This document discusses trends in rewards and recognition programs based on a survey of practitioners and planners. It identifies several key trends:
1) Increased velocity of change and economic volatility require more agile programs that can quickly adapt. Non-traditional programs are better suited for this.
2) Budget pressures are leading to cost-cutting measures like shorter trips, domestic locations, and increased use of gift cards.
3) Mobile technologies are becoming increasingly important as smartphones surpass PCs for many uses. Programs need a mobile presence.
4) Gamification techniques are growing in use to better engage participants through achievements, leaderboards, and rewards.
See PDF for our Q4 2014 Digital Media and Internet market update - an overview on M&A transactions, relevant public equities, and key investments in the space through the Horizon Partners lens.
We take a long-term approach to building relationships. If you'd like to discuss your business or the industry with our team, please reach us at contact@horizonpartners.com"
The document summarizes the key findings of an Oracle survey of 221 e-commerce professionals on trends in the e-commerce industry for 2012. The survey found that most online retailers saw substantial year-over-year growth in key metrics like revenue and traffic in 2011. Mobile emerged as a major focus area, driving both sales and cross-channel integration. However, retailers still struggle with integrating technologies across touchpoints to provide consistent customer experiences. For 2012, retailers planned to focus investments on improving the customer experience, expanding mobile capabilities, and upgrading their commerce platforms.
This document summarizes key findings from the 2019 Digital Trends report produced by Econsultancy in partnership with Adobe. Some of the main points include:
1) Only 10% of responding companies regard themselves as very advanced at customer experience (CX), and the same percentage describe themselves as 'digital-first'. CX leaders are almost three times more likely to have exceeded their top 2018 business goal compared to other companies.
2) The importance of customer data is a dominant theme, with companies focusing on data-driven marketing and personalization. Marketers expect better use of data to be a top priority in 2019.
3) Companies are seeking greater control and ownership of their data due to concerns about privacy and
'Anatomy of Effectiveness’ is a white paper for brand marketers and advertising agencies alike, highlighting five key priorities for brands seeking greater impact. It will change the way brands and agencies market and will drive better consumer engagement.
The document discusses a study conducted by MIT Technology Review Insights on how companies are using artificial intelligence (AI) to enhance customer experience. The study was based on a survey of 599 customer experience executives across 18 countries and industries. It found that most companies have adopted AI across the customer journey to improve efficiency and gain a deeper understanding of customers. Companies that implemented AI earliest are seeing the biggest rewards in efficiency, customer satisfaction, and revenue gains. The report also examines regional differences in AI adoption and investment drivers.
North America Consumer Home Equity Loan Survey - Highlightsaccenture
The document summarizes findings from a survey of 6,000 consumers on home equity lending in North America. It finds that the home equity lending market is resurging, with $4.5 trillion in total home equity and $1 trillion increase in equity in the past year. However, many borrowers are uninformed about their home equity loan options, and digital and alternative lenders are gaining market share from the largest banks. The document outlines opportunities and challenges for lenders in the home equity lending space.
Financial Marketing Trends Report (2019)Goodbuzz Inc.
Financial marketers are moving beyond brand-building to focus on acquiring new customers and members, increasing engagement and enhancing lifetime value while reducing churn. By connecting data, advanced analytics and marketing automation tools, marketers are focused on the customer journey and improving the customer experience.
See PDF for our Q4 2014 Digital Media and Internet market update - an overview on M&A transactions, relevant public equities, and key investments in the space through the Horizon Partners lens.
We take a long-term approach to building relationships. If you'd like to discuss your business or the industry with our team, please reach us at contact@horizonpartners.com"
The document summarizes the key findings of an Oracle survey of 221 e-commerce professionals on trends in the e-commerce industry for 2012. The survey found that most online retailers saw substantial year-over-year growth in key metrics like revenue and traffic in 2011. Mobile emerged as a major focus area, driving both sales and cross-channel integration. However, retailers still struggle with integrating technologies across touchpoints to provide consistent customer experiences. For 2012, retailers planned to focus investments on improving the customer experience, expanding mobile capabilities, and upgrading their commerce platforms.
This document summarizes key findings from the 2019 Digital Trends report produced by Econsultancy in partnership with Adobe. Some of the main points include:
1) Only 10% of responding companies regard themselves as very advanced at customer experience (CX), and the same percentage describe themselves as 'digital-first'. CX leaders are almost three times more likely to have exceeded their top 2018 business goal compared to other companies.
2) The importance of customer data is a dominant theme, with companies focusing on data-driven marketing and personalization. Marketers expect better use of data to be a top priority in 2019.
3) Companies are seeking greater control and ownership of their data due to concerns about privacy and
'Anatomy of Effectiveness’ is a white paper for brand marketers and advertising agencies alike, highlighting five key priorities for brands seeking greater impact. It will change the way brands and agencies market and will drive better consumer engagement.
The document discusses a study conducted by MIT Technology Review Insights on how companies are using artificial intelligence (AI) to enhance customer experience. The study was based on a survey of 599 customer experience executives across 18 countries and industries. It found that most companies have adopted AI across the customer journey to improve efficiency and gain a deeper understanding of customers. Companies that implemented AI earliest are seeing the biggest rewards in efficiency, customer satisfaction, and revenue gains. The report also examines regional differences in AI adoption and investment drivers.
North America Consumer Home Equity Loan Survey - Highlightsaccenture
The document summarizes findings from a survey of 6,000 consumers on home equity lending in North America. It finds that the home equity lending market is resurging, with $4.5 trillion in total home equity and $1 trillion increase in equity in the past year. However, many borrowers are uninformed about their home equity loan options, and digital and alternative lenders are gaining market share from the largest banks. The document outlines opportunities and challenges for lenders in the home equity lending space.
Financial Marketing Trends Report (2019)Goodbuzz Inc.
Financial marketers are moving beyond brand-building to focus on acquiring new customers and members, increasing engagement and enhancing lifetime value while reducing churn. By connecting data, advanced analytics and marketing automation tools, marketers are focused on the customer journey and improving the customer experience.
Strategies to Help CPG Companies Win in Chinaaccenture
Accenture’s latest study reveals consumer insights and strategies that can help accelerate growth for CPG companies and Retailers in China.
The profit rates of CPG companies have been declining in China recently, but by understanding the changing Chinese consumer, and adjusting their strategies to best serve consumer needs, CPG companies can drive growth in the country.
For more information view us on http://www.accenture.com/ConsumerGoods
CMOs: Time for digital transformation or risk being left on the sidelinesruttens.com
CMOs: Time for digital transformation or risk being left on the sidelines. Digital Transformation checklist for marketeers.
Based on the Accenture Interactive 2014 CMO Insights Survey, CMOs are selling themselves short. The question isn't whether CMOs can effectively take advantage of digital channels – they are proving they can – but whether they can be more visible change agents for digital transformation across the organization.
As every business becomes a digital business, C-suite executives will need to collaborate to drive successful digital transformation. No CMO wants to be left on the sidelines.
Taking friction out of banking white paper - UKNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Loyalty Deciphered — How Emotions Drive Genuine EngagementCapgemini
Current loyalty approaches are broken. Brands spend billions on loyalty programs but fail to increase customer engagement. Our previous research showed that 90% of consumers have a negative perception of loyalty programs. In addition, over half (54%) of loyalty memberships have fallen inactive and over a quarter of consumers (28%) abandon loyalty programs without redeeming any points.
Many of today’s loyalty programs attempt to buy consumer loyalty through monetary rewards. The consumer might receive discounts or vouchers and, in return, organizations expect them to spend more or give up their data. Many organizations run these sorts of programs and achieve what looks like loyalty, at least on the surface.
But what does it really mean for a consumer to be loyal to a brand?
To uncover the true drivers of loyalty, we undertook a worldwide, cross-sector research program. We broadened our perspective—exploring beyond the mechanical and rational drivers associated with conventional loyalty programs. We explored loyalty from an emotional perspective to identify the drivers that brands can harness to build meaningful loyalty with consumers. We surveyed over 9,000 consumers and 500 executives, and we spoke to leading academics in the field. The Research Methodology at the end of this report provides further details.
We found that emotions play a far greater role in creating true loyalty than current approaches recognize. In this report we:
Explore how emotions are the main driver of loyalty.
Understand who emotionally engaged consumers are and what motivates them.
Assess the size of the prize for organizations with emotionally engaged consumers.
Recommend strategies for how organizations can make better emotional connections with consumers.
A New Vision For Payments In Financial ServicesPenn Mutual
Financial service companies are under growing pressure from a seismic shift in consumer adoption and usage of smartphones/tables and social media driven by technology. This has opened the door for new and innovative competitors to challenge banks and financial services companies for market share in traditional banking services. Globally, millennials and consumers in general are rapidly adopting mobile payments as a primary method to move money. The lessons are the same regardless of industry - adapt, innovate, and engage or risk losing relevancy and market share. Learn how these trends are unfolding and how companies can respond to them.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Taking friction out of banking white paper - USNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the "give-to-get" ratio and solve the customer trust equation, our recent research reveals.
Fixing the Cracks: Reinventing Loyalty Programs for the Digital AgeCapgemini
Launching a loyalty program is expensive and it’s complex. In the US alone, companies spend a staggering $2 billion on loyalty programs every year. But does this translate into increased customer engagement? Research suggests the answer is “probably not”. The average household in the US has over 21 loyalty program memberships. But, the household only actively uses 44% of these. More than half of consumers in a 2013 survey admitted they had abandoned at least one loyalty program in the past year. Our own analysis of customer sentiment on social media revealed pronounced dissatisfaction. Almost 90% of social media sentiment on loyalty programs was negative.
We assessed loyalty programs on a number of parameters. These included their central objective, their use of digital channels, and their ability to provide a seamless experience across channels (more detail on the approach is at the end of this paper). We found, in short, that companies have a lot of catching up to do. 97% of loyalty programs rely on transactional rewards, i.e. a customer makes a purchase and takes their points in exchange for gifts, merchandise or cash. The issue is that 77% of those transaction-based programs actually fail in the first two years. According to our research, only 25% of loyalty programs reward customers for some form of engagement. Where loyalty programs are also lacking is advanced personalization: only 11% of loyalty programs offer personalized rewards based on a customer’s purchase history or location data.
This research highlights why organizations need to think beyond points and how they can implement well-designed, engagement-based loyalty programs.
The New Creatives Report - Creative ProfessionalsAdobe
These are the findings from an Adobe-commissioned U.S. survey of more than 1,000 creative professionals and 500 students in creative disciplines. The study provides insights into the attitudes and beliefs of the creative vanguard – including graphic designers, illustrators, Web designers, photographers and video professionals – about the future of the creative industry.
See "The New Creatives Report June 2014 - Student Findings" for deeper details on what the students had to say about the future of the creative industry: http://slidesha.re/1nf3okd
The document discusses the importance of digital leadership for businesses. It provides an overview of digital trends like increasing internet, social media, and mobile phone penetration. Consumers now expect personalized, seamless experiences across online and offline channels. The document then outlines several of globeone's tools to help companies evaluate their digital performance and consumer journeys. It emphasizes the need to define digital objectives and understand a brand's digital ecosystem to develop successful strategies.
Trends in Digital Advertising in North America. Presentation covers overall market trends, industry wise trends and top technology trends.
Data compiled from various sources over the internet.
Improving the Efficacy of Root Cause AnalysisCognizant
When medical device organizations apply a relevant and appropriate level of automation to root cause analysis, they can ensure swift action on nonconformities and avoid issue reoccurrence.
2019 Digital Trends Financial ServicesJames Brophy
The 2019 Digital Trends: Financial Services in Focus report is a barometer of the extent to which financial services and insurance organisations are embracing digital technology, and how they are focusing their strategies and prioritising resources for the year ahead and beyond.
"Ready or Not, Here Comes 2015: Marketing Trends to Master" TrendLab WebinarBluespire Marketing
During this BlueSpire TrendLab Webinar, our senior living, healthcare and financial services experts dive into the most relevant marketing trends and analyze what to look for in 2015.
Main themes of the webinar included:
•What global trends will have the most impact next year and how those trends will affect brand building and the overall customer experience.
•Changes in marketing staffing and spending, what should be on your radar regarding big data and analytics, and the importance of Web personalization.
• Effectiveness of branded videos, the accelerating trend of sharable and snackable content, and mapping content appropriately to your consumer’s journey.
2015 investor digital and social media surveyBrunswick Group
Brunswick Group releases findings of its fifth global investor survey, which tracks the changing trends in how investors use digital media.
Key highlights from this year’s survey include:
• Influence of information direct from companies continues to increase
• Of digital media, blogs and presentation sharing cited as most influential
For more information please contact:
Jason Golz: www.brunswickgroup.com/people/directory/jason-golz/
Sparky Zivin: www.brunswickgroup.com/people/directory/sparky-zivin/
89% of consumers switch to a competitor after a poor CX Abhishek Sood
89% of consumers switch to a competitor following a poor customer experience, according to an Oracle study. But how can you use digital technology to improve your customers' experience?
Uncover how several prominent businesses embraced digital technologies to retain customers and increase profits. For example, Domino's Pizza had a 23% growth in profit after it allowed customers to track their deliveries online.
Discover the 4 factors that can make a digital transformation project profitable and worthwhile.
[Report] Indian Marketers are Ready to Adopt and Integrate Digital Marketing ...Social Samosa
Adobe released the second annual Adobe APAC Digital Marketing Performance Dashboard, in partnership with Adobe. A six-month in-field program comprising quantitative and qualitative surveys, the study benchmarked the levels of adoption, traction and success of digital marketing
Strategies to Help CPG Companies Win in Chinaaccenture
Accenture’s latest study reveals consumer insights and strategies that can help accelerate growth for CPG companies and Retailers in China.
The profit rates of CPG companies have been declining in China recently, but by understanding the changing Chinese consumer, and adjusting their strategies to best serve consumer needs, CPG companies can drive growth in the country.
For more information view us on http://www.accenture.com/ConsumerGoods
CMOs: Time for digital transformation or risk being left on the sidelinesruttens.com
CMOs: Time for digital transformation or risk being left on the sidelines. Digital Transformation checklist for marketeers.
Based on the Accenture Interactive 2014 CMO Insights Survey, CMOs are selling themselves short. The question isn't whether CMOs can effectively take advantage of digital channels – they are proving they can – but whether they can be more visible change agents for digital transformation across the organization.
As every business becomes a digital business, C-suite executives will need to collaborate to drive successful digital transformation. No CMO wants to be left on the sidelines.
Taking friction out of banking white paper - UKNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Loyalty Deciphered — How Emotions Drive Genuine EngagementCapgemini
Current loyalty approaches are broken. Brands spend billions on loyalty programs but fail to increase customer engagement. Our previous research showed that 90% of consumers have a negative perception of loyalty programs. In addition, over half (54%) of loyalty memberships have fallen inactive and over a quarter of consumers (28%) abandon loyalty programs without redeeming any points.
Many of today’s loyalty programs attempt to buy consumer loyalty through monetary rewards. The consumer might receive discounts or vouchers and, in return, organizations expect them to spend more or give up their data. Many organizations run these sorts of programs and achieve what looks like loyalty, at least on the surface.
But what does it really mean for a consumer to be loyal to a brand?
To uncover the true drivers of loyalty, we undertook a worldwide, cross-sector research program. We broadened our perspective—exploring beyond the mechanical and rational drivers associated with conventional loyalty programs. We explored loyalty from an emotional perspective to identify the drivers that brands can harness to build meaningful loyalty with consumers. We surveyed over 9,000 consumers and 500 executives, and we spoke to leading academics in the field. The Research Methodology at the end of this report provides further details.
We found that emotions play a far greater role in creating true loyalty than current approaches recognize. In this report we:
Explore how emotions are the main driver of loyalty.
Understand who emotionally engaged consumers are and what motivates them.
Assess the size of the prize for organizations with emotionally engaged consumers.
Recommend strategies for how organizations can make better emotional connections with consumers.
A New Vision For Payments In Financial ServicesPenn Mutual
Financial service companies are under growing pressure from a seismic shift in consumer adoption and usage of smartphones/tables and social media driven by technology. This has opened the door for new and innovative competitors to challenge banks and financial services companies for market share in traditional banking services. Globally, millennials and consumers in general are rapidly adopting mobile payments as a primary method to move money. The lessons are the same regardless of industry - adapt, innovate, and engage or risk losing relevancy and market share. Learn how these trends are unfolding and how companies can respond to them.
Software is having an impact on everyone’s lives and we’re fascinated by its effect on user behavior. Building on our existing financial sector expertise, Beyond wanted to fully understand how people’s behavior is changing in one of the world’s oldest industries and what this change means for the future design of products and services in banking.
Taking friction out of banking white paper - USNils Mork-Ulnes
In our white paper, ‘Taking the friction out of banking’ we research the threat from disruptive FinTech start-ups and look into designing for banking innovation with a focus on improving the digital experience for increasingly digitally-focused consumers.
Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the "give-to-get" ratio and solve the customer trust equation, our recent research reveals.
Fixing the Cracks: Reinventing Loyalty Programs for the Digital AgeCapgemini
Launching a loyalty program is expensive and it’s complex. In the US alone, companies spend a staggering $2 billion on loyalty programs every year. But does this translate into increased customer engagement? Research suggests the answer is “probably not”. The average household in the US has over 21 loyalty program memberships. But, the household only actively uses 44% of these. More than half of consumers in a 2013 survey admitted they had abandoned at least one loyalty program in the past year. Our own analysis of customer sentiment on social media revealed pronounced dissatisfaction. Almost 90% of social media sentiment on loyalty programs was negative.
We assessed loyalty programs on a number of parameters. These included their central objective, their use of digital channels, and their ability to provide a seamless experience across channels (more detail on the approach is at the end of this paper). We found, in short, that companies have a lot of catching up to do. 97% of loyalty programs rely on transactional rewards, i.e. a customer makes a purchase and takes their points in exchange for gifts, merchandise or cash. The issue is that 77% of those transaction-based programs actually fail in the first two years. According to our research, only 25% of loyalty programs reward customers for some form of engagement. Where loyalty programs are also lacking is advanced personalization: only 11% of loyalty programs offer personalized rewards based on a customer’s purchase history or location data.
This research highlights why organizations need to think beyond points and how they can implement well-designed, engagement-based loyalty programs.
The New Creatives Report - Creative ProfessionalsAdobe
These are the findings from an Adobe-commissioned U.S. survey of more than 1,000 creative professionals and 500 students in creative disciplines. The study provides insights into the attitudes and beliefs of the creative vanguard – including graphic designers, illustrators, Web designers, photographers and video professionals – about the future of the creative industry.
See "The New Creatives Report June 2014 - Student Findings" for deeper details on what the students had to say about the future of the creative industry: http://slidesha.re/1nf3okd
The document discusses the importance of digital leadership for businesses. It provides an overview of digital trends like increasing internet, social media, and mobile phone penetration. Consumers now expect personalized, seamless experiences across online and offline channels. The document then outlines several of globeone's tools to help companies evaluate their digital performance and consumer journeys. It emphasizes the need to define digital objectives and understand a brand's digital ecosystem to develop successful strategies.
Trends in Digital Advertising in North America. Presentation covers overall market trends, industry wise trends and top technology trends.
Data compiled from various sources over the internet.
Improving the Efficacy of Root Cause AnalysisCognizant
When medical device organizations apply a relevant and appropriate level of automation to root cause analysis, they can ensure swift action on nonconformities and avoid issue reoccurrence.
2019 Digital Trends Financial ServicesJames Brophy
The 2019 Digital Trends: Financial Services in Focus report is a barometer of the extent to which financial services and insurance organisations are embracing digital technology, and how they are focusing their strategies and prioritising resources for the year ahead and beyond.
"Ready or Not, Here Comes 2015: Marketing Trends to Master" TrendLab WebinarBluespire Marketing
During this BlueSpire TrendLab Webinar, our senior living, healthcare and financial services experts dive into the most relevant marketing trends and analyze what to look for in 2015.
Main themes of the webinar included:
•What global trends will have the most impact next year and how those trends will affect brand building and the overall customer experience.
•Changes in marketing staffing and spending, what should be on your radar regarding big data and analytics, and the importance of Web personalization.
• Effectiveness of branded videos, the accelerating trend of sharable and snackable content, and mapping content appropriately to your consumer’s journey.
2015 investor digital and social media surveyBrunswick Group
Brunswick Group releases findings of its fifth global investor survey, which tracks the changing trends in how investors use digital media.
Key highlights from this year’s survey include:
• Influence of information direct from companies continues to increase
• Of digital media, blogs and presentation sharing cited as most influential
For more information please contact:
Jason Golz: www.brunswickgroup.com/people/directory/jason-golz/
Sparky Zivin: www.brunswickgroup.com/people/directory/sparky-zivin/
89% of consumers switch to a competitor after a poor CX Abhishek Sood
89% of consumers switch to a competitor following a poor customer experience, according to an Oracle study. But how can you use digital technology to improve your customers' experience?
Uncover how several prominent businesses embraced digital technologies to retain customers and increase profits. For example, Domino's Pizza had a 23% growth in profit after it allowed customers to track their deliveries online.
Discover the 4 factors that can make a digital transformation project profitable and worthwhile.
[Report] Indian Marketers are Ready to Adopt and Integrate Digital Marketing ...Social Samosa
Adobe released the second annual Adobe APAC Digital Marketing Performance Dashboard, in partnership with Adobe. A six-month in-field program comprising quantitative and qualitative surveys, the study benchmarked the levels of adoption, traction and success of digital marketing
The Work Ahead in Banking & Financial Services: The Digital Road to Financial...Cognizant
Banking and financial services organizations are moving beyond the basics of digital banking and one-size-fits-all services, according to our recent study. Using AI, automation and analytics, they aim to speed processes, blend human-centric and tech-driven customer engagement and deliver personalized financial wellness.
What does 2015 hold for travel management? As the
latest survey* from Carlson Wagonlit Travel (CWT) shows,
travel and meetings and events professionals have their
fingers on the pulse of industry trends and intend to
prioritize action in every area of the managed travel
process. This report presents the top trends and priorities
revealed in the survey, organized around five steps of
the travel continuum.
Big data emerged as the top priority and key challenge for loyalty professionals surveyed according to a Flightglobal survey. Mobile technology was the second biggest trend, with professionals feeling current programs are static and need to engage customers more via mobile. Revenue-based loyalty programs were also a trend, with opinions divided on whether they will threaten frequent flyer programs or provide more transparency and opportunities.
Digital Transformation of U.S. Private BankingCognizant
U.S. private banks need to rethink their business models and accelerate their push to meet the ever-rising expectations of digitally savvy high-net-worth clients.
Technology and digital transformation continue to be
central to the futuristic design and vision for finance.
Across industries and sectors, technologies such as
advanced data analytics, robotics, blockchain and
Artificial Intelligence (AI) are creating new opportunities
and driving finance transformation
The 2016 State of Digital Transformation - Altimeter42medien
CX remains the top driver of digital transformation, but IT and marketing still influence technology investments (even without fully understanding customer behaviors and expectations).
Only half (54%) of survey respondents have completely mapped out the customer journey within the last year or are in the process of doing so.
A mere 20% of digital transformation leaders are studying the mobile customer journey and/or designing for real-time “micro moments” in addition to customer journey work.
Financial planning and analysis (FP&A) functions are at the forefront of guiding organizational performance and supporting the decision-making process. Over the years, the challenges faced by management have required different planning approaches and techniques. Some have stayed and become ‘the norm’, for example driver-based planning. Yet, at the same time, the technological systems that underpin FP&A’s work have been constantly evolving to support faster decision-making, more scenarios and increasing volumes of data.
The document discusses the key findings of the Accenture CIO Mobility Survey 2013 regarding enterprise adoption of mobility technologies. Some of the main points include:
- Mobility is a top priority for many CIOs, with one-third citing it as a top-two priority and 75% among their top five. Investment in mobility is increasing.
- Companies are developing centralized mobile strategies and see mobility as crucial to engaging customers and driving revenue. They plan to use it to optimize processes and user experience.
- Adoption is driven by the need to improve customer service, sales cycles and transactions through mobile apps and data access. Emerging markets and industries like retail and utilities show strong commitment to mobility.
The Upwardly mobile enterprise 2014_03_05_5616_Summary_Powerpoint_Deck_The_Kirsty Simpson
The document summarizes a study conducted by IBM on developing mobile strategies for enterprises. It describes conducting an online survey of over 600 global respondents and 30 interviews. It then discusses defining "mobile strategy leaders" as those with a well-defined mobile strategy aligned to business strategy and with executive oversight. The document advocates that to compete effectively, companies recognize the need for a leading mobile strategy and governance structure to oversee mobile initiatives.
The document discusses trends observed by Societe Generale's COVID-19 Trends Observatory. It covers several topics:
1) Increased digital adoption by customers and new remote working trends for businesses during the pandemic.
2) Acceleration of conversational technologies like chatbots and voice assistants to interact with customers as social distancing continues.
3) Digital is expected to play a prominent role in commercial and corporate banking post-crisis recovery, with increased focus on digitizing processes like cash management, trade finance and loan origination. Banks that can quickly implement good quality digital customer journeys will gain an advantage.
Global transaction-banking-the-1-trillion-dollar-questionbalajimuthu10
Global transaction banking (GTB) generates around $1 trillion in annual revenues. While GTB has traditionally been a stable business, it now faces challenges from low interest rates, regulations, and increasing customer expectations of digital services. To adapt, GTB banks are investing heavily in digital capabilities, customer experience, and platform innovation. Looking forward, liquidity management, documentary trade, and supply-chain finance are seen as the top growth drivers, with payments and trade finance also remaining important. GTB banks must make strategic technology and organizational changes to navigate an increasingly competitive landscape.
A new study on development organizations’ use of Mobile Money Bulk Payment Products carried out by NetHope. The report, based on qualitative and quantitative research, highlights a desire to move away from cash; usage of mobile money bulk payments; preferences and recommendations for design features of the products; and the estimated volume and value of this market segment.
The document summarizes key findings from a survey of 332 professionals regarding enterprise mobility programs. Some of the main findings include:
- More than 1/3 of programs are rolling out apps to over 5,000 users, while another 1/3 are rolling out to under 1,000 users.
- Improved business processes and increased user satisfaction were the top benefits sought from mobility investments.
- Productivity apps and field service apps were seen as having the greatest impact on productivity and ROI.
- Security was the top challenge cited, followed by determining ROI and lack of budget.
- Over half of respondents had little or no visibility into important app usage metrics.
- Developing apps for core business processes and improving
Back to the Future: Four Marketing Tactics Essential to Your Success in 2013MarketingProfs
Want to boost your marketing efforts in 2013? To help you, MarketingProfs put together four info-packed articles highlighting essential marketing tactics.
Similar to Reward recognition-trends for businesses (20)
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
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Reward recognition-trends for businesses
1. Important Research For Incentive Program
Practitioners and Planners
2012 Trends in Rewards
& Recognition
1. Change on Steroids
Velocity of Change and Volatility
At the IRF Education symposium (October of 2011),
a continuing conversation topic
of change in today’s ‘new economy.’ As one group
summarized,
in volume and velocity.”
It’s an insight consistent with recent IRF Pulse Survey
findings. In the spring of 2011, 25% of respondents
said the economy has had a negative effect on
planning and implementing travel incentive programs.
Several months later, 62% said that the economy
would have a negative impact. Likewise, a McKinsey
survey of over 2200 senior managers worldwide
indicated lagging consumer demand and volatility as
the primary barriers to growth.i In short, market
unpredictability and political uncertainty make
economic forecasting difficult.
But change is clearly in the air. According to
McKinsey, the next few years will be ripe with “big
data” explosions of information that are poised to
transform business processes, corporate ecosystems,
and approaches to innovation. All told, massive
changes are coming in how business is done and how
companies approach human capital. An example is
‘Fast HRii, which encourages throwing out standard
tools in favor of more expeditious methods to direct,
focus, and energize employees.
Take Aways
Non-traditional reward programs are congruent with
the ‘Fast HR’ movement in that recalibration is easier
and involves fewer legal issues than do standard
compensation components. In fact, one executive
sponsor of the IRF’s recently released ‘Top-
Performer Recognition Travel Case Study’ cited these
same reasons as central to his support of the program.
had to do with the rate
“The biggest change, is the rate of change,
2. Today’s C-suite has greater appreciation for the
broader utility of non-cash reward and recognition
programs. On the planning side, travel program
owners have reported faster ramp-up cycles in
keeping events relevant (55%), and frequently use
hybrid and virtual formats (53%) to keep programs
fresh, cost-effective and compelling business
motivatorsiii. Moving forward, program owners
should:
• Expect decision making to be pushed up the
chain of command with frequent and abrupt
changes in strategy to accommodate shifts in
business strategy.
• Focus more on subjective "above and beyond
Page 2 of 16
behaviors”
• More greatly acknowledge performers who are
adaptable, collaborative and innovative within
reward and recognition earning structures
Today’s environment is also having an impact on the
types of rewards being offered. As the economy
fluctuates, personal desires and perceptions of value
change. This makes the sourcing and promotion of
non-cash awards ever more complicated, so clearly
seen in 2007-2009 when incentive travel was
perceived as “extravagant.”
The unresolved global governmental debt
environment creates volatility in financial markets,
and thus is reflected in the business environment,
something of which program managers operating
travel programs are distinctly aware. “Belt
Tightening” in some countries is causing service
disruptions, with citizens challenging governmental
actions in response. Continuing tensions in the
Middle East make it highly important to factor in
financial, travel, and “anxiety levels” in their back-up
plans.
2. The Continuing “New
Normal”
Budgetary Pessimism
In the IRF Fall 2011 Pulse Survey, 62% of
respondents believed economic conditions would
continue to have a negative impact on travel programs
in 2012; the percentage of respondents believing this
hasn’t been this high since July 2008.
McKinsey found similar results: Only 1 in 4 senior
managers worldwide expect the global economy to
get better in 2012.iv A key reason for the pessimism
can be traced to what FutureTrends calls “Discount
Fever“ – the desire for deeper price cuts offered by
sites such as GroupOn.com and MadBid.com. These
“demand aggregators” have followed the lead of
Travelzoo, by offering products and services related
to the travel market. Such price pressures now cover
the expanse of the consumer experience
(merchandise, services, and travel) and will continue
to drive “per item” forecasts downward.
Coupled with economic uncertainties, (on personal
and organizational levels), a drive to reduce costs is
also apparent in IRF Polls. Our Fall 2011 Pulse Study
revealed that many incentive travel planners will be
3. providing funding only for air tickets and not
incidentals.v The Pulse Study also shows that:
• Locations closer to home are being selected (83%
Page 3 of 16
provide one or more programs here in the U.S.
and 55% in the Caribbean)
• Per-person spending for incentive group travel
fell for the third straight year to an average of
$2,603 vi
Take Aways
A recent CMI/IRF study showed that program owners
with constrained 2012 budgets will be making
adjustments by:
• Cutting back on gifts
• Shortening trip length
• Booking “off season”
• Moving to North American or Caribbean
destinations
Over 40% of respondents reported using individual
travel incentives, most likely supported by the lower
per-person average price ($2,105) and reduced
administration.vii In addition, budget pressures are
making program managers more willing to:
• Allow individuals to do their own discount
shopping
• Use gift cards more frequently for reward and
recognition programs.
Over 60% of program owners are using gift cards in
some mannerviii—cited by poll respondents as one of
the primary changes occurring in 2012.ix This trend
has implications for the incentive industry regarding
how non-cash awards are applied and perceived.
Key questions to ask yourself include:
• How do gift cards provide trophy value
attribution to the sponsoring organization?
• Do they offer the ability to track what the
recipient selects?
We’re operating during a time of historic change.
Non-cash awards need to be understood by the
industry as gift cards continue to replace other award
types.
3. Tech Rules
Mobile Uprising
There are 4.6 billion mobile users globally, and 1.7
billion Internet usersx. Nearly 50% of all U.S. online
consumers are now advanced users of smartphones,
social networks, and other emerging tools—up from
32% in 2008.xi
4. why smartphones are now becoming the primary
device in use. We choose them for
browsing, and product research. Salespeople who are
professionally mobile are especially dependent on
them.
According to McKinsey, 33% of all smartphone
owners now prefer using them for Web browsing or
e-mail—even when their PCs are nearby. In addition,
as more than 50% of mobile applications switch to the
next generation base website code (i.e., HTML5), the
functional differences between mobile devices and
their non-mobile counterparts are becoming
negligible.xii
This technology movement is occurring at a time of
cultural shift: Today, 1 in 10 Americans are between
the ages of 18 and 24xiii and are considered to be
digital natives—people who have owned digital
devices throughout much of their lives and use them
as much as six hours a dayxiv.
Page 4 of 16
Take Aways
Better product pipelines, faster processing, and whole
generations of native mobile users now in the
workforce makes integrating mobile applications a
necessity. Third-party sources (such as AppMakr,
GenWi, BiznessApps) make it unnecessary to shell out
big dollars or time to create mobile applications:
Third party sources can do it in minutes for little to no
cost.
Most incentive and recognition planners seem to
understand this. A recent IRF/CMI poll showed that
more than 1 in 10 incentive planners are now using a
mobile or tablet application to display program
progress or to enhance attendee experiences onsite.
An additional 35% of planners will be adding one or
more of these mobile features within the next year.
If your incentive or recognition program does not yet
augment the core program with some level of mobile
representation, 2012 may be the year to start. While
mobile apps are a key trend, there is an ever-increasing
technology wave impacting business and
the incentive industry in the form of QR codes, social
media, instant access 24/7, and others. These
technologies have become “expected,” making it
important for program managers and sponsors to
continually evolve their programs and technology
offerings.
Of course, with greater use of mobile technology
comes the greater need for balancing security issues—
an obviously important consideration businesses
cannot afford to risk.
Network speeds are getting faster (now up to 4g).
Phones have increased processing power and better
user experience. Taken together, it’s easy to see
e-mail, web
5. Page 5 of 16
4. Game-On
Gamification
In January 2011, the first conference on Gamification
(the use of gaming techniques to solve problems and
engage audiencesxv) was held in San Francisco.
Although the general theories and applications
surrounding gaming approaches are not new to
education and learning,xvi it is a relatively new
concept to the world of incentive design—but not for
long.
In 2011, Gamification was covered in multiple
business publications that include BusinessWeek and
the Harvard Business Reviewxvii. In fact, Gartner
Group predicts that by 2015, half of all managed
innovation processes will include game mechanics,
and that by 2014, 70% of all the Global 2000
organizations will have at least one “gamified
application” in place.xviii
In sum, game mechanics are the proverbial ‘three
legged’ stool of technology trends (supported by
mobile and social). The essence of gamification
includes many constructs already used in incentive
programs such as achievement levels, leaders’ boards,
progress bars, rewards, recognition, etc. Additional
techniques include everything from installing virtual
currencies, to direct challenges between users, to
embedded casual games. Most importantly, these
techniques encourage designers to ensure that any
challenge that is presented is mapped directly to the
capabilities and the unique skills of those playing.
Take Aways
Increasingly, consumers and employees expect an
experience that reflects their own engagement and
workflow. At a minimum, program managers should
review the achievements required for all reward and
recognition programs to ensure their target audiences
have been given ample resources and training to
achieve the required level of performance.
A recent IRF/CMI poll found that 1 in 5 incentive
planners is either currently taking advantage of game
mechanics on their incentive sites, or plan to do so
within the next year. Planners involved in incentive
travel and meetings should also know these principles
apply to events as well.
In October of 2011, Dell hired an outside organization
to assist with adding gamification principles to its
primary customer event, Dell World Conference. In
the end, Dell rewarded attendees with points and
badges for downloading content, attending events,
and even networking. xix
6. Page 6 of 16
5. Proof Positive
- Increased Scientific and
Management Support
One of the biggest trends
acceptance of non-cash compensation within both
science and the C-suite. Practitioners have long held
the use of non-cash reward and recognition in high
regard, with a wide variety of scholarly texts
providing justification. Today, a new wave of
respected thought leaders that include McKinsey,
Harvard Business Review, PricewaterhouseCoopers
and Aberdeen acknowledge the effectiveness and/or
strategic business value of non-cash components.
In another example, Employee Motivation: a Powerful
New Model, Nohria and Groysberg (Harvard Business
School), argue that to “motivate workers to peak
performance, an organization must meet an
employee’s emotional needs.” Combining the work of
neuroscience, biology and the results of several
surveys, the authors developed a model that explains
the variance in such indices as an organization’s
employee engagement, satisfaction, commitment
and/or intent to leave.
systems in place—to reinforce good performance and
sustain cultures that support collaboration and
openness—outperform those organizations that don’t
have reward systems. Offering more meaningful and
challenging work, along with a performance
management process that is transparent and
trustworthy, will be the key to attracting and retaining
talent in the future. Organizations that blend
emotional and financial elements into their
compensation mix will be in a better position to
attract and keep top talent.xx
In Motivating People; Getting Beyond Money
(McKinsey) the authors assert that it’s “time to
challenge traditional management wisdoms that it is
money that really counts.” Their research points to
“non-cash motivators (including praise from
immediate managers) as being more effective
motivators than the three highest-rated financial
incentives (i.e., cash bonuses, increased base pay, and
stock options).” They further suggested that, “non-monetary
compensation can maximize effectiveness
in aligning the goals of the organization with the
priorities of its people.”xxi
In PricewaterhouseCoopers 14th Annual CEO Survey,
“using more non-financial rewards to motivate staff”
was the biggest change top executives planned to
make in the upcoming year to their people strategies.
In fact, 47% of CEOs responding said they would
make some change in this direction, while 18% said
they would make significant change.xxii
has to do with the growing
As one example, Aberdeen’s annual Sales Performance
Management Study highlighted that best in class
organizations—those which out-performed rivals across
all major financial categories—are more than twice as
likely as all other firms to provide non-cash incentives.
Specifically, 21% of the best in class organizations used
R&R programs; only 10% of the non-best in class
organizations used them.
These studies show that organizations which have reward
7. Page 7 of 16
Take Aways
Greater acceptance of non-cash is good news for the
incentive and recognition space; however, it also
poses a challenge.
Although not all executives are convinced about the
role of non-cash in the compensation mix, they’re
gaining interest and are more willing to listen than
ever. That means program owners have a great
opportunity to make their case. Suggestions for doing
so include the following:
• Provide research (such as the papers cited herein)
• Map the economic impact of programs to the
organization’s strategic relevancy
• Show that non-cash rewards and recognition
represent a better investment for the company
than a variety of other business interventions
Research has shown that in order to be effective, non-cash
programs must complement other strategies and
initiatives, that the nomination/winning process must
be clear, and that the evaluation/selection processes
must be transparent.
This body of new research needs to be understood and
reframed into simple business language by providers
and planners alike. It is not enough to know the use
of non-cash is supported by research; the evidence
must be translated into a credible, persuasive rationale
within the program proposal.
6. We're All Marketers
Now
In the current days of spam filters, push marketing
very rarely yields the desired result. Additionally,
budgetary pressures have caused many organizations
to continue the move to “self-service” approaches
such as internet portals, making it more difficult to
stand out among the competitionxxiii. This has caused
Fast Future, to predict that service will become the
“killer app” in 2012.xxiv
Organizations that deliver truly outstanding customer
support will be the winners in the new economy.
Consumers expect an experience that reflects a
product or service marketing promise. Engaging
customers today requires all stakeholders within the
company to be committed. It also requires that
organizations redefine (or repurpose) what marketing
really is.
To the point, who are the marketers today? According
to McKinsey, “everyone is responsible for
marketing” or, more specifically, maintaining and
exceeding customer expectations.
People’s attitudes and actions define the authenticity
of any brand. Progressive companies are embracing
the notion that the intersection of customer and
employee is often the moment of truth for their value
8. proposition and they are designing reward and
recognition programs that reinforce the desired result.
The IRF not only expects this design impetus to gain
momentum, it also envisions more cross-functional
teams participating in the development,
implementation and evaluation of future programs.
Improving the customer’s overall experience takes a
keen eye.
Page 8 of 16
Take Aways
At a minimum, CMOs should be aware of any or all
reward and recognition programs in play within the
organization and know how they can be used to align
employee behavior with customer expectations. If
they have not been supporters of such programs in the
past, it’s now time to get on board.
As the knowledge economy continues to increase, the
intersection points between employees and consumers
will increase. All employees should participate in at
least one reward program that reinforces the
expectations of customers. Likewise, top performer
travel programs should be opened up for select
employees whose actions keep customers satisfied
and engaged. And we do mean throughout the value
chain.
Program managers can be the catalyst for this change
by collaborating with the CMO, the VP of HR, and/or
the VP of Corporate Communications. Aligning
employees with the brand so that brand promises
aren’t just met but exceeded, creates significant
organizational advantages.
7. Can You Handle The
Truth?
- The Retention Myth And A Culture
Of Innovation
If service is the “killer app,” then employee
engagement is the operating system. Customer
expectations are now higher and the relationship
between them and the employee is critical.
Research by the FORUM for People in Business
found that consumers are actually more loyal to
individual employees than they are to the brand.xxv
However, the rough economic and tenuous workforce
situation has lulled many organizations into a false
sense of security about retaining employees. In short,
organizations should take heed of these key research
findings from the FORUM study:
• 74% of employees would consider a new job
opportunityxxvi
• 50% of employees have considered leaving their
current jobsxxvii
• 21% have applied for another job in the past six
monthsxxviii
• 66% would change jobs for the right
opportunityxxix
9. • 5% of employees say they intend to remain in their
Page 9 of 16
current positionsxxx
Employees who said they might leave consist of key
players. For example:
• 35%-40% of all key leaders now eyeing new
positions are focused on their competitorsxxxi
• 25% of employees considered as “high potentials”
are at risk for voluntary separationxxxii
A lack of consistent recognition has impacted the
“cooperative” nature of some work environments. In
fact, 59% of managers say that economic
conditions—and the competitive stresses and
pressures that come with it—have negatively
impacted their culture.xxxiii
This “fear factor” within some firms has stifled
innovation, creating reluctance on the part of
employees to share new ideas or take chances.
Recent research supports this, showing that
employees at “Rewarder Organizations” generate
ideas 250% more frequently than employees of
organizations that are not rewarders. Note that
18% of the employees at rewarder organizations were
afraid of being associated with failure when taking
chances.xxxiv
Take Aways
Organizations should know their retention risks,
especially among high performers. They should also
ensure reward and recognition efforts are aligned and
targeted to create on-going organizational affinity
within these groups.
Program owners should also give special thought to
how their programs can help foster or reinforce a
culture of collaboration and openness. Programs that
are currently in place should:
• Have provisions that reward creative thinking
• Include mechanisms that share best practices
across the enterprise
8. Hi-Tech And Hi-
Touch
A Social/Virtual Workplace & The
Need for Face to Face
In August 2011, 3 of 4 companies reported that they
allow all or select groups of employees to access
social networks on company devices. Only a quarter
ban personal use of social networks entirely.
On the demand side, more than 75% of businesses use
social networking to interact with customers, with
70% of them starting to do so within the last three
years.xxxv
only
10. A high percentage of the population considers social
sites as the central form of communication:
• For people aged 34 and under, social networking
sites have displaced e-mail, texting, and phone
calls as the primary mode of correspondence
• In just a year, utilization doubled among people
Page 10 of 16
over 55xxxvi
Social media sites are quickly becoming a primary
tool to access information—McKinsey’s latest survey
reported that 33% of respondents “use social networks
to navigate content on the Web,” up from 13% in
2008.
Interestingly, as the workforce becomes more
technologically “social,” it has also become more
“virtual,” with many forms of interpersonal
communications giving way to posts, texts, tweets or
(now old school)
With more organizations shifting to “work from
home” environments and placing workers at or near
customer locations, virtual meetingsxxxvii are starting
to give way to what Dr. Karen Sobel Lojeski calls
“virtual distance,” i.e., the “perceived distance
between individuals when their primary method of
communication and coordination is not face-to-face.”
According to Dr. Lojeski’s research, the average
corporation’s overt reliance on technology for
communication (even to someone in a cubicle down
the hall) and outdated corporate structures have
reduced efficiency, collaboration, engagement, and
innovation.
To fix the problem, Dr. Lojeski advises building in
face-to-face time at critical project points. The social
elements of travel will serve the more geographically
displaced workforce of the future.
As noted by Booz and Co, the next few years will see
“business travel become a valued luxury” to work
teams seeking more interaction.
Take Aways
All technology-enabled reward and recognition
schemes need to be integrated with the company’s
internal social media sites and (if applicable) to
external platforms as well. Likewise, program owners
should look at the unique circumstances of cross-functional
and virtual teams and “design in” special
web-based tools that reward collaborative efforts
among colleagues.
On the meetings side, a Cornell study suggests that
event owners need to be better prepared to build in
face-to-face meetings in order to:
• Capture attention for something new or different
happening
• Inspire a positive emotional climate and
encourage teamwork and innovation between
groups or build strong human networks outside of
solely information sharingxxxviii
e-mail.
11. !!!!!
Page 11 of 16
9. “To Your Health!”
Wellness Required
Among industrialized nations, the U.S. is number one
in per-capital health spending, but an unhealthy nation
by international standards. According to the World
Health Organization (WHO), the U.S. ranks:
• 39th in infant mortality
• 43rd in adult female mortality
• 42nd in adult male mortality
• 36th in life expectancy
Did you know that Starbucks currently spends more
on healthcare for its employees than it spends on
coffee? In 2009 alone, the U.S. spent over $2.5
trillion on healthcare, which is 17% of the GDP. At
current growth rates, healthcare spending is expected
to be 25% of the GDP by 2025.
According to the Department of Health and Human
Services (2010), while up to 75% is spent on the
treatment of conditions that are otherwise
“preventable,” less than 5% goes toward preventing
the onset of diseases in the first place. Workplace
wellness programs that address unhealthy behaviors
and other risk factors simultaneously—while offering
chronic disease management solutions—are a
significant way to mitigate these costs.
As reported by the American Institute for Preventative
Medicine, current workplace wellness programs have
returned over $3 for every $1 invested in medical
expenses alone. Recognizing the power of this
proposition, the U.S. Government is raising the cap on
attainment incentives to 50% of healthcare coverage
costs; it’s also funding small businesses to start
wellness programs (Patient Protection and Affordable
Non-cash incentive additions to wellness programs
have been shown (Johnson & Johnson, for example)
to increase voluntary participation by up to 90%, a
finding from “Big Fat Truth About Use of Incentives
For Wellness Programs,” published by the Incentive
Federation.
Take Aways
Current wellness initiatives should be integrated into
existing reward and recognition portfolios. If an
organization does not have a reward and recognition
program, wellness initiatives are an excellent starting
place.
Likewise, incentive travel program owners should not
discount the ROI and internal marketing potential that
may exist with including a certain number of top
performing wellness employees on annual or
quarterly events.
Travel program managers can very easily include
healthy lifestyles into the group travel experience by
providing time to engage in physical activity and
including healthy meal choices on their menus.
12. Page 12 of 16
10. Convergence and
Integration
These are unprecedented times. Past recessions saw
corporations reinvesting profits back into the work
force after signs of recovery. That isn’t happening
this time.
While economists declared the recession over in
2009, wages and salaries accounted for just 1% of
economic growth in the first 18 months after
(compared with 15% in the 2001 recession).
Corporate profits accounted for 88% of that growth in
the same time period (compared with 53% in
2001).xxxix This has created problems of un- and
under-employment outside of organizations, and has
also created over-employment within them.
According to The Corporate Leadership Council, the
average “job footprint” (what a worker is expected to
do) rose over 30% since the recession’s start.
Likewise, Hay Group found that two-thirds of
workers report putting in unpaid overtime.xl
All of this points to organizations demanding more
from their people and their tools, leading to job and
technology convergence on multiple fonts.
Case in point: A joint MPI/Site Foundation Study
showed that 37% of planners have seen their roles
increase in planning other events (either incentives or
meetings), with sixty-seven percent anticipating even
more convergence within the next year.xli
This trend is not limited to Human Resources --
businesses will expect the same from their
applications.
At last count, SaleForce.com seamlessly integrates
with over 800 applications and Facebook has over
80,000 ‘connect’ buttons in play on various outside
websites.xlii As businesses focus more on software
than hardware in an effort to unite their internal and
external communications, demand during the next few
years for systems integration and process experts is
expected to increase exponentially.
Likewise, Forrester predicts overall spending on IT
will grow by 5.5% in 2012, and businesses will look
to cloud computing and virtualization to save on
capital and maintenance costsxliii.
Take Aways
At least in the short term, you can expect roles to
continue to merge. If not already completed, ensure
that any systems currently owned or supported by the
program can be integrated (as much as possible) with
organizational CRM and sales force automation
systems. If possible, be aware of your organization’s
(or clients’) technology protocols to ensure that you
are not blindsided by mandates toward cloud
computing or virtualization.
13. Page 13 of 16
11. The World Is Our
“Oyster”
Global Rise Of China, Need For
Multi-Lingual People, Impact Of
Global Issues Affecting The Domestic
Economy
According to McKinsey, the next two decades will
see the global middle class (and its spending power)
grow by up to three billion, driven heavily by
expansion in the “BRIC” countries (Brazil, Russia,
India, China). xliv Given well-documented growth
opportunities in emerging economies—and the fact
that only 25% of current economic activity is truly
globalxlv—executives will have increased interest in
the global market.
Despite this global view, recent research of 500
corporations revealed that organizations that
outperformed their industry for a decade maintained a
local focus unique to each distinct marketplace.
This suggests that attention to geopolitical influences
had a material impact on in-country performance.
Responses from over 600,000 employees showed how
best in class global organizations gained a competitive
advantage by aligning and engaging employees
worldwide—specifically through programs that were
relevant to local audiences. This is consistent with
the feedback the IRF received at our 2011 Fall
Symposium.
For example, many open-space discussions on
globalization occurred at the symposium. Generally
speaking, although many organizations want to go
global with their reward and recognition programs,
doing so involves obstacles that are more cultural and
managerial in nature: Customs, practices and social
norms in emerging economies differ quite markedly
from those in the U.S.
Take Aways
Be aware of how your reward and recognition
initiatives help align all parts of the organization. Be
prepared for cultural considerations as programs are
adopted cross-border: Both require solid
understanding of the issues involved with any global
program, many of which are taken for granted in the
operation of a North American program. For
example, communications and legal matters can pose
significant hurdles on a multinational scale.
14. !!!!!
Page 14 of 16
12. May We Lend A Hand?
– Corporate Social Responsibility
According to MIT, sustainability has neared a tipping
point, where companies not only see a need, but are
deriving profit from sustainable business practices.xlvi
A survey of 2,874 managers and executives from
113 countries found that:
• 70% of companies that placed sustainability on
their management’s agendas have done so in the
past six years
• 20% have done so in just the past two years.
Although two-thirds of respondents indicated
“sustainability was critically important to being
competitive in today’s marketplace,” most are having
a difficult time making their definition of
sustainability relevant and actionable within their
business.
‘Corporate Social Responsibility’ has made the top 10
on many Executives agendas, with 31% of
respondents indicating that they have found a way to
profit from sustainable business practices. However,
a recent IRF/CMI poll showed that the number of
incentive planners including some type of CSR
activity in their travel events declined by almost 10%
in the past year, with only 31% of respondents saying
they included CSR as part of their itineraries. This
was most likely driven by tighter budgets and the
availability of ‘built in’ sustainability through green
hotels, etc.
Take Aways
Being aware of your organization’s CSR policy and
potential changes is crucial. Taking an honest look at
the reward and recognition program process will help
ensure that resources are sustainably applied. This
could include the use of digital vs. paper
communications, documenting where merchandise
items are sourced, and adding eco-friendly travel and
merchandise items to award portfolios.
The inclusion of CSR in any program needs to be
aligned with the organization’s brand and culture. In
addition, program participants need to view CSR
activities as desirable and its benefactor as valued.
Do not assume everyone automatically feels a
natural urge to participate.
15. i McKinsey Global Survey Results. (2011).
https://www.mckinseyquarterly.com/Economic_Studie
s/Productivity_Performance/Economic_Conditions_Sn
apshot_December_2011_McKinsey_Global_Survey_r
esults_2905?pagenum=2
ii See the following:
http://www.hrotoday.com/content/4623/fast-hr
iii See the following:
http://fastfuture.com/wp-content/uploads/2011/11/Tim-
Hancock-and-Rohit-Talwar-Meetings-Sector-in-
2012.pdf
iv McKinsey Global Survey Results. (2011).
https://www.mckinseyquarterly.com/Economic_Studie
s/Productivity_Performance/Economic_Conditions_Sn
apshot_December_2011_McKinsey_Global_Survey_r
esults_2905?pagenum=2
v IRF Fall Pulse Survey 2011. The Incentive
Research Foundation. (2011).
http://theirf.org/research/content/6083519/incentive-research-
foundation-survey-says-economy-impacting-incentive-
trends/
vi See the following:
http://meetingsnet.com/corporatemeetingsincentives/i
ncentives_motivation/survey/2012_incentive_survey0
104/
vii IRF CMI Study. Incentive Research
Foundation. (2011).
http://theirf.org/research/content/6074997/2011-irfcmi-merchandise-
poll/
viii The Use of Awards In Organizations. The
Incentive Research Foundation. (2011).
http://theirf.org/research/content/6081797/the-use-of-awards-
in-organizations/
ix See the following:
http://theirf.org/research/content/6083519/incentive-research-
foundation-survey-says-economy-impacting-incentive-
trends/
x ITU World Telecommunication. (2011).
http://www.itu.int/wsis/tunis/newsroom/stats/
xi Are Your Customers Becoming Digital
Junkies? McKinsey Quarterly. (2011).
http://www.mckinseyquarterly.com/Are_your_custome
rs_becoming_digital_junkies_2839
xii How Internet Standards Will Finally Deliver A
Mobile Revolution. McKinsey Quarterly. (2011).
http://www.mckinseyquarterly.com/How_new_Internet
_standards_will_finally_deliver_a_mobile_revolution_
2788
xiii See the following:
http://www.census.gov/prod/cen2010/briefs/c2010br-
03.pdf
xiv The Rise of Generation C: Implications for the
World of 2020. Booz and Co. (March 26, 2010).
http://www.booz.com/global/home/what_we_think/rep
orts_and_white_papers/ic-display/47812404
xv See the following:
http://en.wikipedia.org/wiki/Gamification
Bibliography
This material is copyrighted and the sole property of
The Incentive Research Foundation. It is not to be
reprinted or reproduced in any way without prior
attribution to The Incentive Research Foundation.
Copyright 2012.
16. xvi Guidelines for Game-Based Learning. Pivec,
Maja, et. al. Pabst Science Publishers, Austria.
(2004).
http://www.paulpivec.com/Games_in_Schools.pdf
xvii See the following:
http://hbr.org/2011/06/synthesis-how-games-could-save-
the-world/ar/1
xviii See the following:
http://www.gartner.com/it/page.jsp?id=1629214
xix See the following:
http://www.forbes.com/sites/haydnshaughnessy/2011/
11/09/dell-gamification-strategy-are-you-kidding/
xx Employee Motivation: A Powerful New Model.
Nitin Nohria, Boris Groysberg, Linda-Eling Lee.
Harvard Business Review. (Jul 01, 2008)
http://hbr.org/product/employee-motivation-a-powerful-
new-model/an/R0807G-PDF-ENG
xxi Motivating People: Getting Beyond Money.
Martin Dewhurst, Matthew Guthridge, and
Elizabeth Moh. McKinsey Quarterly. (2009)
https://www.mckinseyquarterly.com/Motivating_peopl
e_Getting_beyond_money_2460
xxii Growth Reimagined. 14th Annual Global CEO
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http://www.pwc.com/gx/en/ceo-survey/pdf/14th-annual-
global-ceo-survey.pdf
xxiii Self Service on the Rise. Computer World
(January, 2012).
xxiv See the following:
http://fastfuture.com/?p=437
xxv The Employee or the Company: The Relative
Importance of People Versus the Company
Brand on the Customer Experience. Mulhern,
Frank.
http://performanceforum.org/associations/12672/files/
Forum_theEmployeeortheCompany.pdf
xxvi Despite High Overall Job Satisfaction, Most
Will Consider Job Offers. Harris Interactive
(March 8, 2011).
http://www.tlnt.com/2011/03/08/survey-74-of-workers-are-
passive-job-seekers-ready-to-consider-a-move/
xxvii Nearly 50 Percent of Employees Have
Considered Leaving Their Current Jobs.
FierceFinance. (March 2, 2011).
http://www.fiercefinance.com/press-releases/nearly-
50-percent-employees-have-considered-leaving-their-current-
jobs
xxviii What Did You Get For Employee
Appreciation Day? Market Tools Blog. Koskella,
Jodi. (March 15, 2011).
http://www.markettools.com/blog/what-did-you-get-for-
employee-appreciation-day
xxix Employees Determined to Find New Jobs
This Year. Jared Bilski. CFO Daily. (January 14,
2011).
http://www.cfodailynews.com/employees-determined-to-
find-new-jobs-this-year/
xxx Survey Finds Sharp Rise in Employee
Discontent. Right Management. (December 13,
2010).
http://www.right.com/news-and-events/press-releases/
2010-press-releases/item20533.aspx
xxxi HRM Management Board. (March 20, 2011).
http://www.hrmboard.com/2011-engagement-retention-
conference-177.html
xxxii A Comprehensive Solution for Identifying,
Developing, and Assessing Top Talent. The
Corporate Leadership Council. (2011).
http://www.clcpro-highpotential.
com/pdf/CLCPro_High_Potential_Broch
ure.pdf
xxxiii Workers Agree: Company Culture Matters.
Randstad Work Watch Survey. (October, 2010).
http://us.randstad.com/content/aboutrandstad/news-and-
press-releases/press-releases/
2010/20101004005.xml
17. xxxiv What Mad Men Gets Right About Innovation.
Harvard Business Review. H. James Wilson.
(July 22, 2010).
http://blogs.hbr.org/research/2010/07/where-mad-men-
gets-innovation.html
xxxv Herman Trend Alert. (August 2011).
http://www.hermangroup.com/alert/archive_8-31-
2011.html
xxxvi Are Your Customers Becoming Digital
Junkies? McKinsey Quarterly. (2011).
http://www.mckinseyquarterly.com/Are_your_custome
rs_becoming_digital_junkies_2839
xxxvii Virtual Meetings: It’s Nearly Unanimous.
Hatch, Sue. Corporate Meetings and Incentives.
(August 2010).
http://meetingsnet.com/corporatemeetingsincentives/n
ews/virtual_meetings_cwt_study_0811/
xxxviii The Future of Meetings: The Case for Face
to Face. Duffy, Christine and McEuen,
MaryBeth. Cornell University School of
Hospitality Research. (2010).
http://www.hotelschool.cornell.edu/research/chr/pubs/
perspective/perspective-15297.html
xxxix A Boom in Corporate Profits, A Bust In Jobs,
Wages. Wiseman, Paul. Associated Press.
(July 2011).
http://www.msnbc.msn.com/id/43860044/ns/business-stocks_
and_economy/t/boom-corporate-profits-bust-jobs-
wages/#.TwKvcNRrOnk
xl Overstretched. The Economist (May, 2010).
http://www.economist.com/node/16163228
xli See the following:
http://www.siteglobal.com/Foundation.aspx
xlii The Rise of Generation C. Strategy+Business.
(February, 2011)
http://m.strategy-business.
com/article/11110?gko=64e54
xliii See the following:
http://www.forrester.com/rb/research/
xliv Mobilizing for a Resource Revolution. Richard
Dobbs, Jeremy Oppenheim, and Fraser
Thompson. McKinsey Quarterly. (January 2012).
https://www.mckinseyquarterly.com/Energy_Resource
s_Materials/Strategy_Analysis/Mobilizing_for_a_reso
urce_revolution_2908
xlv Mapping Globalization. McKinsey Quarterly
(December, 2011).
http://www.mckinseyquarterly.com/newsletters/chartfo
cus/2011_12.htm
xlvi Sustainability Nears a Tipping Point. Kiron,
David. MIT Sloan Management Review. (Dec
15, 2011)
http://sloanreview.mit.edu/the-magazine/2012-
winter/53213/sustainability-nears-a-tipping-point/