A Thing
The Green SheetGreen Sheet

Tuesday, April 10, 2012

Reward programs lift profits over threefold

Results of International Research Foundation research prove the effectiveness of non-cash reward and recognition programs to substantially increase business' bottom lines. Companies that implement reward programs, such as those tied to prepaid cards, can realize an average revenue increase of 9.6 percent, while companies that don't have reward programs see only 3 percent growth, the IRF found.

The findings, based on research conducted by the Aberdeen Group and published in Sales Performance Management 2012: How Best In Class Optimize the Front Line and Grow the Bottom Line, showed that organizations providing non-cash reward/recognition (R&R) programs for their employees had an average year-over-year annual corporate revenue increase of 9.6 percent, versus 3 percent for all other companies.

Additionally, R&R providers had:

  • A 2.1 percent year-over-year increase in revenue per sales, versus a 0.7 percent decrease for all others
  • A 1.6 percent year-over-year increase in team quota attainment goals versus a 2.2 percent decrease for all others.
  • A 34 percent shorter sales rep time-to-productivity and 10 percent shorter sales rep time-to-hire for all others

The report can be accessed at www.theirf.org/research/content/6085642/rewards-and-recognition-as-a-vital-compensation-component/ . end of article

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
A Thing