Today, the majority of business owners understand the necessity to reward their executives somehow. Research has proven that correct use of favorable reward and incentive programs can build up a company's capacity and build up employee morale. Such programs can also reduce absenteeism and the employee attrition rate, thus improving the return on investment in employee training. Nearly all business owners also understand that the rewards provide an excellent way to further the organization or the company's products. However, many companies neglect giving their execs custom-made gifts such as personalized luggage or monogrammed bags.
Indispensable fundamentals to useful reward program
Researchers and multiple authors have indicated that good reward and incentive programs are made of several essential elements. One author, Jim Brintnall, utilizes the acronym "SSMART" to describe these fundamental essentials. To Mr. Brintall, SSMART stands for:
- Supports organizational values and goals
- Simple and sincere
- Meaningful
- Adaptable
- Relevant
- Timely
When these crucial rudiments are not properly integrated, then the programs can create employee alienation and other negative effects. Researchers have discovered that typical reward programs fail to engage or motivate the majority of employees. They only impact the top 10% of employees, with 52% of the top 10% feeling they have little to no chance of being awarded recognition. However, some experts advocate that at least 30% of the employees should receive formal appreciation given for performance, and that 70%-80% should be given at least some informal appreciation given. According to these experts, all employees should be given some type of recognition, such as a formal, sincere overt thank you.
Why present customized gifts
According to the author of 1001 Ways to Reward Employees, Bob Nelson, some forms of rewards can be harmful rather than helpful even when the programs are used correctly. Mr. Nelson stated that these types of rewards can promote a sense of entitlement in the workplace. Various surveys and polls have revealed:
- Cash rewards shouldn"t be used as the only component of the reward: 1) They oftentimes fail to motivate employees to improve their work performances; 2) they fail to reinforce the company's conveyance of a thoughtful message of care and respect for the employee; and 3) they can create higher employee expectations, which frequently cannot be met.
- General merchandise shouldn"t be used: 1) The merchandise frequently is of no use to the recipient due to employee"s personal lifestyle and preferences; 2) The merchandise may fail to create a lasting memory; and 3) the off-the-shelf merchandise fails to reinforce the company's projected image of sincerely valuing and caring about the employee.
Basically, a company should remember the fundamental rules of marketing when selecting employee rewards. One size does not fit everyone equally well, and the recipient will be more interested in the benefits than in the features of the reward. Therefore, the most effective incentive rewards are the ones that the individual recipient considers to be valuable and relevant. The reward is only effective if it creates a lasting, enjoyable association between a specific behavior or organizational goal and the reward.
Why give executives custom-made luggage
Personalized luggage tags and monogrammed luggage are superb reward gifts for execs. most executives have to do lots of traveling for company purposes. Many also frequently travel for personal pleasure while on their vacations. Therefore the luggage would be of use and value to nearly all executives. The executives would appreciate the customized luggage because it would make retrieving from airport baggage claims much faster and easier. Having a customized bag also reduces the risk of the luggage being stolen and easier for lost baggage to be returned to its owner. Since the luggage and baggage tags can easily be customized with the company's logo, it can be used for promoting the organization every time the executive travels. The executive will also be reminded of how he or she earned the reward throughout the entire business trip and will be motivated to repeat the winning performance.
Another reason to give personalized baggage
Another reason to present luggage is that it is a more unique present, which makes the company's message of appreciation and caring stand out more. Typical companies present cash rewards, gift cards, promotional shirts, office products, mugs, plaques and certificates. Higher than average companies reward their employees with off-the shelf-merchandise, parking spaces, or group travel opportunities, such as cruises and weekend retreats. Extraordinary companies reward their employees with individualized travel adventures, such as a spa vacation in an European country. A well-paid, well-trained executive can easily purchase a mug or gift card or a promotional shirt. The majority of them probably already have earned lots of these types of rewards prior to becoming executives. most executives have probably also amassed hundreds of plaques and certificates on their way up the career ladder. However, not many executives have amassed numerous sets of monogrammed luggage. Even fewer have been presented a set of luggage along with a customized travel adventure as a reward for a job well done.
Author Resource:
This writer of this article specializes in personalized gifts and corporate promotions.hostgator promo codes hostgator discount
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