An overwhelming percentage of organisations rely on incentive programmes to motivate employees to achieve targets, specifically sales targets. At the start of July many businesses will review their performance over the last six months, so if you’re struggling to motivate your staff, and haven’t hit your half year targets, then why not consider tactical staff incentives to boost your sales figures?
There are many benefits to a company of implementing short-term tactical incentives, they:
- Are quick to set up and roll out
- Enable you to set specific targets
- Create focus and motivation among your workforce
- Focus on specific sales targets that need immediate drive
- Generate a surge of activity from your sales team
- Increase short-term sales
- Enable you to move product fast
- Achieve positive results in a short time-frame
How does a short-term incentive programme work?
The advantage of short-term staff incentives is that they are relatively simple, easy and quick to design and launch. Incentive programmes typically run for a short period, for example, three to six months and feature regular communications on the rewards available, and progress towards targets. If you can get creative with your rewards, or offer a wide range of rewards then you will easily be able to generate excitement amongst your employees, which in turn will encourage them to achieve their targets.
Short-term incentive programmes can be used for rewarding individuals as well as teams, so employers can choose to divide their employees into four different categories and reward them accordingly:
- Individual contributors
- Team members
- Work units
- Organisation members
The flexibility of such programmes also means that you can chose to offer a range of incentives, based on what you wish to reward and/or the targets you wish to achieve. If you’re stuck for some ideas, then your incentive rewards could include:
- Target related bonuses (as a percentage of base pay)
- Bonuses paid as part of overall company profits
- Pre-paid reward cards – employees can reserve the money to spend on something extra special
- Vouchers/Gift Cards – which can be tailored to offer something of interest to all employees
- Time off/extra holiday hours – employees could earn themselves time off or additional leave by achieving their targets
- Experience days
- Travel and holidays
- Gifts, gadgets and luxury merchandise
But in order to get the very best from your incentive, and for it to achieve its objectives and provide a return on investment, it must be set up properly. That means you should:
- Develop a programme that meets your specific needs and performance targets
- Create an evaluation system to track performance
- Implement regular communications to staff in order to inform, educate and motivate them
- Choose rewards that will motivate individual staff rather than offering a one-size suits all reward
- Regularly report and feedback to ensure it is achieving its objectives
It’s not just about the numbers
The very nature of a tactical incentive is that it rewards a workforce, either as a unit or as individuals, and enables employers to achieve specific targets and sales objectives. It also offers companies the flexibility to provide different rewards to incentivise team members. It’s important to recognise that your employees are motivated by different things, and what might motivate one won’t necessarily motivate another.
However, as well as incentivising employees, short-term tactical staff incentives can improve a company’s understanding of the challenges your business faces, the competitive environment it is operating in, and how to individually motivate its employees.