Platinum insures an organization accomplishes EMRA through it’s unique “A.C.E. Structure” when creating and implementing incentive reward programs.

Critical Elements of Rewards to Insure Success

The cornerstones of Platinum’s successful incentive programs are embedded in three simple, but often times overlooked or undervalued elements that in fact make all the difference in the world.

Although overstated in many applications, when it comes to rewards…..

“The thought……..absolutely, positively does count!”

The Three Critical Elements to Success

Element #1 - Know Thy Recipients Personally !

Tapping into Non-Work Related Passions May sound obvious, however do you know some of your top performer’s:

? Favorite Sport
? Place they’ve always dreamt of visiting
?. Favorite Sports Teams
? Favorite wine
? Sporting Event they’ve always wanted to attend
? Favorite hobby …..i.e. golf, cycling, yachting, etc.
? College Alumni Team
? Favorite Food
? Place they’ve always wanted to take their children
? Experience they want to have with an elderly parent before time runs out

Tapping into an individual’s non-work related passions and giving an opportunity to “earn this experience” is the most powerful strategy in using incentives.

Top performers come in different shapes and sizes and can be either gender. Married or single. Differ in age by 5 to 35 years. Be well traveled or not. Like gadgets or be “low-tech”. The reality is, no one type or kind of reward can be a high motivator given today’s workforce.

Doing The Homework

The research has to be done upfront to tap into the incredible energy and creativity that top performers and non-sales personnel can produce when highly motivated. Platinum Incentive Solutions efficiently and innocuously gathers this data from prospective
recipients and creates and maintains a “Performer Profile” to insure that reward options are in alignment with aspirations and passions.

Element #2 - Aspirational Value is a Must !

The most exciting and motivating rewards — those that produce the actual desired results — are those where personal aspirations and passions are in alignment with what is being awarded. Of course this means providing choices.

Avoiding the “oh, the trip was nice but I would have much rather gone to……” is something that needs to be avoided like the plague.

Occasionally, a blanket approach can work if the recipient group is small and the reward is a luxury item that almost any one would value it greatly, such as a……..
                                  …..stay in a 5 Star Resort in Hawaii or attending the Super Bowl.

The Underlying Rule is…

"Unless there is a serious team-building or customer networking aspect to a
reward, it must have extreme personal value to the individual receiving it".

Element #3 - Quality Matters

Although it seems obvious, rewarding with inferior quality is without question one of the biggest blunders made. In fact, research shows that it is better not to do any type of incentive program than to do one using cheap or inferior products and services.

Scores of “de-motivating” horror stories abound from company’s that;
— Chose fleece pullovers & cheap trinkets with a corporate logo on it to say “thanks”
— Took a trip picked out by a manager who thought that since he himself had always wanted to go to Chicago for the St. Patrick’s Day Celebration —— their sales staff did too?

Not only can the “thought” not count, but when you combine that with inferior, cheap gifts it can send top performers heading to their laptops to start sending out resumes!

Although Quality is listed third in Platinum’s Critical Elements of a Reward it is by no means the least important —– it is perhaps the most. Why? Because even if a quality reward isn’t in perfect alignment with a recipient’s personal aspirations they know they have at least received something of unquestionable quality.

Ensuring Unquestionable Quality……

When helping organizations choose reward items for it’s recipients, Platinum uses a standard
set forth by the Luxury Institute, a New York City-based research firm that has done exhaustive
studies on what is perceived, and what is actually accepted as quality, luxury items.

These four elements are:

1. Consistent and superior quality
   - Reinforced by using desired destinations & top rated brands.

2. Uniqueness and exclusivity
   - Not available to most people, must be on “the in” to receive.

3. Valued by people who are admired and respected
   - Associates & Peers would love to be a recipient of the reward

4. Make recipients feel special
   - To receive you have achieved more than most, not anyone receives this gift.

 The Underlying Rule Is...

"The idea behind an incentive award is to give a loyal customer or top performer an experience or product that they would not — or could not — buy for themselves".