INSIDE INCENTIVES
17 per cent increase in productivity. Our focus groups demonstrated that there is still a focus on a segmented approach to sales and business development. What would be invaluable here is the ability to reset our reward and recognition approach under one, business-wide concept that still provides physical and monetary incentives to those in specific teams while not segmenting or alienating those across the business without whom success would not be possible. Reacting to change With restriction in force and traditional reward avenues such as overseas travel off the table, many organisations found it impossible to pivot effectively and as a result, simply ended all reward and recognition activity that operated on traditional models. The actual reward delivery was a factor, but so was team location, furlough and measurement of activities. This will no doubt have been costly in terms of engagement, productivityand ultimately sales. Those organisations who had already adopted platform-led systems fared best, but were still left with a hole in the process in terms of sourcing and promoting exciting reward concepts in a world locked down. Ultimately this has again provoked organisations to look at how we can evolve reward and recognition schemes to be fit for both challenging and more ‘normal’ circumstances. Charting a path forward There is a desire among professionals responsible for reward and recognition to solve their current problems and chart a path out of the current environment to success. With existing approaches, strategies and concepts now looking increasingly dated and more importantly, not viable for a significant time period, we need to look to the future.
Our focus groups demonstrated that it has been hard to create a clear roadmap for progress. Professionals have needed to align with business priorities focused on tackling the wider environment,and wherever they could, maintain their reward and recognition programmes when all the contents have become variables and the ultimate outcome has been stripped away. For some, it simply was not possible to continue and for others, the new rules of engagement have been difficult to navigate. Creating personalised solutions Historically, reward and recognition has been led by the reward. The understanding has been that delivering a successful programme begins with an incentive which will engage your audience. Moving forward, there is more scope for this to be personalised, engaging every member of your audience on a more intimate level. The key concept is choice. We cannot provide each and every individual with a personalised reward and recognition programme, but we should absolutely make doing so our vision for the future. Our current environment means that bringing people together for group trips or experiences is not viable in the near future so Gamification and content led approaches will be paramount for the future”
42 MAY 2021 mitmagazine.co.uk
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