How to Successfully Create an Incentive Program.
1. First you need to choose the goals for the incentive program. What are you hoping to accomplish? Are you looking for an increase in product sales or perhaps a growth in new customer accounts? What do you expect your team to do with the incentives?
2. Next, set up a measurement system for the success of the program. Think about what matters to you and measure it. What are your data points? How will you gather these data points? Who manages this system?
3. Remember what your team has done to create a baseline. How were they performing before the program? This will help you find the positives or negatives of your program later on.
4. Time to start recording the program. Make sure you also monitor additional data during the program. It is important to know the differences in performance before and after the program has started. Look for differences in your bottom line.
5. Find out how your employees feel when working under the program. Are they happier? More stressed? Remember that keeping your employees happy is important. Also, ask for feedback on ways to strengthen the program in the future.
6. Review and see if your program reached the goals you set out in the beginning.
7. Survey. When you are done with the program, find out what everyone thought of it. What were the positives and negatives?
8. Finalize. Was it a success? What was your ROI?