 |
|
In this edition of “Loyalty Pulse” we offer some advice on weathering the economic downturn and our long-term perspective on the fundamental advantages of point-based incentive programs. Whether the US economy slips into a recession or just slows this year, it could be a chance to better position your business for future growth. “Why Invest in an Incentive Program when Times are Tough?” presents a set of recession-tested incentive strategies that we’ve seen lift business results when markets are slowing. “The Power of Point-Based Incentive Programs” shares our enthusiasm for the use of point-based incentives and illuminates the unique advantages we feel this reward format holds over other popular program types. We are also pleased to announce the launch of a new Web site, a resource dedicated to businesses relying on single and multi-step sales distribution models – www.Channel-Incentive-Programs.com. The mini-site distills 30+ years of reflection and research in the field of channel sales incentives and shares our best practices for managing complex partner relationships. Be sure to check it out if you sell through a channel. Our clients have found our insights into these topics valuable - I hope that you find them timely and informative as well. All the best, Why Invest in an Incentive Program when Times are Tough?
Economic gloom…with a dash of hopeThere is no getting around the fact that the current economic conditions are creating a challenging environment for business managers. The somewhat surprising truth is that recessions (and recession-like downswings) are not rarities - most large companies are never more than 24 months away from a major slowdown somewhere in their organization. The bright side is that we are simply on the down slope of a natural cycle…it will eventually reverse and there will be light at the end of the tunnel. In 30+ years as an incentive company, Loyaltyworks has witnessed a number of recessions and downturns. We’ve helped many clients manage through tough times by creatively leveraging the capabilities of their incentive and loyalty programs. Drawing on that experience, this article highlights the most effective strategies and insights we’ve acquired on the subject. Continue reading "Why Invest in an Incentive Program when Times are Tough?" The Power of Points-Based Incentive Programs
Managers face a blur of options when forming strategies to reach objectives like increased sales revenue, improved employee productivity and stronger customer loyalty and share of wallet. While incentive-driven solutions have a good track record for delivering results in these applications, the sheer number and wide variation of program formats can make them difficult options to evaluate.
Over the last three decades, Loyaltyworks has designed and managed many types of incentive programs. Each approach has its merits and in many cases some program designs simply fit specific situations better. But we’ve concluded that one format has consistently delivered the best results for clients (and in the broadest range of business applications) – points-based incentive solutions. If you are considering a business incentive solution of any sort, we suggest that you take a look at points-based programs. In our experience we’ve found them to outperform other reward program formats. Continue reading "The Power of Points-Based Incentive Programs" Client Spotlight: Employee Recognition and Reward Program Situation: A global technology consultant was undergoing an unprecedented organizational change, one challenging the morale and loyalty of a key group of employees. In a unique, strategic move the consultant partnered one of its practices with a client to form a completely new business entity, one poised for significant growth. To form the new company, nearly 3,000 employees were reassigned from the client organization. But the merger also spelled layoffs for thousands of their former workmates, heightening the stress of getting acclimated to a new environment and meshing with a vastly different company culture.
The disruptive nature of the transition raised the potential for job dissatisfaction and employee defection. At the same time, it was essential that these employees stay on board and make significant contributions in order for the new enterprise to reach its potential. Continue reading "Client Spotlight: Employee Recognition and Reward Program" Recent Articles and IssuesTo view articles and white papers featured in past issues of The Pulse, click here.They include:
If you would like to view past "Loyalty Pulse" issues, just let us know at Pulse@loyaltyworks.com. We will be glad to send them to you.
About LoyaltyworksLoyaltyworks designs, develops and manages full-service incentive and loyalty programs that produce measurable business results. For 30 years, we have helped companies drive revenue and profit by building employee and customer loyalty and encouraging desired behaviors with rewards. We offer our clients flexible incentive solutions for channel sales promotion, sales force motivation, employee reward & recognition and more. Our flexible, points-based incentive programs are fully supported with an end-to-end array of services and include program design, our online WebRewards™ technology platform, participant communications, program management, reward fulfillment and performance measurement. We have particular expertise with programs driving sales for companies engaged in channel and multi-step distribution. |
| www.loyaltyworks.com | privacy | contact us | newsletter signup |  |