The Incentive Research Foundation has a positive outlook on 2020 based on the linked research. A healthy economy and overall corporate growth are giving the Incentive Industry professionals reason to continue to be optimistic. Inclusion, budgets, and spending are all increasing. This trend is great news for everyone.
According to the data, budget continues to be the biggest consideration however it has its importance is declining and corporations are becoming more focused on appealing to the personal preferences of their employees. While all recognition is important it’s encouraging to see that corporations are moving away from a “one size fits all” approach to rewards.
Executive support continues to be a challenge and the most common reason for program cancellation however the use of analytics to determine a program’s merit is increasing drastically with satisfaction of participants as a key metric in evaluation.
The article is well worth the time.
Enjoy!