Thought Leadership
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Sales contests guide
Successful sales contests include three critical elements: goal setting, emotional commitment, and focus. These elements will serve as the foundation for both short-term and long-term programs that will ultimately help you engage your sales reps to achieve your business objectives. Explore our guide to learn best practices to follow when designing your next incentive program. […]
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Rethinking the rebate
However, rebates have become ubiquitous in the channel and are not impactful in capturing the attention of channel partners or differentiating your business and products from the competition. Often, rebates are hastily implemented as a reaction to a competitor’s offer of a rebate for a similar product at a lower price. What if your competitor’s […]
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How do you win with incentives?
With incentives, it starts with: “Why would you do one in the first place?” We all like to win, we all like to feel appreciated for the effort we put forward, and we all like to be rewarded. It’s called the “dopamine effect” — the rush we get when something good happens to us. You might ask, […]
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How recognition and rewards impact employee turnover
What is employee recognition? Employee recognition is the timely, informal or formal acknowledgement of a person’s behaviour, effort, or business result that supports the organization’s goals and values, and exceeds his superior’s normal expectations. What is the connection between recognition and turnover? BI WORLDWIDE (BIW) conducted a study on the correlation between employee turnover among employees who are […]
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11 ways to run successful sales SPIFFs
SPIFFs can effectively drive immediate results. How do you make sure you’re getting what you need out of the SPIFFs you run? Let’s take a closer look at what goes into sales SPIFFs – and what you may need to think twice about. 1. Half of the money spent on sales rewards and incentives might be wasted […]
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Linking EVP to Employee Engagement
EVP is the way in which an employee experiences everything about what they have going on with their coworkers, team, boss, leader, and their organization. Those decisions regarding the value proposition are made moment to moment. These moment-to-moment experiences build over time into this cumulative thing called the EVP. Your EVP is also important for […]
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Hedonic vs Non-Hedonic Rewards
What kind of reward is most effective? Do certain rewards work harder and last longer than others? Can a reward motivate or inspire employees to become their very best? The answer is YES. A study by WorldatWork indicated retail gift cards continue to be a popular choice for organizations that use them as employee recognition awards, years […]
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How we created a global culture of recognition for IBM
If you asked your employees to share three things you do as an organization to inspire them, what would they say? Inspiration is what moves us beyond the mundane toward the extraordinary. Academicians Todd Thrash and Andrew Elliot developed an Inspiration Index1 and found that inspired people: – We’re more creative – Believed in their own abilities – Had higher self-esteem – […]
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9 sales contest ideas that work
From telecom customer care centres to heavy equipment manufacturers, companies in every industry are running sales incentive programs to inspire sales team and channel partner performance. Standard compensation plans can only do so much – to really increase performance, you need the engagement and motivation that only a well-thought-out, creative sales incentive contest can provide. Paycheques are […]