Will Work for Incentives
That being said, Newton, Iowa-based The Vernon Company recently revamped its recognition program, which recognizes individuals based on sales volume. Andrea Smith, Vernon Company's recruiting specialist, explained employees are allowed to choose their awards and, whenever possible, are recognized in-person.
"Motivation is the single most-powerful strategy used to promote performance and positive behaviors," Smith said.
The program was retooled to overcome several challenges, she explained. The previous program included gift items that were "outdated and impersonal" and the company felt the gifts needed to appeal better to men and women and its multi-generational workforce.
The new program not only is geared more specifically to the individual employee, Smith said it is better aligned with company-wide trends and minimum sales requirements. It also developed additional recognition opportunities for account executives in the local markets within the company.
The Vernon Company recommended reward levels for sales volumes up to $10 million, and gift levels starting at $250 and ending at $2,000.
It's not just about the money at The Vernon Company—its new program also includes a variety of different types of pats on the back. Additional recognition includes congratulations from Vernon Company senior management, special seating at the company's annual national sales meeting, mention in the district and regional newsletter, a write-up in the corporate newsletter and note of the million-level recognition on business cards, Smith commented.
Study results did not show whether gifts or recognition other than cash motivated employees.
"The researchers cited a lack of sufficient research to isolate the relative motivational value of cash versus non-cash awards, or to determine whether or not companies can get the same or more motivation for less money by using non-cash awards," according to the study.
No matter how companies attempt to recognize employees, it seems that something is better than nothing.