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"Implement employee incentives? Are you kidding? In this economy?"
"Implement employee incentives? Are you kidding? In this economy?"
"Implement employee incentives? Are you kidding? In this economy?"
"Implement employee incentives? Are you kidding? In this economy?"
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"Implement employee incentives? Are you kidding? In this economy?"

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Incentives are also showing their ability to assist CFO's with health care costs. …

Incentives are also showing their ability to assist CFO's with health care costs.
From Sales to Accounting firms, fostering a culture of recognition and rewards sends a clear, resounding and positive message to all, that certain tasks are critical to the success of your organization. Recognizing your people show them they have an important role in contributing to that success. organization. Recognizing your people show them they have an important role in contributing to that success.

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  • 1. "Implement employee incentives? Are you kidding? In thiseconomy?"During a recent luncheon, I had occasion to chat with the CFO of a regional ,medical organization. Upon learning that I was an incentive consultant sheremarked: "Our employees have a job and get a regular check, isnt thisincentive enough?" I nodded to her in agreement.She was right. No doubt, by todays reasonable standards. Having employmentcan be a premium.However, these are not reasonable times. For starters, the hospital industry.The turnover rate among nurses and sta is alarming. Getting a paycheck staffhasnt changed this fact. The costs to replace and re train new personnel can be as high as 26,000 dollars per re-trainindividual. Implementing a reward and recognition program has proven itself time and time again to retain yourvalued team. (Download our free ebook: Solving the retention issue while boosting personnel performance )Incentives are also showing their ability to assist CFOs with health care costs.From Sales to Accounting firms, fostering a culture of recognition and rewards sends a clear, resounding and positivemessage to all, that certain tasks are critical to the success of your organization. Recognizing your people show themthey have an important role in contributing to that success. Those individuals and teams that understand and meet toor exceed their goals are celebrated.According to a Forbes column entitled: New Research Unlocks the Secret of Employee Recognition A comprehensiveresearch project conducted on employee recognition by Bersin & Associates, a global analyst and H and training HRfirm concluded a companys "thank you" rewards initiative can produce amazing motivation results.Incentive programs can improve workforce wellness, boost sales, employee loyalty, employee ideas, retention,safety. Whatever performance area you want to improve on. If your incentive program is well designed and focused ayou will produce astounding results. Organizations that give regular recognition and rewards to their employees faroutperform those that don’t. The benefits of implementing a engagement and motivation program are clear.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • 2. Is there any wonder there is a $46 billion market for employee engagement and motivation? Some companiesspend between 1-2% of payroll on rewards and recognition. The market is huge and the positive impact on 2%performance is clear.High on the motivation list is employee retention. Rewarding tenure can be as high as 87% of an organizationsincentive budget. "Stick around and youll get rewarded. Hey, not bad. bad."Tenure-based rewards are one area that can influence overall performance because employees that feel valued and basedrecognized will, in almost every case, put for greater effort and stick around. forthTurnover can cost you big bucks!Employee wellness improvement programs is another rising area because employee health can impactperformance. Health stats are surprising. The adult obesity rate in the United States increased from 13 percent in1962 to over 34 percent today.Child obesity has doubled since 1980 and adolescent obesity more than tripling in the same time period. Along withobesity, more and more Americans are suffering from chronic conditions that are a result of poor health and limitedphysical activity. High blood pressure is increasing yearly, with more than 30 percent of people under 55 and 69percent to 82 percent of those over 75 suffering from the condition. With the increase in obesity, the threat of type rcent2 diabetes, along with the No. 1 killer, heart disease, has increased as well [source: CDC].Employee wellness programs have often been viewed as a nice extra, not a strategic imperative. But the data shows viewedotherwise. The ROI on comprehensive, well run employee wellness programs can be as high as 6 to 1. well-runSo why do any of these statistics matter to you and your employees in good shape? Because the poor health ofAmerica can affect insurance premiums and cost businesses and insurance companies billions each year. To give youan idea of the enormity of insurance costs, consider this: The amount Americans spend on health care is four times tyas much as the government spends on national defense [source: National Coalition on Health Care].Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • 3. If you have a group health insurance policy through your employer, the company could be paying a good part of the employer,cost. However, individuals are paying more and more each year as well. In 2006, employer insurance premiumsincreased 7.7 percent, twice the rate of inflation [source: National Coalition on Health Care]. On solution for these Onerising costs is the use of a wellness program. This type of program may be offered by an individual business or by aninsurance company, both with the same primary goal: improve health in order to reduce health care costs.Boosting Sales is another benefit of having an incentive program. Not only rewarding sales themselves but usingincentives as training/education tools. Improve salesforce pr product knowledge, increase sales and resales.Incentive programs are a great way for businesses to reach out to their employees in an appropriate and appreciate tomanner. Employee engagement and motivation helps to improve the livelihood of the business. Everyone is able totake part in the success of the company and feel like they are an integral part of the company and the work whichtakes place inside the company. Morale and performance improves. Improving morale is hardly the only benefit ofimplementing successful incentive programs within the workplace.Whether it is for years of service or a job well done, it is very important to choose a program of incentives that will wellappeal to the multigenerational workers on your team and make them feel important, not convenient. One perfectway to insure this is by providing the widest array of award choices and having a point based onon-line program.The incentives need to be tailored to the particular needs and desires of the individual workplace. If they are not, it is particularpossible to lose money by investing in an unsuccessful and damaging incentive program. When the proper incentiveprogram is put into place, the results will be noticed with ease and workdays will run smoother. workdaysWhen employees are happy and content, they will have a better disposition. Obviously this is helpful for workers content,that are involved with customers since they will be more likely to have patience with the clients and to go the ext extramile in order to ensure a more positive customer relationship. A Modern Medicine article entitled: Do HappyStaff=Happy Patients quotes industrial psychologist Nicholas Lavoff who suggests a direct connection between =Happyemployee/personnel engagement and reward and customer satisfaction.Even better, the morale and disposition of the co co-workers may actually enable them to work better as a team, otogether. This means that when one person needs help, instead of ignoring that individuals problems and makingsure that they look out for themselves, other co workers may chip in and try to help that person, which would allow co-workersthe company to work more as a team which is typically more successful than everyone being concerned on withtheir own well being.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.
  • 4. Incentive programs that include Social Engagement Tools will also enable a company to improve communicationbetween the different co-workers and levels of management. This helps to ensure that when there are workersannouncements, congratulations or any issue, the company as a whole can instantly communicate in a personal andeffective way. Increasing communication capabilities will alway prove beneficial. In addition, co always co-workers may beginto feel more like friends as opposed to individuals that work together and have nothing in common. Many businessowners will even find that it feels good to reward their employees and that it is important not to take workers for importantgranted in any market or in any capacity.Incentive programs are a great way for businesses to reach out to their employees in an appropriate and appreciatemanner. They can help to improve the livelihood of your business as well. Everyone is able to take part in the success well.of the company and feel like they are an integral part of the company and the work which takes place inside thecompany.Whether its a sales improvement program or service awards initiative, your rewards need to be tailored to the needparticular age group/generation that makeup your workforce. enerationEven better, the morale and disposition of the co workers may actually enable them to work better as a team, co-workerstogether. This means that when one person needs help, instead of ignoring that individuals problems and mak makingsure that they look out for themselves, other co workers may chip in and try to help that person, which would allow co-workersthe company to work more as a team which is typically more successful than everyone being concerned on withtheir own well being.So the fact is, in a tight economy sometimes being penny wise can be dollar foolish when it comes to engaging andmotivating your workforce to do their best and improve performance. A motivated workforce will produceperformance results!Many business owners will even find that it feels good to reward their employees and that it is important not to takeworkers for granted in any market or in any capacity.Share This Taico® :: 67 Patterson Village Ct., Bldg F :: Patterson, NY 12563 :: 845 845-228-GIFT (4438) :: fax: 845- -228-5136 :: info@taico.com © 2012 Taico® Incentive Services Inc.

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