The Challenge

A leading pharmaceutical company was looking

for ways to retain its top performers, as well as

reward and recognize sales performance and

field-related activity. They wanted to consolidate

several division-specific recognition programs

under a single umbrella that would give managers

a flexible way to recognize and reward the

field sales force as needed, rather than once a

quarter or annually. To prove the program’s value,

stakeholders would need to understand how

the right reward system could reduce employee

turnover, increasing their total ROI. >

Maximize ROI Through a Reimagined Rewards Program

The Results

6.9% sales goal achievement

50% lower turnover rate

$111 million in cost savings

1,000% program ROI exceeded

95% of eligible associates earned recognition

490 budget owners (managers) issued 39,196 recognitions

Interested in starting your own rewards program? Consider these four guiding principles:

Inform Who are you trying to motivate and why? Your employees, dealers, channel partners, sales reps, principals

or all of the above? What are you saying to these different groups?

Engage How are you communicating the program? Do you have channels like Yammer,

Slack or a newsletter already in place? What’s your cadence for reminders? Are you using short-term contests as well as longer reward cycles?

Reward What will entice team members to move up, driving your top performers: Gift

cards? Merchandise? A travel experience? It’s important to know your audience and build a flexible reward strategy including a variety of rewards.

Evaluate Keep track of your rewards spending and measure it against increases in

employee satisfaction and retention. Any turnover costs real dollars in recruitment and onboarding, as well as less-tangible costs, such as loss of institutional knowledge and experience. It’s important to keep stakeholders apprised of real metrics to keep your programming growing!

To learn more about how you can create a successful rewards and incentive program with the features and flexibility you need and your team members want, check out our White Paper, Build Your Incentive and Recognition Strategy for Growth.

Our Solution PerformX® by One10 is a point-based rewards platform that enabled the company’s managers to reinforce desirable performance by giving points “on the spot.” Points are earned through manager-to-employee recognition for field- related activity and meeting or exceeding sales goals. Because awarding points is quick and easy, managers were able to recognize great performance as it happened.

In addition to the performance-based rewards, One10 designed a peer-to-peer recognition module for their teams, including eCards celebrating work anniversaries, teamwork and birthdays. Managers use the responsively designed web-based portal for recognition activity. Team members can monitor their online account statements and point accumulation, as well as redeem the reward they really want from an eCatalog. Participants’ points are banked

until redeemed for that catalog merchandise, retail gift certificates, or individual travel awards.

Our Analysis Good news! As our client discovered, not all recognition needs dollars attached. Cash is no longer king, especially among younger workers looking for unique experiences or an excuse to spend rewards on something other than bills. Cash is transactional, but rewards are lasting and memorable. That’s why it’s important to offer options to give your team the power of choice.

Read White Paper

Incentive and recognition programs improve performance. If selected, implemented, and monitored correctly, programs—with awards points — increase performance by an average of 22% – Incentive Research Foundation

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