Incentive Awards Programs

Written by Diane Sievert
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Incentive awards programs are an indispensable business practice for company executives who want to make sure that their businesses are a success. Incentives can drastically alter the way your employees approach their job and they can also change the way customers perceive you.

Whom to Target with Incentive Awards Programs

There are two main categories of recipients when it comes to incentive awards programs: employees and customers. True, employees get a salary, but they may need a little extra push if you want to see some truly impressive work. Customers, on the other hand, could easily take their business elsewhere; therefore, offering them incentives to do business with your business is just another way to keep their interest.

If it's employees you're attempting to interest, the first step in creating a successful incentive awards program is identifying the areas of employee performance that need improvement. Not all businesses have the same problems, so this is a crucial step in the process. Once you've determined the aspects of employee behavior you want to change, all you have to do is explain the incentive guidelines to the employees and offer them some reasonably attractive rewards, and you're on your way.

If your target audience is your clientele, you'll need to develop a different strategy. Most companies offer customers incentives in order to get them to spend more (i.e., for every hundred dollars you spend with us, you'll get a free gift) while some companies choose to focus on loyalty instead (i.e., if you buy from us five times, you'll get your sixth purchase free). In the end, no matter whom you're targeting, you're sure to find that incentive awards programs are a valuable investment.


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