Fifty-five percent of the 1,002 respondents to the Maritz Poll claim that they are not happy with their company’s incentive programs, according to a company press release. These programs seem to have an affect on an employee’s willingness to stay with a company as well, with 66% stating that incentive award programs affect their future or continued employment at a company. This sentiment is even more prevalent among the younger generation, with 74% of 18 to 34 year olds believing this compared to only 57% of 45 to 54 year olds.
Employees believe that these packages could increase production as well. Sixty-eight percent of respondents assert that they would be motivated to be more productive if they were offered additional award opportunities. Once again, the younger generation agrees more with this sentiment, with 79% agreeing, while only 60% of older workers concur.
The survey also looked at common shortfalls in incentive programs: communication and progress. Forty-four percent of employees receive communication only at the start of a program. Only 33% of these people said they were happy with the program, while 66% of people who received weekly information stated that they were content. Regarding progress, 39% claimed that they received feedback only at the end of the program. Only 29% of these respondents were happy, a stark contrast with the 61% who claim they are happy while receiving weekly feedback.
When addressing the options within an incentive program, 73% claim that they prefer to have the option to chose from a variety of awards rather than have a pre-selected item.
The Maritz poll, conducted in September, featured responses from 1,002 randomly selected employees. The poll was conducted by Maritz Incentives ( www.maritz.com ), a provider of reward and recognition programs.