Global Incentives Trends
We’ve scanned the globe to shine a spotlight on key incentive trends, insights and innovations to inspire and expand your knowledge of this ever growing sector.
Health incentives linked to wearable technology. Health and Wellness are fast growing industries and incentives for achieving goals, staying fit, getting healthy are a popular offer for many businesses. Technology allows users to track their progress and businesses are keen to offer incentives in return for the data.
Experiences are ever more important as countries and cities continue to emerge from lockdown restrictions. Holidays, concerts, restaurants, and tours are the experiential rewards and incentives that consumers are looking for.
Internal recognition programmes have seen an increase due to colleagues working from home. Companies are appreciating the importance of keeping staff engaged and motivated and have ramped up their engagement strategies for ensuring that productivity remains high, zoom fatigue isn’t causing exhaustion and having remote team building can still be achieved.
Vaccine Incentives - many companies and several governments, are doing what they can to provide incentives for employees who choose to get a Covid-19 vaccine, rewards are usually related to wellness and may include paid leave, or in some cases a charitable donation made by the company to a charity of the employees choosing.
Volunteering Incentives - the past 18 months have a sparked a new wave of volunteerism and charitable work, with many businesses encouraging and supporting a volunteer environment. Paid time off is given to enable employees to participate in local schemes or activities. Some companies offering to match fund. The employee is recognised throughout the business for the external work that they have undertaken.
B2B incentives and rewards marketplace is more and more essential for any loyalty programmes. White label marketplace options accept points redemption, points + cash, also integration with wallets, miles exchange.
In the US we are seeing more requests for specialty retailer offerings in gift card portfolios. This demand appears to driven by 2 major factors: 1. A desire for many Gen Z and Millennials to have their values align with the companies where they are spending their money 2. As a reaction to the pandemic, and people, of all ages, wanting to support local businesses.
In Africa, incentives have enjoyed a positive boost because sales have come under pressure. Many companies have had to focus on keeping their sales teams and sales channels motivated. In addition, virtual vouchers have taken over as the reward of choice, as it has no longer been practical to try and deliver vouchers to home addresses. This has caused those retailers who were not as advanced in their virtual offerings to fast forward their systems.