Employee safety and wellness are fast becoming a top priority for organizations. In a given year, companies spend over $170 billion in costs associated with occupational injuries and illnesses. To reduce these costs, and to keep employees engaged and healthy, you need a successful safety incentives program, but that will not create itself. Employees do not just see a safety program and buy in 100% for an indefinite amount of time. Employees need to be incentivized to engage in the programs that you are putting out there for their, and your, benefit.
It all started with paper gift certificates. These certificates were given to employees, customers, and partners for meeting goals, recognition on a job well-done, or just as a simple thank you. Gift certificates were often mailed and could take weeks to reach their recipients.
Premium reductions are becoming less effective when it comes to employee health and wellness programs. We recently wrote about how cash isn’t kingwhen it comes to rewards and incentives, and the same can be said for rewarding and incenting employees for healthy behaviors.
A recent study from the Incentive Research Foundation, Engaging Outside Program Support for Incentive and Recognition Programs, is full of ideas on how to use outside firms to optimize your incentive programs this year. There are a number of ways to go about outsourcing an incentive program, from working with gift card providers as a cost effective reward solution, to having your program fully administered by an outside firm. Here are a few unique ways to outsource efforts, while keeping costs low and increasing your program(s) success rates:
Imagine offering merchandise or a gift card instead of a standard $10 off incentive to drive sales. Changing your discount structure in such a way may seem crazy but new research from Ifeelgoods may have you thinking differently. The research revealed that, if given a cash-based offer or a non-cash reward, consumers carried more brand equity and purchase intent than when retailers put more cash back in consumers’ pockets. The study revealed that non-cash incentives had diverse positive correlations with consumers including:
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