Category: Sales Incentives

Sales Incentive programs

The Reward Debate

Recognition and Reward

A common topic in our industry centers around the benefits of differing reward types and their effectiveness to motivate when used in incentive and recognition programs.  With much discussion and debate, many have offered theories and best practice formulas to substantiate their positions.  Today we are fortunate to have more resources than ever which focus on this topic.

The Incentive Research Foundation (IRF) is a private not-for-profit foundation that funds research studies and develops education serving all segments of the global incentive and recognition industry.  The research and studies published by the IRF focuses on incentive, recognition, and motivation in the workplace, specifically relating to engagement and the use of award types in the industry.

As part of the IRF education initiative, the Spring, 2019 issue of The IRF Quarterly Academic Review is now available.  From Allan Schweyer, Editor:

“Interest in the use of rewards and incentives has expanded; academic study in our field has grown tremendously in recent years, which, in itself is an endorsement of the key role incentives and rewards continue to play in business – motivating employees and other stakeholders to greater engagement, higher productivity and better outcomes.”

The current issue studies cash vs. non-cash incentives to measure the benefits of hedonic versus utilitarian rewards; reward framing; the role of extrinsic rewards in driving intrinsic motivation; the conditions in which incentives encourage creativity and the effect of goal/reward choice and achievability on sales performance.

The increase in academic research has brought an increase in studying the role and impact of incentives and rewards relating to the intangible characteristics of organizations.   Schweyer lists some of these variables as the strength of internal and external relationships, inclusion, trust, development, autonomy, and meaning.  He goes on to say research continues to show that incentives, rewards, and recognition plays a pivotal role in generating and sustaining these characteristics – those that create a “21st century talent culture,” and which generate sustainable competitive advantage.

Download the academic review here.  I found this issue to be especially interesting!

A Welcome Message

Today I once again direct your attention to the very useful Marketing Profs newsletter, where a recent entry by Laura Forer entitled The Indispensable Welcome Email [Infographic] caught my eye. This well-constructed infographic highlights the value and impact of effective communications, especially at the start of the business relationship. Regular readers of this blog will… Read more »

Participant Experience: Survey Says …

Our web-based incentive points platform features many modules designed to enhance the participant experience.  Our clients use these to ensure participant engagement and maximize the benefit of their sales incentive or employee recognition programs.  Whether it is the utilization of graphic goal trackers for a sales incentive program or the utilization of badges for “shout-outs”… Read more »

Spotlighting Merchandise Rewards

Small businesses are experiencing high levels of success utilizing incentive programs that feature merchandise rewards, according to a recent IMRA (Incentive Manufacturers and Representatives Alliance) survey/study.  The survey was conducted in partnership with the IRF (Incentive Research Foundation) and focused on companies with between $1 million and $50 million in annual sales. IMRA found that… Read more »

Gamification – Of Leaderboards and Checkers Boards

As I’m sure that our readers know, gamification is a pretty hot topic these days. However, what our readers may not know, or may not have thought much about, is that there can be confusion in the marketplace about the relationship between gamification and interactive games – especially games of chance. Here at QIC, we’ve… Read more »