No matter how well designed your Enterprise Engagement program may be, if the reward element of your employee recognition program doesn’t meet the needs of your user community, you will not achieve the full potential of your incentive programs. According to current research led by the IRF, the Incentive Research Forum, a top US incentive research firm since 2008, there are five top trends to watch.
- Budgets are back- the economy has finally given way to increased budgets with the biggest changes being increases and depth to current incentive programs.
- Limited Luxury- it doesn’t come as a surprise, that electronics are at the top of the list, followed by apparel, golf, jewelry and luggage rounding out the top five.
- Experience is Essential- experience related option such as events and spa have seen a 25-30% growth within incentive programs.
- Watch Out for Wellness- there is no escaping the health conscious marketing efforts by every media outlet, regardless of your demographic, this area will keep growing.
- Apps in Everything- technology keeps popping up in everything. Look for typical lifestyle products like watches and sunglasses to now include apps and continue on from there.
Editor, Melissa Van Dyke feels that:
“As merchandise programs continue to expand and see success, anticipate a demand for products that connect achievers to bigger experiences, that support their desire for healthier living, and that provide them with the opportunity to interact digitally.”
With a few design tweaks to your Engagement or Incentive Programs, you will know where to concentrate your efforts, offer your users the most current trends and offer the choice that keeps levels of engagement high, leading to increasing success of your program and getting you closer to meeting your business objectives. Check out our resource page for some ideas.
What other merchandise trends have you found successful with your incentive programs? Let us know…