Lessons from the 2012 Incentive Roundtable

Every year Incentive Magazine brings together experts from the incentive industry to discuss business trends. I was pleased to participate as a panelist this year for Incentives’ 11th Annual Industry Roundtable, along with other leaders in the incentive and recognition industry. 

At the roundtable, the other panelists and I discussed the current state of the incentive industry and where we see the industry going in the future.

One trend I personally see sweeping the industry is the acceleration of immediacy for giving and receiving rewards. In this fast-paced world we live in, both the giver and the program participant expect immediacy in employee recognition and wellness programs via mobile applications – anytime, anywhere:

  • Give a recognition award to an employee right from the train for a job well done.  No need to wait to get back to the office.
  • Track activity points in a wellness program right from the gym, right from their smart phone.
  • Redeem recognition awards or activity points for the merchant of their choice.
  • Expedite the experience by electing to receive an electronic gift card.  The immediacy aspect of an electronic reward is powerful and memorable. The latest IRF study states that 75% of people remember exactly what they got with a gift card. The electronic reward creates an immediate and lasting impression to fuel motivation and engagement.

For more industry trends, check out Incentive Magazine’s series of 2-minute videos showcasing each panelist’s perspective:

To read the entire lively discussion, check out Incentive Magazine’s September issue cover story featuring additional tips from panelists on boosting employee satisfaction and engagement while positively impacting a company’s bottom line.

For more information, take a look at our strategies, process, and resources associated with Employee Recognition Programs.

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