What's keeping executives up at night?... the one common denominator regardless of company size, location or industry is figuring out how to do more with less.
Improving cash flow and profit while simultaneously managing shareholder, customer and employee expectations is the norm.
For many organizations these conflicting demands have created a perfect storm and they are struggling. However, organizations that are excelling have a few things in common: They...
- Look at every investment with the expectation of a return equal to or greater than other investments;
- Demand a holistic incentive and recognition plan, created at the same time as their business plan and marketing plan, with proven ROI/ROO metrics;
- Realize that their most important differentiator is their people and that organizations recognized as the best employers outperform their competition;
- Know that behavioural science and psychology isn't just for the classroom - Maslow's Hierarchy of Needs and Herzberg's Motivator- Hygeine theory are just as relevant today;
- Understand that employee engagement is critically important to customer engagement;
- Believe that great organizations have a strong people culture; and
- Recognize that employee recognition doesn't need to cost anything, yet is extremely powerful
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3 best indicators of company health, according to Jack Welch, are:
Employee engagement first, with customer satisfaction and free cash flow coming in second and third, respectively.
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At Incentive Depot, we can help your organization to improve profit and cash flow thus producing superior results to shareholders/stakeholders while being a "best in class employer" and a market leader, with what we call our "WINning Formula". As with every aspect of success, it takes inspiration, dedication and time. With this in mind, we can help you achieve superior results and we offer 2 ways to work together, with some additional options:
- For a one-time fee, we will review each and every aspect of one incentive or recognition program that you have recently sponsored, are currently sponsoring or are considering in the near term within 30 days of contract, with the focus on ensuring that you are maximizing your investment. AND/OR
- We will work with your team, as a ROI Incentive Consultant, for a term of 3 years to create a holistic incentive plan, tied to your business plan and marketing plan. This is an ongoing partnership that requires regular reviews of results and adjusts the program as necessary to produce a return on investment1.. With this partnership, you pay a retainer for our initial and ongoing analysis and you will pay us a percentage of the net, net incentive plan profit.
Options:
- Many companies state that they are rewards neutral, which basically means that they sell many products at varying margins. After 14 years in the industry we have a very large global network of technology partners as well as suppliers of merchandise rewards, gift cards, stored value cards, experiential rewards, individual incentive travel and promotional products/advertising specialty items; and we can personally organize your meetings, events and group incentive travel programs. We believe so strongly that our value is with our ability to bring you a return, that, with our 3-year engagement package, if you would like us to also provide the rewards and technology components of your program, we will do so ... at our cost.
- As ROI incentive consultant trainers, we can train your team to do the analysis that we do.
For other professionals who recommend and/or sell incentive, recognition and/or performance improvement programs we can work with you to improve your clients' performance:
- If you are a supplier that works directly with end-user clients within the incentive industry (i.e. a DMC, hotel, cruise line, manufacturers rep, distributor, consultant, agency etc.), we can train your staff to provide the ROI/ROO analysis or we can work with you and your clients to do the incentive ROI/ROO analysis
- If you are a commercial banker, VC or accountant, we can train you and/or work with your clients to ensure that they are focussing on building their business by maximizing people performance and by creating programs to build operational efficiencies, market share, profit and cash flow.
If you represent an association, board of trade, chamber of commerce, economic development office, etc. and are looking for a speaker that provides practical and achievable insights to improve the profitability and sustainability of your member organizations.
1. Naturally, it is expected that all executives, managers and influencers in the organization fully cooperate and support the incentive plan to achieve the results. We recognize the dynamics within an organization affect results. Organizations that already have solid relationships with their key people may see results more quickly. Organizations that have personnel, leadership and/or other fundamental issues will likely require more time to see similar results.
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