Accounting for Recognition

Employee Recognition is not just for product driven companies.  Many service related businesses are now starting to see the value of recognizing their employees.  While some of these companies are just starting to move beyond Years of Service recognition, many are now starting to do at least that for their employees.

Accounting firms, Legal firms and Management consulting firms are all now implementing Employee Recognition Programs, on a formal level, as a part of their culture.  Human Resource professionals are being added to these companies and their skills at bringing this type of employee recognition are paying big dividends.

Years of Service

I recently attended an event for the Incentive Marketing Association.  Over 350 incentive industry professionals were in attendance.  I enjoyed the networking opportunities, especially the candid comments that come from these types of situations.  Seems many of the industry professionals feel that Years of Service recognition may be a thing of the past.  They felt that the “new” generation we are seeing in the workforce does not have that same work ethic that would keep them with an employer for more than a few years.

I have to agree somewhat, longevity is down for sure, some of that is not the fault of the employee however, but the employer.  Perhaps Years of Service recognition would mean more if it was handled better by companies that even try to do it and those that don’t even try, do something.  No matter what the age of the employee, I still feel they appreciate a gesture of recognition.  Same rules apply though, make it the “right time, for the right person and with the right recognition”.

Incentive Travel

This week I am speaking at the Incentive Marketing Association Summit in Boston MA.  I will be addressing the research available that demonstrates the true value of incentive travel.  During tough budget times such as these, the need to embrace the business case for incentives, especially something as high profile as incentive travel, is an absolute requirement.  Now more than ever, because I believe this climate of budget scruntiny is here to stay, incentive travel programs must be planned with a true Return on Investment in mind.

Incentive ROI has been a hot topic, but truth be known, many incentive planners and corporate buyers shy away from this process.  True incentive ROI is far more than just trying to save money by negotiation and reductions in program inclusions.  My experience has shown quite the opposite.  Programs that are planned and implemented properly (as proven by independent study) do create measured results and have been proven to produce both positive bottom line net profits (that is after ALL expenses inside the company are accounted for, not just incentive program expenses) and cash flow.

Incentive travel is an excellent form of reward for many situations.  To see that exceptional opportunity negotiated away just because there is a fear of “numbers” is a real shame.  For the latest research visit our web site at www.businessgroupinc.com.  We also have several ROI Calculators available so you can become comfortable with your incentive ROI.  Try it, you’ll like it!

Corporate Gifts

My banker has finally caught on to the value of using Gift Albums for his clients and now family!  It all started when he was given a chance at ordering a gift from a Gift Album himself.  I donated one to the local Chamber of Commerce and he was  the lucky winner!

Since then, he has ordered over 76 Gift Albums, using them as “thank you gifts” for customers (like me, but I told him I don’t need one) that refer business to him, customers that bring family and friends to bank with his bank and now he has started to use Gift Albums for his family and friends, gifts for all sorts things, from weddings to graduations.

If you would like to see how easy and affordable this can be, visit my web site at www.businessgroupinc.com.  Gift Albums come in price ranges starting at just $14.00!

Using Gift Albums

Thank you all for your E Mails about Gift Albums.  I guess I did not realize how many of you did not know about this type of gift giving opportunity!  It really is as simple as it sounds.  Essentially a Gift Album comes in a full color fomat (and is available online, no additional cost) with a selection of 40-60 gift items in it.  The entire Gift Album is available at one set price to you.  So, you determine how much you wish to spend up front.  Let’s say you are wanting to spend $50.00 on a gift for someone.  You purchase a Gift Album for $50.00.  That comes directly to you, with no pricing information in the Gift Album itself (so when you present it to your recipient, they do not know the price you paid).  The Gift Album comes in a nice presentation envelope and includes a themed insert sheet (Congratulations, Thank You, A Gift for You) so that you can add a personal message.  You simply present the Gift Album to your recipient and let them decide which of the 40-60 gifts they would like (as I said, there is a web address where they can select online from even more than what is in the Gift Album, no additional cost to you).  Once they make a selection (either by mailing in a postage paid card or online), the gift they selected is sent directly to them.  All of this is included in the $50.00 you paid!

For more information, check out our web site at www.businessgroupinc.com

Gift Albums

It is getting closer to that time of year.  That time when we all begin to put the summer behind us and start planning for next year.  Many of those plans will no doubt be interesting this year as it has been and continues to be a year of dramatic change for all of us.  So, will the climate for providing Holiday and Corporate Gifts change?

Holiday gift giving decisions start to take shape in late August and early September.  By October all of those gift catalogs are filling our mailboxes.  Gift albums, those with a wide variety of choices of brand name, lifestyle (things we would use in our homes) merchandise are going to be extremely popular this year.  In years past Gift Cards began to rise as the easiest gift to gift.  No picking something out, no worries about whether or not the person you are giving this to will like it.  Problem with Gift Cards, especially when compared to Gift Albums is having the actual card value being visible to your recipient.  Gift Albums do not show that cost.  Another issue with Gift Cards is the average spend per recipient.  Most Gift Cards redeemed are turned in towards a larger purchase than the value of the card.  So, what you are doing is having your recipient spending additional funds just to redeem your card.  Most of these purchases are impulse buys, making that even worse for the recipient.  Lastly, with gas prices at $4.00 plus a gallon, Gift Cards require a trip to the store (yes, some can be redeemed online, but most are not).  Gift Albums are delivered right to your door and then can be delivered to your recipient’s door.  Once the gift selection is made, either by picking it from the printed catalog or going online, the actual gift selection arrives at your recipient’s door.  Easy, fast and very affordable as most Gift Albums start (including all costs of shipping the gift) at $14.00!

A great option for the upcoming season!

Incentive Travel Lives!

If your company is considering or has already cut, reduced or heaven forbid, eliminated your incentive travel program, think again!  While these programs are always high profile inside the company, due to the nature of the award and the limited number of people that can qualify, they can also be the life saver for many jobs inside your business.  Sales incentives, with travel as an award,  can and DO produce results.  IF the program is properly planned and implemented. 

Sales and Marketing Magazine recently covered this in their July 2008 Issue and I was pleased to be a part of that article.  My role, as Chair of the Research Committee for The Incentive Research Foundation has allowed me to see that what I have always said, incentive programs do work, has been proven to be true!

http://www.salesandmarketing.com/msg/content_display/publications/e3ia3b0a6fe9b68eff0047cfb88f6450651

To Give or Not to Give

This past week I have had the opportunity to meet with a lot of small business owners in the Sacramento Area.  We (this area) are going through much of what the rest of the country is, a tough time economically.  These small business owners however are unlike the CEO’s I meet from Fortune 500 Companies.  When these small business owners see times like this, they are much more likely to reach out (that is how they found me) for out of the box solutions.  CEO’s at Fortune 500 Companies quickly react to the standard fare, cut payroll, cut marketing expenses, raise prices and work loads on those employees that are left.

The small business owners I met with are already taking steps to shore up their position for when things turn back around.  Of course they do not have to answer to Wall Street so perhaps that is why they are free to create new ways of attracting and retaining both employees and customers.  Can you imagine how an employee of one of these small businesses feels when his or her employer comes to them with a good will gesture, in the form of Employee Recognition, instead of a layoff notice, like he or she has been reading about each and everyday?  Employee Recognition does create engaged employees, engaged employees do create engaged (loyal) customers, but the business ownership has to take that step.

I am going to be really looking at this as our country goes through the next few months of this downturn (is it an R thing yet…I actually think it is).  I am betting on those businesses, big or small, that take steps to recognize their best assets, employees, during times like this especially.  In the long run, that investment in employee recognition will pay off far better than the short term thinking of those CEO’s who lay off their best assets and then when things turn around, try to lure them back.

Safety Incentive & Recognition

I have had several discussions recently with Safety Professionals about their safety incentive and recognition programs.  The trend I am seeing is that while management views these safety incentive and recognition programs as important, the funding for these programs is extremely tight.  As a result, many of the safety incentive and recognition awards are not exactly what the audience would be interested in and thereby the programs fail over a short period of time.

Some safety professionals are stead fast about doing their own programs, even trying to copy safety and incentive recognition program ideas they receive through proposals from safety incentive and recognition companies.  What these poor souls do not realize is that the success of your program is not all about the awards or the cute idea you borrowed.  It is about having a long range plan, one the unfolds and changes behaviors over time.  Conducting monthly drawings by pulling names from a hat or establishing your own version of safety bingo will not work, plain and simple.

Save Gas!

I know, you probably think this is the wrong blog for a topic about saving gas.  In fact, if you are looking for a way to save gas not just for yourself, but also for those who you may be buying gifts or awards for, I have a great solution!

Our Gift Albums, which provide your gift or award recipient with a choice of over 40-50 items to select, is a perfect gas saving solution!  You can order the gift album right from your computer, no need to drive anywhere.  The gift album is sent directly to your award or gift recipient.  Once they browse through the choices and make a selection, they can order it right from their computer and have it delivered right to their front door!

One price includes ALL of this for each gift album!  Prices range from $16.00 to $1450.00.  What a great gas saving idea for both parts of a gift or award process!  Check it out at www.businessgroupinc.com