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Corporate Incentives: Scheming to reward.
Incentive programmes undoubtedly help to boost employee morale, but in straitened times, companies must ensure they extract maximum value from them.
It is no secret that the recession has forced companies to re-evaluate every area of expenditure. This was underlined by the record falls noted in the latest Bellwether Report, which charts predicted marketing budgets. However, despite the bad news, the corporate incentives sector may be able to buck this trend and maintain budget levels, if not increase them.
Incentive schemes are generally aimed at one of two audiences: employees or sales teams within retailers.
In the case of the former group, redundancies and wage freezes are hitting morale. In the case of the latter, falling footfall and consumer spend on the high street mean many brands need to take a greater market share simply to stand still.
Despite these two very different target markets, incentives generally work in the same way: by offering and giving someone a reward in return for a desired action. Once this reward has been given, its success will depend on whether it has been memorable enough to ensure the required behaviour continues.
Incentives provider Grass Roots, which works for companies including BT and British Gas, recently ran an industry survey, that reported that 61% of respondents believed there was a greater need to incentivise in times of economic uncertainty. Other incentives specialists also report strong demand in the retail, utilities and telecoms sectors.
However, a separate study by fellow specialist Accor suggests that the industry has its work cut out. It found that overall levels of employee involvement with their employers are in decline, with 45% saying they are uninterested in the business. Additionally, only 29% of employees said they 'often' found fulfilment in their job.
- Grass Roots launches pre-paid debit card for employee reward.
- Magazine article from: Employee Benefits April 18, 2006 700+ words
Grass Roots is launching a pre-paid...employers an easy way to reward staff. It is reloadable...to nine million outlets. Grass Roots already offers employers...founder and chairman of Grass Roots, said: "The development...
- Grass Roots Group Consolidates Events Business Brands in the UK.
- Press release article from: M2 Presswire December 12, 2008 700+ words
...amp; Chairman of Grass Roots, notes, "As...countries where we have Grass Roots business, clients...measurement, reward and events...events division of Grass Roots UK into Marlow...measurement, rewards and events. Founded...
- GRASS ROOTS-McGETTIGAN $400 MILLION DOLLAR PARTNERSHIP PUTS NEW NAME ON GLOBAL...
- Press release article from: PR Newswire October 16, 2000 700+ words
...and purchasers. The Grass Roots Group PLC One of the...providers in the UK, The Grass Roots Group is located in Tring...Improvement, Awards & Rewards, Research, Learning...Event Management. Grass Roots is an Associate of WPP...
- Grass Roots acquires 90 pc stake in Tajonline.
- News wire article from: PTI - The Press Trust of India Ltd. October 1, 2008 700+ words
...Tajonline India. While Grass Roots has acquired 90 per cent...founder Charoo Aggarwal, Grass Roots said in a statement...particularly in the area of reward, recognition and incentive...combining the existing Grass Roots business with Tajonline...
- PRODUCT NEWS: Grass Roots launches childminder search site.(Brief Article)
- Magazine article from: Employee Benefits February 10, 2006 700+ words
...sacrifice schemes. Recipients of Grass Roots' Care-4 childcare voucher...limited to customers of The Grass Roots Group, making it available...GlaxoSmithKline. Andy Lister, head of reward services at Grass Roots, said: "We're trying to...
- Grass Roots names senior account director.(Sonia Chana )(Brief Article)
- Magazine article from: Precision Marketing February 25, 2005 700+ words
...Motivation services business Grass Roots has appointed Sonia Chana senior...she worked for Sainsbury's Reward Card. Grass Roots managing director Rik Burrage...a record- breaking year for Grass Roots, in terms of our business performance...
- The Combination of Grass-Roots and Major Event Sponsorship Should Ensure Strong...
- Press release article from: M2 Presswire November 28, 2007 700+ words
...The Combination of Grass-Roots and Major Event Sponsorship...balance of risks and rewards in sports sponsorship...Premierships and global games, grass-roots sponsorship of sport...The combination of grass-roots and major event sponsorship...
- Grass-roots agent effort critical to achieve SEMCI. (Editorial...
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management October 7, 2002 700+ words
...information on this issue, only grass-roots pressure will make the difference in the end. "[A]gencies need to reward those companies which respond to...puts their demands over the top is grass-roots strength--the willingness of...
