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Whatever the timetable for economic recovery, the industry will have to work harder to deliver effective incentives in both the b2b and consumer sectors, John Porter consults the oracle and asks key industry players how to nurture the green shoots.
Assessing the true state of the economy seems to depend largely on which letter of the alphabet you prefer. The fact that economists have resorted to using the shape of letters to define the downturn means that either A: the financial boffins believe we mere mortals are intellectually unequipped to understand their theories, or B: they have no real idea what’s going on either.
If it’s a ‘u’ shaped recession, we’re going to be bumping along the bottom for a while l yet, but if it’s ‘v’ shaped then a sharp upturn is due any day. On the other hand, if we’re in a ‘w’ shaped economy, then signs of a recovery are a false dawn that will be followed by more pain.
The incentive industry has been through the mill along with its customers and the rest of the economy. The danger for any business negotiating its way through tough times is that ‘fire-fighting’ – dealing with problems as they arise rather than planning strategically – quickly becomes standard business practice rather than the exception.
Consumers, to, seem to have changed. Added value promotions and incentives seem to have gone out of favour.
Spending decisions, from core spend such as the weekly grocery shop to discretionary choices such as where to eat out for a treat, are driven by discounts, two-for-ones and internet vouchers.
For an industry which is all about creating excitement, generating enthusiasm and motivating individuals to excel, this is clearly dangerous territory. Whatever the timetable for recovery, surely now is the time to start planning for the upturn and revive that all-important sense of ‘awe and wonder’?
Chris Price, Business Development Manager of Unmissable said: “Many companies have had to restructure and slim down their organisations to weather the conditions, and in many cases this has meant redundancies, lack of job security and reduced job promotion opportunities. Companies and employees need to work really hard to get on a solid footing before we will start to see organic growth.”
Case Study
UNMISSABLE’S GUIDE TO KEY THINGS TO CONSIDER WHEN PLANNING MOTIVATIONAL EVENTS AND ASCTIVITIES FOR GROUPS AND INDIVIDUALS
- Understand what motivates the workforce, ask for their input
- After an event as for feedback. Questionnaires work well but bear in mind that some people may prefer to respond anonymously.
- Link activities closely to the company’s goals for the year and their main message
- Ensure all activities chosen have an educational element but always ensure the overriding feeling is one of fun and reward
- Try to gauge what level of socialising will work best
- Think about how you will communicate the event and draw employees to it
- Make it easy for employees to participate in full – consider how they will get to and from the event, and any costs they may incur
- Take into consideration employees personal circumstances and commitments, e.g people with children may find it difficult to participate in events at weekends which are family times
- For activity events give employees tasks that will give them a chance to demonstrate a variety of skills. These events can be a great opportunity for non-management level employees to take on leadership roles
- Corporate days out are a great way to thank staff for their hard work and give everyone a chance to socialise out of the hierarchy of an office environment. Days out should not just be confined to top managers, it’s just as important to involve and invite employees at the lower levels
- What motivates staff more than anything is feeling that they are appreciated by their employers, corporate days are a great way of doing this
- Be creative when organising a team event, the more wacky the event the bigger the buzz
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