Case Study: DCG President’s Club, Monaco
What makes people feel rewarded? A good place to start is with meaningful, in-person interactions with executives who are fully present and engaged during your incentive program. After that, it’s about thanking participants sincerely, showing them that their efforts do not go unnoticed, and that they have a direct hand in your company’s success. In the case of DCG President’s Club, public recognition of top performers by executives, amidst successful peers, in a beautiful international city, ticked all those boxes and more.
The benefit of face-to-face interaction with company executives is multi-faceted. It demonstrates mutual investment between leadership and program participants in each other’s successes. It creates a personal bond where many people are putting names to faces for the first time. Plus, it’s a chance to sincerely convey appreciation and acknowledgement of top performers’ hard work, increasing loyalty in the future.
Case Study: Moto HelloRewards Program
At ESG Incentives, our high-tech approach to loyalty reward programs separates us from competitors. Our channel sales incentive programs aim to grab an employee’s attention, motivate them to learn and increase brand loyalty. The days of rewarding retail sales representatives with generic swag are over, and good riddance!
Case Study: DCG President’s Club Maui
Two Harvard Business School professors, Nitin Nohria and Paul Lawrence, developed a framework in 2002 called the “Four Drive Model of Employee Motivation.” They identified four pairs of drivers that motivate employees: acquire and achieve; bond and belong; create and challenge; and define and defend.
The importance of using drivers such as these to incentivize sales staff is well-known, as are the benefits. Proper incentives motivate sales representatives to sell more, sell the precise products the company wants sold, and provides both them and the company with a means of measuring their success (or lack thereof).
Less well-known, however, is the exponential effect that providing all of these drivers to employees can have. It has been found that providing employees with any single one of those pairs yields a 3 percent increase in performance. Providing them with all four pairs, however, yields a 36 percent increase in employee performance. Despite this, most companies provide incentives in only one category – or none of the categories – to their employees.
ESG Incentives helps companies provide all four primary drivers of motivation to their sales representatives, ensuring that they can capture an exponentially greater return on their incentive program investment. To that end, ESG Incentives created a travel incentive trip hosted by Lenovo for their top 3 percent of sales performers. The trip, called DCG President’s Club, took place in Maui, Hawaii, in June 2018.