Inspiration for Motivation Features
Consistency, equality, relevancy, local sourcing and adherence to government regulations rank among the top challenges facing global businesses trying to build meaningful reward programs.
A new report released in March revealed that loyalty programs have a higher influence on gen Z and millennial consumer spend than on boomers—66 percent vs. 58 percent. The Loyalty Report 2018, released by Bond Brand Loyalty, a global customer engagement agency, indicated that gen Z and millennial consumers are changing loyalty, and are open to behavior tracking, paid loyalty and deeper brand engagement through technology. But, younger consumers are less satisfied with their programs (30 percent) compared to their boomer parents (49 percent).
The Incentive Research Foundation announced the release of its signature study, The IRF 2018 Trends Study. The study highlights 10 key trends that will affect organizations, their products and services, and the workforce in 2018. From market optimism to concerns about risk and safety, the study identifies key areas of change and their implications for workforce engagement, incentive travel and recognition.
A first-of-its-kind experiment by the Incentive Research Foundation (IRF) revealed how people prefer to receive recognition and rewards. In December the IRF released "Reward Presentation and Attraction: A Biometric Experiment," a second report that details the findings from the IRF's first-of-a-kind biometric experiment that examines how people prefer to receive recognition and rewards.
The tax exclusion afforded incentives and corporate gifts in Section 274(j) of the IRS Code will be retained, thanks to the efforts and collaboration of incentive industry partners.