As our economy continues to struggle, a pressing issue on every business owner’s mind is how to boost the bottom line. We can all agree that it’s time to scrutinize the P&L, especially considering the time of year. Unfortunately, many companies follow the traditional approaches of cutting expenses or increasing revenues. Employees play a significant role in how companies turn a profit, and getting smart about how your company is recognizing employees and what they are being recognized for can have a big impact on the bottom line. How do companies guide and reward employees to adopt and repeat the make-or-break behaviors they need from their workforce?
The right employee recognition and rewards program allows companies to set expectations for recognition around key business metrics and reward people for having such a direct impact on the bottom line. Here are some examples of how YouEarnedIt is helping companies manage their P&L:
Safety Programs: A large logistics company is focused on improving plant safety as a key business initiative. To make sure every employee is practicing safe workplace behaviors, they are using YouEarnedIt to recognize and reward workers who consistently demonstrate proactive safety behaviors.
The result: fewer injuries and reduced lost capacity in their plants .
Sales Activity: An organization focused on increasing revenues has targeted sales activity as their key driver. This client is rewarding sales people for lead generation, system demonstrations, and closed leads. The more activity a sales person has, the more recognition they receive, and the greater the revenues for the company.
The result: more prospects mean more new clients.
Living out the Culture: Many companies believe that their success and growth is a direct reflection of employees’ ability to live out the values and culture and extend this level of service to the customer-base (think Zappos!) One client believes in this so much that YouEarnedIt has become a public way to recognize and reward employees when they demonstrate a core value…period. The company is putting their money where their mouth is by rewarding employees for upholding its promise to customers.
The result: customer loyalty increases with great service.