Technology, Global Awareness Essential for Successful Global Incentive Programs
By Deborah Vence
Q: What are the overall benefits of a global incentive program?
Johnson: Consistency. A global incentive program can deliver a clear and concise corporate message, while aligning and consolidating corporate goals, initiatives, programs, etc., in a centralized environment where all have equal opportunity to participate and earn.
Hart: One of the biggest benefits is to have a common vehicle to say "thanks" to your global team. Ultimately, this is a great tool for a leader to be able to recognize any employee in your company or for any employee to also recognize a peer or manager, as well. If the system is easy to use, more people will engage in using the program and adoption will grow. Of course, from the sourcing side, a global program allows a company to leverage your buying power and get more value for your investment.
Irvine: The benefits of global recognition programs are many; a few top-of-mind advantages that I'd like to share include creating a strong corporate culture, increasing employee engagement and staff retention.
- Ensuring that employees are recognized and rewarded only when they achieve desired targets by behaving in ways the company has deemed appropriate is crucial. This tactic ensures that a strong link between company values and strategic objectives is formed, and engenders a solid corporate culture.
- If employees are shown on a regular basis how their daily efforts contribute to achieving the bigger picture, they are more connected to the company. Increased employee engagement, increased productivity and high performance are all positive byproducts of this.
- Once employees are confident of their value to the organization, they are more likely to stay, and to stay engaged. In addition, because they are rewarded frequently and appropriately, this engenders a happier, more engaged workforce.