Great rewards equal great performance.
In 2012, employee incentive programs research company i-Myth studied a Fortune 500 company´s incentive program to find out whether promises of vacations and other prizes produced measurable results in employee performance.
The company's goal was to increase market share, revenue and net operating income within a fixed amount of time. Sound familiar?
Their incentive program – which, among other prizes, offered a seven-day luxury beach vacation– proved to be a phenomenal success.
Market share increased by more than 30% in nine of 12 markets, revenues increased by 32% and net operating income increased to 19% of revenue.
Other studies point to the same results: an increase in motivational rewards – particularly destination travel – consistently translates into increased workplace performance.
Employees love incentive programs. Sales rise. Morale goes up a notch. Excitement emerges.