The demands of a changing workforce are creating increasing demand for incentive professionals to boost...
Research / United Kingdom Non-Cash Reward & Recognition: A Survey of Organisations
by Intellective Group
Overview Top Findings Company Profiles and Industries Represented Non-Cash Reward and Recognition Employee Reward and Recognition Employee Programme Features Sales Reward and Recognition Anticipated Budget Changes Programme Objectives Programme Metrics Enhancements Awards Group Incentive Travel Individual Incentive Travel Georgraphic Regions as Destinations Group/Individual Incentive Travel Mix Anticipated Changes: Incentive Travel Accomodations Anticipated Changes: Incentive Travel Destinations Merchandise Prepaid Digital Merchandise/Prepaid/Digital Rewards Campaign Strategy Suppliers Core Issues Awareness of Industry Associations Attitudes: Rewards and Recognitions (R&R) Attitudes: Engagement, Recruitment, and Retention Company Growth
Topics including, but not limited to:
Results are weighted to reflect the actual proportion of U.K. companies by annual revenue size.
There are 209,515 businesses in the UK with more than £1 million in annual revenue; 87% of these firms are small businesses, with revenue between £1 million and £9.9 million. Nearly two-thirds of UK businesses use non-cash reward and recognition.
Industries Represented:
Majorities of U.K. companies offer non-cash reward and recognition to employees, salespeople, distributors/channel partners, and customers.
Within companies using non-cash rewards, the majority (81%) offer non-cash employee reward and recognition. Seven in ten (71%) companies report employee reward and recognition budgets of less than £100,000. Per employee spend is varied.
Companies reward their employees for a variety of behaviours/activities; a majority rewards employees for best practices.
Within companies using non-cash rewards, the majority (72%) offer non-cash sales reward and recognition. Most (72%) sales non-cash R&R budgets are under £100,000. Per salesperson spend is varied.
The majority of companies offering non-cash R&R to employees and to salespeople anticipate their spend will either increase or remain the same in the coming year.
Relative to reward and recognition campaigns, prevalent objectives include improving productivity, morale, and innovation.
U.K. companies utilise a variety of sales, financial, productivity, employment, and training metrics.
Respondents were asked whether they are involved as purchasers of services related to different types of awards. This information represents the proportion of survey respondents who are involved in incentive travel, merchandise, prepaid, and digital awards at their companies (as purchasers of related services). A majority of U.K. companies offer incentive travel awards and half offer merchandise awards. It is sensible to infer then that the companies offer these programs to participants.
Many (58%) U.K. companies offer group incentive travel awards. Three-quarters (76%) have per person budgets of £999 or less.
Most U.K. companies offer group incentive travel awards.
Average group size increases with organization size.
Many (56%) U.K. companies offer individual travel awards. Most (69%) have per person budgets of £999 or less.
In the coming year, the vast majority (79%) of U.K. companies will choose European destinations for their incentive travel programs.
Many U.K. companies expect to change their group versus individual incentive travel mix in the coming year:
U.K. companies anticipate some changes relative to their incentive travel accommodations, as follows:
U.K. companies anticipate some changes relative to their incentive travel destinations, most notably increased international destinations.
Half (52%) of U.K. companies offer merchandise awards. Half (48%) have per person budgets of £999 or less.
Three in ten (31%) U.K. companies offer prepaid awards. Most (69%) have per person merchandise budgets of £999 or less.
Nearly four in ten (37%) U.K. companies offer digital awards. Half (52%) have per person merchandise budgets of £999 or less.
U.K. companies employ the full range of award types – merchandise, open and closed loop cards, gift vouchers, and digital media.
In the coming year, U.K. firms plan to increase their use of debit/prepaid gift cards and increase their merchandise selection. Some plan to add travel and experiences as options.
The majority (85%) of U.K. companies work with incentive industry suppliers in some capacity.
U.K. company reward & recognition stakeholders believe in reward & recognition as effective engagement, retention, and recruitment tools.
Two-thirds (67%) of U.K. companies have grown in the past year.
During the webinar Revisiting How to Maximize the Value of Your Incentive Destination, the IRF led a panel discussion with incentive professionals who attended the September event to discuss the report and talk about they have applied these insights and harnessed the motivational power of destinations.
Useful insights and benchmarks on merchandise, gift cards and event gifting. Focusing on European data, we discussed how incentive professionals are addressing current challenges, including rising costs and a tight labor market.
