Monday April 21st 2014

Incentive trends in 2013

Planning your company’s next incentive program?  Want to know “what’s hot and what’s not” when it comes to incentive program design and awards?  Check out The Incentive Research Foundation’s Fall 2012 “Pulse Survey” to read of the latest incentive industry trends.  While you can view & download the full report by clicking here, the report highlights included these findings:

The ‘average’ incentive program in the Fall of 2012…

  • Is less likely to incorporate a social media and/or CSR component (compared to Fall of 2011 findings)
  • Is more likely to incorporate a gaming component (up 6 percentage points)
  • Most likely remains a domestic destination rather than overseas (45%)
  • Increasingly involves the company Procurement department (38%)
  • Will have essentially the same budget (48%)
  • Will include a destination in North America (53%) or the Caribbean (46%)
  • Will involve more individual travel (32%)

incentive trends

The ‘average’ merchandise/noncash incentive program in the Fall of 2012…

  • Will be positively affected by the economy (50%)
  • Will have increased merchandise award values (36%)
  • Will offer more gift cards (31%)
  • Will include these types of rewards: Electronics (79%), Golf Items (68%), Luggage (66%) and Housewares (62%)
  • Will be a point-based program (82%)
  • Will have a slightly higher budget (42%)

Kudos to the Incentive Research Foundation for conducting their Pulse Surveys twice a year (Spring/Fall), asking thousands of Incentive industry Buyers (corporate planners, Incentive company staffers and program managers) & Suppliers (staffers at hotels, airlines, destination management companies, merchandise providers) for their opinions about trends affecting the industry.  As their press release states, “the IRF Pulse Surveys cover budget changes, specific program elements, incentive travel, merchandise/noncash rewards and other issues affecting program planning and implementation.”  Incentive Buyers comprised 53.7% of The Fall Pulse Survey respondents, while 33.7% of the survey respondents were Incentive Suppliers.

We’ll forward a link and highlights from the soon-to-be released Spring Pulse Survey once posted.   In the meantime, we’d love to hear your thoughts, in the comments below, regarding trends in your own company’s incentive programs.

Tell us what incentive trends would you like to see?

 

B StergosBob Stergos knows incentives.  He has been in the industry longer than anyone you know, guaranteed.  If you’ve got a question about incentives, Bob is the guy to ask.

If you would like to know more about incentive trends in 2013 email him:  BStergos@PerformPlus.com or tweet him @BStergos

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