TOP 10 CHANNEL INCENTIVE STRATEGIES
OF TOP-PERFORMING COMPANIES
81% of top-performing organizations utilize channel incentive programs compared with 59% of average organizations, but that’s not all that sets them apart. Take a look at how they view their programs differently.
1
79%
Say their executives believe rewards and recognition are a critical tool in managing company performance versus 54% of average companies.
68%
Believe rewards and recognition influence behavior versus 36% of average companies.
68%
Believe their program reflects who they are as a company versus 38% of average companies.
They’re also more likely to engage an outside partner’s reward and recognition expertise, the benefits of which can pay for the investment itself—and then some.
2
They Have Strong Executive Support
Executives and leaders are driven in large part by results. If gaining leadership advocacy is a challenge, make your case using proof.
3
They Streamline Their Initiatives
42% of top-performing organizations said they had a single non-cash program (rather than multiple) for the entire company compared with 17% of average organizations.
A streamlined approach offers clarity, which impacts engagement. According to one Quantum Workplace study, employees who didn’t have a clear understanding of the [opportunities] provided to them were 20 percent less likely to be engaged than employees who did.
3
They Streamline Their Initiatives
42% of top-performing organizations said they had a single non-cash program (rather than multiple) for the entire company compared with 17% of average organizations.
A streamlined approach offers clarity, which impacts engagement. According to one Quantum Workplace study, employees who didn’t have a clear understanding of the [opportunities] provided to them were 20 percent less likely to be engaged than employees who did.
4
They Budget Based on Operating Income
Unlike average companies, top-performing companies are more likely to budget programs based on operating income versus gross profit or margin.
The takeaway here? They view their programs as investments, not expenses.
5
They Give Higher-Value Payouts
Top-performing companies feature higher non-cash incentive payouts annually for the average channel participant.
And, they offer higher values for the top award a channel participant can earn.
7
They Put Rewards Within Reach. For Everyone.
67% aim to ensure each participant receives a recognition or reward at some point during the program versus rewarding only for “truly exceptional” performance, compared with 31% of average companies.
Though one size doesn’t fit all, it is possible to design a recognition and reward program that motivates the masses.
8
They Prioritize Analytics
A defined measurement plan and insightful analytics should be foundational to every incentive program—they promote strategic, continual refinement en route to goal achievement.
9
They Communicate Strategically
78% leverage existing communications (e.g. corporate communications) to reinforce their programs versus 42% of average organizations.
Integrating program details into broader company communications provides big boosts in reach and influence. And it offers clarity, which ultimately drives engagement.
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