In mid 2007, test Online-Rewards was asked to be a 'technical expert' for the Cincinnati Business Courier in regards to Incentive Program Technology. Once a month we answered questions related to the implementation of the Rewards Programs. They are reprinted here for your information.
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| 1. There seems to be an increase in the popularity of incentive programs, how do you account for this? |
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| 2. How can I use an incentive program to increase my sales? |
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| 3. How can incentive programs help me retain employees and save money? |
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| 4. How should I calculate my rewards program budget? |
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| 5. Why should I consider merchandise rewards when I already offer cash incentives? |
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| 6. I have a database of loyal customers, how can I leverage this with an incentive program? |
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| 7. How much time should I allocate to running an effective Reward Program? |
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| 8. How do I convince the decision makers in my company that implementing employee programs is a good investment? |
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| 9. What differentiates you from other employee program vendors? |
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Employee Reward Programs
There is an endless supply of research, which can help you bolster your case in presenting to upper management about the ROI when it comes to employee programs and engagement. One such resource is a study published in 2008 from the HR consulting firm, Watson Wyatt, entitled "Continuous Engagement: The Key to Unlocking the Value of Your People During Tough Times." By creating a culture of employee engagement and recognition, cultivates a better company to work for, which, in turn, provides customer with a higher quality experience, and improves return on investment.