The structure of an incentive programs constitutes several awards as well as recognition to keep all the employees motivated so that they work consistently toward the goal of the organisation. Employee incentives platform is very essential for employees.
Incentives are considered to be a tool to modify behavioural changes for several reasons. Through employee incentives platform and employees feel charged up and their behaviour would be by the growth of the organisation. This is also regarded as a psychological principle of Operant Conditioning.
What are the different types of incentives?
The companies users different incentives for aligning the behaviour of the employees with the organisational goals. Some of the examples are as follows:-
#1. Sales Incentives
It improves the performance of the sales by motivating the employees to enhance the metrics.
#2. Employee metrics
It would make the ambience of the workplace more aspiring and enhance the retention of the employees by rewarding the employees to promote the growth of the organisation.
#3. Customer incentives
Increase the profit margin of the customer through rewarding loyalty, advocacy of brand, order frequency which is used by both B2C as well as B2B organizations.
#4. Channel Incentives
To occasionally rewarding the different partners of channel for maintaining their loyal and sharing the data related to additional sales as well as marketing to increase the sales of the product.
#5. Incentives of dealer
Rewarding for motivating the dealers to sell their products more extensively which is used by the distributors as well as manufacturers for increasing the penetration of the market.
How important are incentives?
Modern incentive programs are quite dependent on digital platforms as well as different online interfaces for assigning the points, fulfilling rewards as well as communicating with the participates. This not only enhances the scalability as well as the accessibility of different programs.