Isn't A Paycheck Enough?
Well, not if you want the kind of performance and loyalty that it takes to excel in today's competitive business environment. Doing more, with less is a way of life in business today. According to every major employee survey for the last 50 years, the number 1 factor in job satisfaction is not money. It's recognition and appreciation. Money ranks 6th. But most managers don't know how to systematically recognize and reward positive behaviors among their employees. In addition, lack of recognition is the number 1 reason good employees leave their jobs. What does it cost you to replace a valuable employee? One and a half times their annual salary! Consider: almost every top executive in every industry receives a major portion of their income from bonuses or rewards. Why not do the same for all your associates? Your employees will perform better and stay longer with an effective incentive and recognition program. It's human nature, and smart business.
Do Safety Incentives Cause Injury Hiding?
Poorly designed programs do, but we've trademarked a process that avoids that. We'll design a program for you with rules that are carefully designed to ensure injury reduction without injury hiding. If you're worried about injury hiding and would like to hear more, just give us a call.
Can't We Do This Cheaper Ourselves?
Many people think that all you have to do is buy a few gifts and give them away. Other people think that they can save money by buying cheaper gifts. Unfortunately, some people considering incentive plans get hung-up on gifts and pricing. Of course, giving quality gifts while paying reasonable prices is very important, but the bigger issue is, does the program work? An incentive program could be free, but if it doesn't cut accidents, boost sales, or produce money-saving ideas, then it is a failure. We provide you with more than 50 years of experience that will help you develop the programs you need to show meaningful results. With our turnkey programs, you won't waste valuable time or money trying to reinvent the incentive wheel. Add up the costs of paying income taxes, buying Disney Dream Vacations, buying merchandise, warehousing it, printing catalogs and scratch-off tickets, taking orders and handling defective gift returns and all the other benefits we provide and you'll agree that Star Bucks gives you more bang for your buck!
How Do We Cost Justify Incentive Programs & How Much Should We Invest?
It's easy to see how quickly poor employee performance can burn up profits. With a little more analysis, you can see how improved employee performance can add big bucks to your bottom-line. Just give us a call and we'll be happy to help you cost-justify your program. Most of our clients spend between $25 and $100 per employee ($75 is the average) as their annual incentive program budget. Remember, our customers report 5 dollars in savings for every dollar they invest with us. Whatever your major goals are, we can help you determine the best program to achieve success. Best of all, we can work with any budget.
Isn't Cash King?
In a word, NO! Sure, if you take the unscientific approach and ask employees if they'd rather receive cash or gifts as incentives, they'll say, Oh, I'll take the cash. However, if you simply point out that they'll lose 40% of the cash to taxes, while a gift can be tax-free, most employees will choose the tax-free gift instead of cash. Remember, you have to pay FICA, Social Security, and more taxes on cash and store gift certificates. A plant in South Carolina found that of their $20,000 cash incentive budget, only $11,000 actually went to the employees, while $9,000 was wasted on taxes! Even more important, cash incentives are simply not as effective as merchandise and travel. Goodyear recently tested a promotion with half of their 900 dealers on a cash incentive, and the other half had merchandise as their incentive. The merchandise program was twice as effective as the cash. Cash is quickly spent on groceries or household bills, and soon forgotten.