Human Resource Executives Weigh In On Incentive Programs

Which employee reward programs work the best? Human Resource professionals responding to The Society for Human Resource Management's 2005 Reward Programs and Incentive Compensation Survey comment on the most frequently used and effective methods to recognize and encourage strong employee performance. Here are just a few findings:

1. Over 1/3 of HR professionals say their organizations offer an
   "employee of the month" or similar recognition.
    
2. 34% of HR professionals indicate their organizations offer non-cash,
   company wide performance rewards.
    
3. Non-cash company wide performance awards are given most frequently
   to non-management salaried employees, non-management hourly employees, directors/managers and upper management (in this order).
    
4. Almost 3 out of 10 HR professionals (29%) say their organizations
   offer safety achievement rewards.
    
5. Non-monetary reward programs are "very effective" or "somewhat effective"
   for recognizing and rewarding top performers, motivating top performing
   employees to maintain level of achievement and improving employee morale.

Customer Loyalty Clarified

Creating deep customer loyalty is a monumental goal for businesses and organizations around the country. Identifying and quantifying key components of the best consumer opinions from across the United States helps to reveal the most relevant and useful findings.

1. The young and the wealthy in the United States really like loyalty programs!
   (72% with household incomes over $75K participate in at least one program)
    
2. 80% of Americans indicate that loyalty programs influence them!
    
3. 74% of Americans say without the loyalty program, they buy less!