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Incentive Program Research ArticlesCreating a highly-successful incentive program is not always easy, but often it is a must to meet your business goals. Below is a free collection of research articles and white papers
that can help you get your incentive program off the ground. How To Plan Successful Company Incentive Programs Successful company incentive programs will accomplish exactly what you want them to do if you plan them properly. There are, of course, various schools of thought about what constitutes
proper planning. In general, there are some basic steps you can follow that will allow you to execute your company incentive programs smoothly and successfully from start to finish. How to Calculate Return on Investment (ROI) – The Numbers Game Regardless of the quality of your incentive award program or plan, there is a key element that must be carefully considered and mapped out – the return on investment (ROI). Certainly
the improved morale, increased level of competition, and overall employee or customer goodwill are all direct benefits of any incentive award program. But how can you ensure that the
program will not end up costing you more than its worth? Cash Incentives vs. Merchandise – The Pros and Cons Money makes the world go ‘round, or so they say, but a free weekend getaway or a beautiful piece of jewelry can be equally as rewarding. Every company that implements incentive programs
has their own personal success stories of what works for their particular corporate culture, there is no one universal method or incentive strategy that works for all. For What It's Worth - How Much Should I Spend on a Company Incentive Program? The question of budget is a very important issue that should be factored in to the initial planning stages by those involved with creating or planning any company incentive program.
There are, obviously, implications for going too far to the extreme on either end of the budget spectrum. If you spend too much, then you create an expectation that may be difficult or
impossible to maintain. If you spend too little, the company incentive program may not be well-received, nor will it engender motivation or competition. Balance is the key, and how much
you spend relates directly to the type of company incentive program you create. Tax Ramifications of Corporate Incentive Programs In his article, Primer on the Federal Income Tax Treatment of Incentive Awards, published in January 2000, George Delta, Esq., Tax Advisor to The Incentive Federation, Inc., notes,
“There is very little guidance issued by the Internal Revenue Service ("IRS") on employee achievement (incentive) awards.” That said, the purpose of this article is to help clarify some of
the complexity regarding the tax ramifications of administering corporate incentive programs. Creating SMART Goals and Objectives for an Employee Reward and Recognition Program The primary purpose of an employee reward and recognition program is to motivate your employees to do what your business needs them to do. The challenge is identifying the circumstances
that will effectively stimulate your employees to produce long-term, measurable benefits for your business. The accomplishment of the desired results depends on your ability to define
precisely what you are trying to accomplish and why it’s important. Name Brands versus Brand X - The Benefits of Using Brand Names in a Corporate Incentive Program While this may seem like an obvious thing to do, if you’ve even contemplated using non-brand name incentive merchandise because of budget or convenience, you should know that the amount
you save in time and money will cost you where it counts – with the intended recipients of the rewards. The end result could be disastrous, ultimately leading to the downfall of the
corporate incentive program. Incentives Marketplace – Our Competitive Edge The incentive industry has evolved into a multi-billion dollar business creating a whole new category of companies that can help you do everything from designing an incentive program,
to creating promotional materials to help you market your program, to fulfillment of your program. As a full-service incentive company, Incentives Marketplace does more than just offer
merchandise for incentive programs. Incentives Marketplace is a performance improvement company devoted to providing clients with a single source for high quality, affordable incentives designed to achieve
business goals. Contact us today with your specific needs and put our incentive programs and experienced staff to work for you! |
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