Determining incentive metrics can be very challenging as it is imperative that they match different goals for the employee, company, investor, and other stakeholders. The right mix of incentives to maximize employee productivity requires a transparent program, motivated leadership, and a dynamic execution strategy.

Identify Your Values and Pain Points

The incentive plan and associated metrics should be based on the culture, business model, and goals of the company. Consider goals at both the employee and company level to design effective incentives in this way. Here are a couple examples of different values with measurable actions:

• Health & Wellness: Your employees exercise at least 2-3 times a week.
• Sustainability: Your company recycles x amount each month.
• Humanitarian: Your company holds a drive every year to donate canned food or clothes.
• Relationships: Your company hosts a bi-monthly gathering that encourages 75% attendance.
• Employee Retention: Your employees receive an incentive for staying with the company for every x number of months or years.

Profit-Based Incentives Do NOT Work

This is because in a profit-driven incentive environment, remuneration is determined solely by the company's performance, not by individual or departmental work. Profit is an area beyond your employees’ direct control. Therefore, profit-based incentives are not the most effective.

Make the Program Clear

An incentive plan takes time to implement, which means you will need to keep educating and reminding employees. Effectively communicate your plan and modify it as your business changes. Employees need to understand their own performance metrics and how their actions affect those metrics for a successful motivation plan. List out specific goals and examples of performance metrics that employees must meet to be rewarded. On the other hand, a motivation plan can potentially reduce employee motivation if performance standards are not clearly defined and not adequately rewarded. Ways to communicate your program include:

• Using a designated message board just for your program
• Hanging signage in the office
• Include checkpoints for your program on a public work calendar
• Company newsletter updates
• Creating a visual workflow for employees to refer to
• Emailing updates that make sense for your program
• Include pictures and visuals of the reward to make the concept more tangible
• Talking about it during team or individual meetings
• Creating a document that outlines how your employees can win and how you will reward
• Send out short forms to find out your employees’ wants and needs

Designate Someone or a Team to Keep Track

Keeping track of metrics helps you know if you are effectively marketing your incentive program and reaching your target audience. The main goal is that the value proposition your program presents motivates the desired behavior, which looks different from company to company. You can go back to the key metrics and determine where your program needs improvement with the key metrics.

Performance Indicators, Reviews, or Meetings

A plan that uses key performance indicators can include company, departmental, or personal indicators, or all three. They are an important way for companies to convey valuable information to employees. Employers can weigh each indicator according to its importance, thereby further improving the work efficiency of employees.

Reward through Custom Portals

 At RPG Card Services, we offer personalized services for B2B companies to reward easily and effectively. Allow our team to create a Custom Portal that is focused on success right from the start and makes rewarding with gift cards easy. This secure reward program management platform provides you with the data you need and is customizable to meet the unique requirements of your programs. Look at some of the benefits of utilizing our Custom Portal:

• Dedicated ordering website for your organization only
• A customized look and feel that reflects your branding
• Easy to use interface
• Secure login
• Access to specific products designed for your program
• Dedicated sales representative to support your program

Give us a call at (888)-774-0125 for more information!

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