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New Workforce

Incentives for a New Workforce

As incentive industry professionals, we are intensely interested in what motivates our audiences to achieve, to attend, to acquire.

Much has been written about designing rewards and programmes that motivate and engage across generations, which is a constant challenge for businesses across all industries looking to cultivate and attract top talent and to compel and retain new and potential customers.

Once upon a time on Wall Street, where I started my tenure in the incentive travel industry, recognition departments had huge budgets that included gift catalogs featuring Burberry, Baccarat, and Rolex, combined with five-star group travel experiences.

Today, we are operating in a new world of tech-savvy consumers accustomed to instant gratification and who covet over-the-top gifts and experiences that are share-worthy across their social networks.

Incentives and rewards don’t always have to sport luxury labels or be the highest-priced option out there. But they do have to be meaningful, shareable, and significant enough to achieve the desired impact.

For some that might be an in-home cooking class with an accomplished chef; for others, dinner inside the Galleria dell’Accademia in Florence under the statue of Michelangelo’s David is the aspirational experience that will engage and motivate.

My top tips for navigating and incentivising today’s workforce include:

1. Provide choice. Celebrate the age of individual access with curated offerings that appeal to both broad generational preferences as well as life stages.

2. Make redemption and participation seamless via the right tech platforms.

3. Elevate offerings to include experiences your audience can’t access on their own.

4. Incorporate meaningful connections via voluntourism, corporate social responsibility, and socially conscious elements.

5. Encourage social media sharing and storytelling. Join the conversation and be sure to re-post and boost the buzz over what your audiences are loving.

Incentivising and rewarding today’s modern workforce requires an adjustment in perspective from a focus on providing “things” to providing experiences that serve a desire for exclusivity, altruism, and yes, share-ability among social channels.

Source : www.meetingsnet.com

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