Before you set up your company incentive program, be sure to review this checklist and get all of your information together to ensure a smooth launch and ongoing success.
- Determine the behavior you are trying to change: Increased sales, improved morale, customer loyalty? What do you want for an outcome? What is the purpose of the program?
- Place appropriate value on the desired activity: How many points do you want to associate with each activity (i.e., you will get 10 points for being recognized by a co-worker, or 15 points for selling a particular product). Is the reward you are giving commensurate with the activity to be performed by the participants?
- Select an appropriate prize: Is it cash, merchandise, trips, gift cards, company rewards such as PTO? What will have the most impact with your audience?
- Verify how an incentive is earned: What do participants need to do, and how will it be checked to make sure it actually happened?
- Determine your metric for success: What do you need to see – increased sales, less employee turnover – that will show that the program is working? What type of reports will you want to view?
- How often will you pay out awards: Weekly, bi-weekly, monthly, annually?
- Pilot Program: What groups should you start the incentive program with to work out the kinks and get feedback?
- Promotion: How are you going to get the word out about the incentive program initially – and then ongoing – to ensure participation?
- Evaluate: After running the pilot incentive program, what will you look at to retool the program for mass distribution?
- Launch: Have you got everything in order? Is your incentive program manager fully prepared? Does the program work? Is your incentive award provider geared up and ready to deliver?
