A recent issue of Incentive magazine offered interesting insight into trends in “incentive” programmes and 2010 expectations in a reader forecast survey.
Results of the survey found that readers expect more budgets to be cut than increased in 2010, “but companies that maintained programmes in 2009 say they gained a competitive advantage.” In answer to the open-ended question on reader plans to maintain and improve motivation and loyalty this year, a top response was “More recognition, both private and public.”
The study in particular looked at travel, merchandise and gift card programmes, finding that:
• In 2010 budgets, as compared to 2009, gift card budgets increased or remained unchanged more than budgets for travel or merchandise.
• In terms of number of programmes that will be run in 2010 vs. 2009, gift card programmes increased more than any other while travel and cash programmes were eliminated more frequently.
• For plans to reduce or eliminate travel, merchandise or gift card programmes in 2009, gift cards once again were lowest across the board.
What can we conclude from these findings? Companies are finding that programmes based around a reward delivery model of gift cards realise the most return on investment. This is especially true in Globoforce programmes that do not require the end-user to figure out what cards to offer in various regions of the world, or how to structure multiple use cards. Our Ex*change Network of global shopping, dining, travel, entertainment, adventure and charity providers lets your recognition recipients easily select the Gift of Choice most relevant and personal to them with the least amount of adminis-trivia on behalf of the company.
