Recruitment is a competitive, demanding industry that requires its people to go the extra mile to secure the best clients and placements. To inspire a workforce to work a little bit harder, companies often introduce incentives to provide the motivation that is key to being a successful recruiter.
At Genesis Associates, we decided to look at our own people and their performance to see if the type and length of incentive scheme made a visible impact on profits. Over a one-year period we ran three separate incentives: the first was a longer incentive trip to Vegas, the second a mid-length incentive for a trip to Barcelona and the third was a boys vs. girls competition that just lasted a week.
Surprisingly, it was the mid-length incentive that was most successful, generating £25,000 more profit a week than the other two motivational drivers. This result wasn’t expected which is why we carried out an internal survey to determine our employees’ thoughts on the incentives and why is was the medium-length incentive had been so effective.
Through the survey and profits generated, it was clear that there are significant benefits to running an incentive scheme. You can read more on what each employee thought of these motivational factors and how they felt it inspired them to work harder and why here: http://www.genesisassociates.co.uk/media-hub/experiment-incentives/