In times of crisis firms strive to make optimal use of their resources, without running the risk of demotivating employees or, worse still, losing them. Which trends will firms continue to offer a competitive advantage in these turbulent times?
No-one wants to be just like all the others
Alongside the trend of providing staff members with a customised extra-legal package, as far as employee incentives are concerned people are increasingly on the lookout for personalised incentives. This is why more and more firms are choosing to abandon the uniformity incentive, where the difference between the psychological value (often the retail price) and the purchase value (dependent on the purchased volume) fails to counterbalance the potentially demotivating effect for the employee. Are you sure that you as a firm are not also giving out the message that you see all your employees as one and the same?
A single supplier offers insufficient options
In order to minimise this effect while nonetheless bringing in sufficient yield, firms often allow employees to select from a range provided by one single supplier, which could be via a webshop for more rapid interaction. At first glance this seems a good idea. But all too often the firm is bound to the partner’s suppliers, meaning the range is more limited and the employees often can’t choose from the latest models or product versions. After all, the partner has often purchased (large) volumes to maximise both its margin and that of the client. Correct economic short term logic, but is this really wise in the long-term? And what would be a better alternative? The answer is simple.
Customised motivation via a dynamic incentive marketplace
Let employees in a dynamic incentive marketplace choose from a varied range of incentives from different suppliers and this upon every occasion, whether it be staff benefits (marriage, birth, length of service, end of year, retirement) or incentive programmes for employees (sales incentives, quality improvement, idea management). All of this tailor-made to both the employee and the firm and accessible 7 days a week via computer, smartphone or tablet. Work where possible with digital incentives such as digital vouchers, online reservations, e-tickets or virtual prepaid gift cards. This real time remuneration increases not just the employee experience, but also lowers the costs of shipment and internal follow-up, important factors to take into consideration for the firm.
Bind employees to your firm more strongly
Firms which demonstrate their appreciation of their employees via a real time incentive platform with a personalised range, while keeping the costs well under control, build up a unique advantage as regards employer branding and retention management. This is the way in which we at SwingGroup, Benelux, leader in incentive marketing for 8 years now, are providing a helping hand and which increasing numbers of firms with the challenges of tomorrow are signing up to.
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Gunther Everaert is the Managing Director and Founder of SwingGroup, the incentive marketing market leader in Benelux. He has strategically advised and developed integrated incentive marketing solutions for Fortune 500 clients such as BMW, Coca-Cola, GE, Philips and Unilever. He has spoken at trendsetting conferences such as Digital Marketing First and HRM Masterclass e-recruitment, given interviews on Belgian national radio and is a regular guest lecturer at Ghent university.