Employee engagement is a primary concern of business leaders, and according to most employers is arguably the most important aspect of a company’s productivity and operations.
To keep employee motivation and engagement at peak levels, employers take advantage of incentive and rewards programs to not only enhance productivity, but to also help boost employee retention rates.
One company utilizing travel incentives to create a more closely knit company is TD Ameritrade. Travel Incentive manager Ken Juel revised the company’s existing sales incentive programs.
The prior programs were focused solely on the sales employees, excluding spouses. Juel saw a definite business need for expanding and enhancing the incentive programs to include spouses. This made a difference in employee morale and motivation.
Juel told Financial and Insurance Meetings that two new incentive programs for service employees were also initiated. “The service side is very complicated,” he noted. “The trick is to manage the business needs of the organization with the qualification requirements, while motivating associates to meet or exceed clients’ needs as well.”
Revising and initiating new incentive and rewards programs in TD Ameritrade has “resulted in more interaction between service associates and sales associates, and revenue from referrals has increased dramatically.”