IRF 2020 Trends Report
Each year, the IRF releases a new “Trends Report” to help program sponsors, developers and incentive professionals stay up to date on what’s affecting their programs.
In 2020, we can expect more executive support of programs perhaps as a result of the growing trend among program owners to justify their investments with more detailed program reporting and analysis. Nearly twice as many programs in 2020 will invest in analyzing their programs and using more tangible metrics like sales, revenue, employee turnover, market share gains and customer satisfaction. So, it’s no wonder some 94% of executives in top performing firms are strong advocates for incentive programs seeing them as a competitive advantage.
This year’s IRF Trends Report also found more and more companies casting wider nets to more participants. Program sponsors have found a wider reach offers better results versus simply rewarding top performers exclusively. Top performing organizations are 64% more likely to operate a program designed to engage all their participants using awards like merchandise, gift cards and even local experiences to help move mid-level performers in the right direction.
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