Posted by Angela
Motive8 has been making a bit of a splash lately and we have been seeing lots of potential clients and one question that has been coming up regularly is ‘what else do we need to be aware of?’.
We have put together a check list on things that can overlooked once you have decided to implement a program:
1. Make criteria clear and fair. Participants need to know what is expected and that they are entering a level playing field.
2. Make terms and conditions prominent. Participants need to know what to expect.
3. Communication. Don’t make a song and dance in the first week and then neglect it as the incentive will lose its relevance. See our earlier posting on how communication can drive your programs success.
4. Participants Demographic. Understand what drives their motivation. See our earlier posting on customising your program for employees.
5. Include all employees not just front of house. Administration and support staff make the back end work so don’t forget to include them.
6. Track Log-ins. If your program is online know which participants have logged in and those who haven’t. It will help you access the general vibe and take up of the program.
7. Freight cost. Will rewards be sent to home or office and will someone be available to sign for them? Will freight be post or courier?
8. Redemptions. When your participants received their rewards, ensure they attached the reward to your company.
9. FBT Liability. - whose paying for it and where does it sit. Factor it into your costs.
10. Legal team. Have your criteria and terms & conditions checked by your legal team so there are no surprises.
Posted by Angela
Two recent surveys have shown salary is no longer the key motivation to attract and retain staff; companies now need to show why someone should want to work at their company and how their contribution will make a difference.
Brisbane HR consulting firm Astor Levin conducted an employee satisfaction survey with over a thousand respondents across many industry sectors and company sizes right across Australia.
71% of those surveyed were satisfied with the organisation overall but 40% were planning to look for work elsewhere in the next six months. Nearly half felt there were better career opportunities outside their current employer. Only 26% of respondents reported their primary motivation as pay. Factors such as good leadership, work life balance and career advancement are key drivers for over 50% of employees.
Another survey, from recruiting firm final5 found that 48.5% of their respondents claimed they would leave or quit their job in the New Year. Those aged 18-34 were significantly more likely to leave their jobs (60%) than those aged 35-54 (44%). Of those wanting to leave only 19% sited more money with 25% seeking further career advancement or time for a change as their primary reasons for moving on.
Employees want to make a difference with 73% agreeing that it is important to feel like they are making a difference. 81% also said they would consider working for a not-for-profit organization with the main drivers being feeling like they are contributing to society and a belief in the cause.
Results from these surveys highlight that;
• Companies will need to be more creative in attracting and retaining employees and even if a company is able to attract the right people to work for it, retaining those people will be a challenge as their motivation is more than just money.
• Generation X and Y are more likely to move more frequently and are rejecting the old “job for life” concept.
• Bosses need to show employees how their contribution is making a difference to the company so the employee feels valued in their work.
With Australian unemployment hovering near a 30-odd year low of 4.3%, employees are in a strong position to pick and choose.
A fun working environment which values risk-taking and innovation is more likely to keep staff from wavering. The key is the corporate culture and by changing the behaviour of employees and rewarding and communicating these efforts ensures it is a win win situation for both the employee and the employer.
Companies with a structured incentive strategy outperform companies without this planned approach.
Posted by Nicole
We run a number of incentive programs for a client who has branches Australia wide. Standard terms and conditions for each program state that a branch may opt out of any incentive program. For the current program they decided to change this procedure and sent out a form to be returned only if they wish to opt out.
We were startled when lots of forms started coming in and thought the incentive was not appealing. On our investigation we discovered that the Branch Manager had assumed it was to opt in as they had never had a form to opt out before or for that matter to opt in.
If you are going to change procedures, be clear on what you are asking them to do and don’t hide it in the fine print.
You are currently browsing the Employee Incentives weblog archives for January, 2008.