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The top 4 trends in incentives and rewards

The Incentive Research Foundation has just announced the IRF 2018 Trends Study which highlights key trends that will affect organizations, their products and services, and the workforce in 2018. The big news is that when it comes to recognition, reward and success, ‘ non-cash’ is king and gifting will play a core part in getting you the business success you’re looking for!

We’ve condensed the key findings down for you.

It’s key to build a brand- asset culture

All the brand assets you use should follow your unique USP and implementing this into your marketing is paramount. Branding isn’t just your logo – your internal culture is your brand – something which is now totally visible. As the study shows, it is the most powerful public-facing asset or liability you have! In 2018 and beyond, businesses will have more retained value based on intangible concepts such as culture and innovation will continue to be important. Building a brand from the inside out will become more critical to business success, according to the report.

What does that mean for you? It means getting rewards, incentives and investments in ‘the little things’ right.

Don’t neglect wellness

The report also showed that one of the largest number of net increases (38%) reported by IRF trend respondents was the inclusion of wellness/well-being components, focused on fitness, food, and comfort, in their programmes! If you’re building your reward or incentive scheme or costing up options, don’t neglect wellbeing and health.

Take a look at our new range of fitness trackers.

Merchandise Awards should be meaningful

The study has also shown that there is a strong desire in 2018 not for more choice, but for more meaning. We couldn’t agree more – in fact, it’s the ethos behind GiftedToYou. Instead of ‘mass appeal’ when it comes to merchandise, impactful products will be found through local sourcing = and as you can imagine, the ability to have them personalized and customizable will become more and more important.

Why not take a look at our gift selector?

Gift Cards are gaining momentum

You might have already heard that mid-size firms on average spend almost half a million dollars annually on gift cards across all their reward and recognition programmes, but the study also revealed that the largest firms each spend over $1 million annually! Are you using gift cards in your strategy? We offer a range on site – take a look here.

 

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