infographic)to download our Guide to Employee Recognition Infographic!   Tags: [Incentive](https://blog.rpgcardservices.com/blog/topic/incentive), [Motivating Employees](https://blog.rpgcardservices.com/blog/topic/motivating-employees), [Recognition Program](https://blog.rpgcardservices.com/blog/topic/recognition-program), [Employee Recognition](https://blog.rpgcardservices.com/blog/topic/employee-recognition), [Infographic](https://blog.rpgcardservices.com/blog/topic/infographic) #### Written by [Lauren Zahakaylo](https://blog.rpgcardservices.com/blog/author/lauren-zahakaylo) ### Subscribe to Email Updates - [Recent](https://blog.rpgcardservices.com/blog/10-things-you-didnt-know-about-employee-incentive-programs#tab-1) - [Popular](https://blog.rpgcardservices.com/blog/10-things-you-didnt-know-about-employee-incentive-programs#tab-2) - [Categories](https://blog.rpgcardservices.com/blog/10-things-you-didnt-know-about-employee-incentive-programs#tab-3) ### Lists by Topic - 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