Corporate Incentive Gifts
Why give corporate incentive gifts?
Everyone knows the carrot and the stick metaphor and nowhere is it more applicable than in the world of business. Boosting an employee’s performance or thanking an especially loyal client through the use of corporate incentive gifts is a time-proven business strategy. Giving corporate incentive gifts can boost an employee’s morale and increase their productivity dramatically.
The simplest kind of corporate incentive gift is the monetary kind. Quite simply, if an employee reaches a certain pre-established target, they are rewarded with a bonus. The amount they receive is usually in relation to the value they have added to the company. Employees finalizing million dollar deals are recognized by being given a financial bonus far greater than the employees working on deals of only a few thousand dollars. This kind of incentive encourages all employees to work to their maximum, and the harder they work, the greater their reward will be.
Many companies use incentives to create a more competitive working environment. Instead of everyone receiving a reward corresponding to their level of input, the incentives only reward the top few employees. Although this works in some instances, it can backfire. Some employees, knowing they are not near the top of the chain, will fail to see the necessity of working hard.
More and more companies are making use of an incentive gift programme. There are a number of different companies operating either online or through catalogues who will establish and run your corporate incentive gift programme for you. The gifts can be categorized by price and incentive level- the lower levels receiving less expensive gift and vice versa. The best thing about an incentive gift programme is that the employee can choose the gift they want. You will be able to chart the employees’ progress and alert them when they have reached their target.
Everyone likes to think that working hard will pay off and its easier to keep up the good work if the incentives are regular and worth working for. If you’re going to go down the track of incentive gifts its important to do so properly. The initial investment you need to put down may be quite costly but, done well, will end up a profitable investment.