IRF 2017 White Paper on their Incentive Benchmarking Survey
In the IRF's Incentive Benchmarking Survey, the IRF looks at what top performing companies do differently than all other businesses regarding non-cash rewards and recognition.
Gallup's 2017 State of the American Workplace
STATE OF THE AMERICAN WORKPLACE presents an unparalleled look into the
modern workforce. The report is based on Gallup’s in-depth research and
study and was created to help business leaders optimize their attraction,
retention, engagement and performance strategies in a time of extraordinary
change. The findings and best practices speak to employees’ evolving wants
and needs and give leaders a clear understanding of what it takes to be an
IRF 2017 Trends Study
This paper was developed through collaboration by the IRF’s Board of Trustees and advisors, pulling information from the IRF’s extensive internal pool of data and client experience, and from outside research. This collaboration yielded 10 important trends for incentive travel, reward, and recognition programs in 2017.
Rewards and Recognition Vital Components
Firms are seeking to capitalize on every available competitive edge, and the potential of higher achievements among the human capital of their sales team may represent one of the most significant opportunities to grow revenue and market share by hitting quota more consistently. While the classic business-to-business (828) sales organization may traditionally be identified with a harsh "every man for himself' mentality among reps, and even Darwinian managerial techniques - "only the fittest survive" - is there a more user-friendly way to hit sales targets with motivators other than cold cash?
Incenting Success Best In Class Sales Management
While cash is king when it comes to compensation priorities for B2B sales professionals, is not the only game in town. New research showcases the importance of non-cash incentives in both motivating and rewarding a more nuanced set of sales behaviors than those considered necessary a generation ago.
Non-Cash Incentives Best Practices
In the view of many casual observers, managing a sales force should be straightforward: hire a rep with a proven track record of making a number; give them a territory, script, phone, and price list; and let them sink or swim based on their ability to meet quota. While a cut-and-dried transactional sales environment might be appropriate for this approach, in today's business-tobusiness (828) space, most contemporary business development efforts require the antithesis of this overly simplistic approach.
IRF The Use of Reward and Recognition
Our survey’s participants manage recognition and rewards programs focused on achieving specic performance outcomes. Not to be confused with normal sales commission bases, stock options, or other types of cash payment arrangements, these programs can be considered “Classic Incentive Programs” in the truest sense.
IRF Pulse Survey Fall 2015
In addition to the current topic on industry trends, the IRF tracks core issues of continuing
interest to the industry:
• The extent to which company financial forecasts influence incentive programs;
• The effect of competitor reactions on company incentive programs; and
• Sensitivity to others’ perceptions of company incentive programs.