5 Examples how companies improve their business
Via incentivising their employees
Have you ever seen one of those frames on the wall of a company office with a plaque stating ‘Employee of the month’? You may have one at your office. While this is a great incentive for employees to boost their productivity and quality of service, we feel that this type of recognition and incentivizing is a little old school.
In this article we share some of our learnings from working with companies to boost employee engagement, productivity and reaching set milestones.
1) Small gestures can have a significant impact
They say that the devil is in the detail, and who knew that a rainy day could have a major impact on employee retention? We found that after several days of rain and bad weather the rate of employee turnover significantly increased*. We understand that delivering the mail and packages while rain is pouring onto you is definitely not what you would describe as “a great day at work”. Yet we all have good and bad days at work, there’s no reason to quit right away.
And so we implemented ‘the rainy day at work’ as a new milestone that the mailmen could achieve. To recognize and incentivize employees when they had a tough working day due to bad weather. Just a small gesture from company to employee, with a big impact. Employee turnover, after one year, dropped by -40%, and sense of pride after a rainy day went up to the sky. Like we said: the devil is in the detail.
*after studying the emotional journey of over 20.000 mailmen in the Netherlands
2) Recognize actions taken to up your response rate
Many of our customers use Tradler to increase the response rate on actions that employees are required to take. This could be anything from attending an event to the request for information from the employees or completing a survey. Recognizing and showing appreciation for taken actions can stimulate employees to respond faster, consequently efficiency and productivity will rise.
3) Incentivizing KPIs personalized per team creates a sense of urgency
Targets and goals are often achieved by a team of people through effective collaboration, rather than by one single individual. It’s no secret that KPIs based on a collective effort creates a sense of shared accountability, which is significant to a company's success. We’ve seen amazing results with some of our customers, who -after incentivising key KPI’s personalized per team- experienced a significant increase in teams hitting their goals. Some of which saw a rise of +42% in productivity in less than 3 months after receiving incentives on the amount of activities per day.
4) Recognition leads to more interaction with internal company content
Performance and development of employees is of major importance to business’ success in today’s economy. Hence, e-learning and internal communications campaigns and programming is on the rise. Not only to align the workforce and teams on goals and targets, but also to keep up with developments in the market. Many of our customers use Tradler to incentivize interaction with such provided content. We have seen an increase in the completion of e-learning courses by +58% after the first month of adding the possibility to gain Tradler recognition points. Interaction with company content may start with a campaign or a request, but it definitely keeps going when you reward the behavior.
5) Rewarding the collective unites the team
As said, getting things done is mostly the result of a collective effort as team members complement each other. We’ve seen a +30% increase of targets achieved across all teams, as the Inside Sales teams of a service center introduced team targets across several teams; competing with one another through our leaderboard. Moreover, after sharing targets on the Tradler platform for several employees within one team we have seen an increase in weekly platform interaction up to +60%.
All in all, the magic happens when you recognize the small steps, collectively they add up and end up being the big changemakers. Do you have examples where incentivising employees have led to better results? And when is investing in an incentivizing strategy worth it to you? We’d love to hear your opinion.
Want to learn how you can boost your team’s productivity and gain business success through employee engagement? Get in touch.
Author: Paul Lloyd
Tradler is a cross functional Employee Engagement Platform helping customers improve engagement between Executives, Managers and Employees while increasing motivation and productivity through smart incentivising using gamification. If you’d like to learn more e-mail our Key Account Manager, Paul Lloyd via firstname.lastname@example.org
Client Engagement Manager
"At Tradler, we believe in the power of positive affirmation through recognition and incentives. In our view, productivity and positivity go hand in hand, which directly translates to tangible business success."