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Premium member Presentation Transcript Incentive & Reward Programmes: Incentive andamp; Reward Programmes Our Approach to Incentive Programmes: Our Approach to Incentive Programmes This document outlines a range of ideas that can be mixed and matched to create a programme to achieve your objectives. Our approach is to listen, work with you to create the programme that you feel best meets your needs and then to deliver to exceed both your and the audiences’ expectations. Design of successful Incentives takes account of Expectancy Theory E(i) function(Er X Dpb X Prb) This theory says that we each make an individual calculation of the Ei – the effort we put in – and this depends upon Er - The Effort Required Dpb - Desirability of perceived benefits Prb – Probability we perceive of receiving the benefits To maximise effectiveness we need to communicate desirable awards and design a campaign that individually touches that the whole audience. This means optimising the elements of expectancy theory throughout the campaign in the minds of individuals. Fundamental to this is a mechanism that enables everyone to feel that they are 'in with a chance' throughout the whole period. Incentive Design Considerations: Incentive Design Considerations Broad principles and discussions for leaders to consider; Design Involve people in the design of their incentive. Launch programmes that can be said to have been designed with 'your input andamp; your ideas' A truly effective incentive gains everyone’s buy-in, everyone’s buy-in defines an effective incentive Team and/or individual Consider the effect of individual targets and rewards on teamwork Consider the effect of team targets and rewards on teamwork and individual accountability Measurements What - Results, outcome, effort, values, or performance based Reliability, availability, accuracy and frequency of measurements Targets Decide balance between individual and team targets andamp; incentives Remember targets themselves motivate - Communication and buy-in dependent Target to Rewards Structure Take care if considering a zero-sum game that it does not interfere with teamwork, or inter-teamwork and communication Consider the effect of thresholds and effect of them not being achieved Incentive Design Considerations: Incentive Design Considerations 6. Structure andamp; Administration Make the structure scheme easily understandable– 2 minutes. Ensure that any administration is a simple as possible. Consider how to keep the whole audience involved throughout the period. A 10% performance improvement in 100 people or a 50% improvement in 10 people? Amongst a population of performers where are the best gains . Work the figures and model potential outcomes and investments 7. Communication Integrate with other communication activity and consider implicit as well as explicit messages Over-communicate by 1000%. Effectiveness is vastly improved by excellent communication in sufficient quantity delivered through all appropriate media. This should be planned meticulously. 8. Recognition Consider the power of recognition communicated through the programme Recognition is the most powerful motivator, an incentive communicates recognition most powerfully when it has everyone’s engagement and buy-in and the scoring and results are public. The opposite can be the case, and if the programme does not have buy-in from everyone and is not seen to be 'fair' expensive de-motivation appears. 9. Reward An effective incentive reward enables people to have or experience something which ordinarily they would not have or experience. The probability of winning something over the campaign period could be between 10 and 500%. Clients & Visuals - Incentive Programmes: Clients andamp; Visuals - Incentive Programmes Incentive Collateral: Incentive Collateral Orange Incentive: Orange Incentive Incentive – Scratch cards for instant rewards: Incentive – Scratch cards for instant rewards Incentive : Tactical Teasers: Incentive : Tactical Teasers Group Travel Prize Examples: Group Travel Prize Examples Millionaires – Monte Carlo: Millionaires – Monte Carlo Monte Carlo Live Like a Millionaire Helicopters, Casino, High Life, Boats Chic - Palma: Chic - Palma Palma Chic, Upmarket Style Medieval castle, Vintage train ride to Soller, Cruise aboard a traditional Schooner, Water sports Barcelona: Barcelona Barcelona Catalan Experience Visit the Cava Caves, Dragon Boat racing, Sailing Regatta, Mini ‘CAMEL’ trophy experience Iceland: Iceland Iceland Wilderness, dog sledding, clubbing Dog Sledding; Monster Jeep Safari; Night Clubs; Skidoo’s; Rafting; Blue Lagoon City of Dreams - New York: City of Dreams - New York NYPD Patrol / Mafia Tour Meet a 'Don', grab a ride with the NYPD, get underneath the city that does not sleep The Spying Game - St Petersburg: The Spying Game - St Petersburg St Petersburg Coming in from the Cold – The Spying Game MI5 and KGB agents talk and train you for a mission Make A Difference – Best for Africa: Make A Difference – Best for Africa Southern Africa Tribal spirit Help Go native, learn from a different culture, build, contribute, really make a difference. Outdoors & Arizona: Outdoors andamp; Arizona Arizona Cowhands and Canyons Learn to be a cowhand, camp, make a western, explore the Grand Canyon Viva Las Vegas: Viva Las Vegas Las Vegas Canyon, Glitz, Glamour, Harleys Casino’s, The Strip, Fly over the Grand Canyon, Driving Harley Davidson’s, Meeting Elvis Dubai: Dubai Bedouin Nights Horse Ride into the Sunset, 'Ship of the Dessert', Dune andamp; Wadi Driving Experience with BBQ, Visit The Gold Souk and The only 7* hotel in the world K K K K Best Business School: Best Business School 60 Hours in Boston Kotter / Porter / Richard Noble Lectures, Seminars, Case Studies Key Speakers Stay on Campus Mini Graduation Ball The Harvard Experience Individual Lifestyle Prize Examples: Individual Lifestyle Prize Examples Slide23: Slide24: Individual Rewards – Personal Touch: Individual Rewards – Personal Touch Individual Rewards – Personal Touch: Individual Rewards – Personal Touch Individual Rewards – Personal Touch: Individual Rewards – Personal Touch Individual Rewards – Personal Touch: Individual Rewards – Personal Touch You do not have the permission to view this presentation. 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