In the current economy, partnerships are essential for businesses to ensure profitability. Quite a few companies depend on channel partner networks to achieve success through expansive market reach and unparalleled marketing. However, setting up a channel partner program is just one part of the strategy. You must ensure that your partners are driving growth and…
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Innovative Employee Recognition Ideas For The Modern Workplace
Rewards and recognition are the most underrated programs that companies use to improve employee motivation. Even the companies that organize events to reward top-performing employees follow such a templatized and impersonal format that it fails to bring desired results. Companies need to understand that the rewards and recognition program is not just about awards, but…
Leveraging Employee Rewards for Employee Appraisal
Recognition has emerged as the top driver of ‘great work’ with 37% of employees voting for it in a survey by Great Place to Work. And one way a company recognises their employees is through appraisals. Appraisals are probably the most important professional event for employees. It typically signifies the day that their efforts will…
Transforming Channel Loyalty Programs With Data-Driven Insights
Channel loyalty programs are essential for businesses to accelerate sales and drive profitability from their sales partners. Having said that, companies must implement these loyalty programs without bias or confusion. Businesses must rely on performance metrics and revenue details before deciding on whether or not to reward a particular partner. Although most businesses sit on…
Beyond Bonuses: Creative Incentives To Boost Employee Morale
Employee rewards programs have the potential to transform your workplace into a hub of positivity and productivity. But for that to happen, you must overhaul a few things including employee performance bonuses. Instead of going for a one-time lump sum payout, you can implement multiple reward options. It is primarily because, like salaries, bonus amounts…
Channel Partner Incentives: The Secret Sauce For Sustainable Business Growth
For businesses to thrive and grow sustainably, they must build strong partnerships and collaborations, particularly with channel partners. A recent Forrester study disclosed that over 73% of global trade flows through channel partners. These stats further affirm the crucial role that channel partnerships play in enhancing business sales and revenues. Since these partnerships run on…
Measuring ROI Of Your Employee Recognition Program: Key Metrics To Track In 2024
An overwhelming majority of 61% of employees already seek better opportunities, as per Achievers report. This shouldn’t come as a surprise because employees value being recognized more than better pay. Yet companies don’t seem to leverage employee rewards and recognition programs. They are not just essential to retaining high-performing resources but also to building a…
The Psychology Behind Understanding Employee Motivation In The Workplace
Employee motivation is one of the core tenets of a successful business. A motivated employee accounts for better productivity and propagates positive vibes at the workplace. It is infectious and multiplies productivity allowing companies to drive revenue, and efficiency. Companies seeking sustainable growth need help with managing an increasing workforce and identifying ways to motivate…
Guide To Incentives That Your Channel Partners Want In 2024: What Works And What Doesn’t?
Channel partners are critical for business expansion regardless of the size of your operations. They are an avenue for increasing sales and enhancing your brand presence. However, the success of your relationship depends primarily on the channel partner incentives you offer. These are not just about monetary value, but what and how they express your…
