Study Highlights Reward, Recognition Practices Of Top Performing Tech Companies
Incentive programs find a willing audience among successful technology executives. The Incentive Research Foundation (IRF) has shared the results of a recent survey revealing that executives at top performing technology firms are twice as likely as those at average performing firms to regard their reward and recognition programs as a competitive advantage.
The IRF’s “What Top Performing Technology Companies Do Differently for Incentives and Rewards” identifies the non-cash rewards strategies and tactics used by top performing technology companies. Among the findings is that executives at top performing technology companies are 33 percent more likely than average performers to strongly agree that their reward and recognition programs are effective recruitment tools. Also, top performing technology companies are 22 percent more likely to structure their programs with the goal of reaching each participant versus only recognizing the top performing participants.
The survey also found that top performers are 25 percent more likely than average performers to look to outside partners for expertise on the best ways to recognize and incent their program participants. Also, among top performing companies, their average award value is $6,722 per person for their channel/dealer partner incentive trips, and they spend $124 more on their top incentive travel rewards for employee reward and recognition programs.
For more on the IRF’s findings, click here.