New IRF Study Reveals Reward & Recognition Strategies Of Top Performing Manufacturing Companies

July 14, 2020

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The Incentive Research Foundation is pleased to release What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards, a deep dive into the results of the manufacturing / automotive segment included in the 2020 IRF Top Performer Study, released earlier this year. The study identifies the non-cash rewards strategies and tactics used by top performing manufacturing companies and provides benchmarks and best practices to help manufacturing companies design effective non-cash rewards programs.

“Many portions of the manufacturing industry, such as automotive, were among the most challenged as a result of COVID-19. As the industry recovers, it will need effective strategies to achieve high levels of productivity among sales personnel, channel partners, and employees,” said Stephanie Harris, IRF President. “What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards explains how the effective use of incentive programs can help give manufacturing companies a competitive advantage.”

What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards summarizes findings from data collected across multiple manufacturing firms and compares the results of top performing manufacturing firms to those of their average performing counterparts. The report first presents key overall findings, then drills down to results for sales reward programs, channel partner reward programs, and employee reward programs.

Insights from the What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards include:

- Executive sponsorship increased for both top performers and comparators – although the gap is still large
- Program reach is expanding for both top performers and comparator companies
- Program collaboration is high among top performers and improving within comparators
- More incentive trips are being awarded based on objective qualifications
- Unlike other sectors, qualification criteria are getting simpler for manufacturing top performers
- Both top performers and comparator companies are offering a greater variety of rewards
- Top performers understand the importance of flexibility and relevance of rewards

To download a copy of the full study and white paper, please visit the IRF’s webpage for “What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards”

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