When you launch a new product, you have to accurately convey all its features and position it in the market. We describe IncentViz as a solution for incentive programs, but since calculating sales commissions efficiently is a huge part of it, we’ve found that some people think that IncentViz is just for salespeople and just for cash. The fact is that IncentViz can be used for all kinds of incentives, not just monetary ones. Here are five different smart incentive ideas that IncentViz can help you launch:
1. Vacation days.
Extra days to relax at home or on a beach somewhere? That’s pretty motivational! The great thing about vacation time as an employee incentive is that it has no out-of-pocket cost – though there is a “cost” when people are out of the office. Be sure, though, that your company culture encourages rather than frowns upon team members taking a well-deserved break. This type of reward can go a long way in terms of employee satisfaction.
2. Flexible Schedules
Like vacation time, schedule flexibility has no cost and can be a very strong performance incentive. Employees who earn this can determine their own schedule for a month. Give them a range of work hours they can choose from to arrange any way they like. For example, someone might want to work early in the day, head home for four hours for a break, then come back later in the day. That may seem nonstandard, but in this digital era of connectivity, flexibility is easier than ever to accommodate, and your staff will thrive with schedules that fit their lives.
3. Arriving Late or Leaving Early
Similar to flexible schedules but on a smaller scale, this incentive lets employees roll into to the office or head home a set number of hours early or late, respectively. This option will resonate with everyone! Your night owls can catch some more Zs in the morning, and your early birds can beat rush hour on the way home.
4. Hot item
If you can find an item that’s desirable enough to drive your team, this can be a very effective motivator. A 42-inch flat screen TV is not as likely to excite people, since they probably already have one, but how about a top-of-the-line espresso machine? Or, you could fit the prize with your team’s needs. A new iPhone or custom suit might be a good incentive for your salespeople and also would bolster their job performance.
5. Fun Company Event
Experiences impact happiness more than material possessions, and a company event has the added bonus of building team bonds. How about catering a lunch, meeting up for dinner, or going bowling together? Furthermore, a great culture increases the chance that your team will stick with you for the long run.
While money is motivating, the above incentives can have as great or greater effect on your team’s performance, and IncentViz can help you build out the incentive program that works best for your company. Our customer Watchfire even use IncentViz to keep track of rebates earned by partners in its partner program! Whatever you can think of, IncentViz will be there to create it and execute it with ease.