ENGAGEMENT is the Heart of a Successful ROI Incentive Programs
Program participant engagement, employee engagement, support staff engagement, management engagement, finance engagement, and really any stakeholder for that matter is the secret to achieving your business objectives. Sales growth is only one of many potential objectives, but alone may not produce the incremental bottom line profit you're really after. A well designed, strategic incentive program focuses on changing the right behaviors at the right time with the right people. What we are talking about is company wide improvements and that does positively impact profit.
Yes, we are all about the numbers and increasing incremental bottom-line profitability implementing Dawson’s ROI Model, but the question one needs to ask is…"What needs to happen to drive desired results and favorable outcomes?"
To know what that is you must stop focusing on the trip, the awards and the corresponding budget as your starting point.
If you don’t start with the trip and the trip budget, then where do you start?
The only way to ensure TRUE ROI is to focus on the BUSINESS FIRST.
You must first know your long-term WHAT before you can implement a short-term HOW. Put in other words create a strategy before you implement a tactic and that includes exploring and identifying:
- Opportunities within your business cycle,
- Hard objectives and the soft objectives alike,
- Short-term needs and long-term goals,
- Market conditions,
- Economic Condition,
- Government Regulations,
- …and knowing if your business can adequately support increased demand.
Then and only then do you design and structure the Incentive Program.
We know the Dawson ROI Model is complex to implement, at least that’s what folks in the Incentive Industry had to say about it over the years, yet the beauty of the model is its simplicity. The Dawson ROI Model is a process that is strategically laid out in Phases, with us it is never an all-or-nothing engagement:
Our ROI Incentive Programs drive change for the longevity of the business rather than a one-off, short-term result…
No more paying someone to tell you what they think you should do and waiting, crossing your fingers, hoping you achieve your objectives when all is said and done. No more wondering if the incentive program produced the results rather than other initiatives you implemented at the same time. We can prove attribution.
Our Recipe for Success
Once we have an understanding of your incentive program history and performance we will work with you to:
- Develop ROI Incentive Program objectives that provide business solutions for
improvements you would like to make within your company.
- Perform an Impact Analysis of your ROI Incentive Program on the key
departments within your company and your program participants.
- Develop an ROI Incentive Program budget that considers all direct and indirect
- Create a program rules structure that addresses your ROI Incentive Program
objectives, and provides other long- and short-term benefits to your company.
- Measure the results of your ROI Incentive Program in financial and nonfinancial
terms for the duration of your program (not just at the end).
We partner with you through the entire program. That means we are invested in the outcome right along with you. With us you won’t have a huge management fee that you have no idea if it will actually pay off. We help you see the potential ROI of your incentive program up front, and then work with you for the duration of your program to help you achieve your desired objectives (not just the financial ones).