In general, incentives are anything that persuade a person to alter their behavior in the desired manner. It is emphasized that incentives matter by the basic law of economists and the laws of behavior, which state that higher incentives amount to greater levels of effort and therefore higher levels of performance.
A prize is an award to be given to a person or a group of people to recognize and reward their actions and achievements. Official prizes often involve monetary rewards as well as the fame that comes with them. Some prizes are also associated with extravagant awarding ceremonies, such as the Academy Awards.
Haworth Inc. is a privately held, family-owned office furniture manufacturer headquartered in Holland, Michigan, United States. Founded in 1948 by G. W. Haworth, the company designs and manufactures seating, tables, movable walls, panels, storage, and wood casegoods. Haworth's furniture pieces, combined with interior design and technology, are intended to create a focus on “organic workspaces that help people perform their best.” Haworth employs 7,500 workers and has 650 dealerships in more than 120 countries. 2021 global sales reached $1.96 billion, a 6.2-percent increase from 2020.
Theory X and Theory Y are theories of human work motivation and management. They were created by Douglas McGregor while he was working at the MIT Sloan School of Management in the 1950s, and developed further in the 1960s. McGregor's work was rooted in motivation theory alongside the works of Abraham Maslow, who created the hierarchy of needs. The two theories proposed by McGregor describe contrasting models of workforce motivation applied by managers in human resource management, organizational behavior, organizational communication and organizational development. Theory X explains the importance of heightened supervision, external rewards, and penalties, while Theory Y highlights the motivating role of job satisfaction and encourages workers to approach tasks without direct supervision. Management use of Theory X and Theory Y can affect employee motivation and productivity in different ways, and managers may choose to implement strategies from both theories into their practices.
SteelcaseInc. is an international manufacturer of furniture, casegoods, seating, and storage and partitioning systems for offices, hospitals, classrooms, and residential interiors. It is headquartered in Grand Rapids, Michigan, United States.
Insight Enterprises Inc. is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology (IT) capabilities for enterprises. Insight focuses on three, primary solution areas: cloud and data center transformation, connected workforce, and digital innovation. The company is listed on the Fortune 500 and has offices in 19 countries.
An incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance.
Employee retention is the ability of an organization to retain its employees and ensure sustainability. Employee retention can be represented by a simple statistic. Employee retention is also the strategies employers use to try to retain the employees in their workforce.
Next Jump is a privately-held technology and services company that provides employee engagement and rewards programs to large corporations. The firm was founded in 1994 by Charlie Kim and is headquartered in New York City, with offices in Boston, San Francisco, and London.
Maritz is a sales and marketing services company that designs and operates employee recognition and reward programs, sales channel incentive programs, and customer loyalty programs. It also plans corporate & association trade shows, meetings and events, and offers a customer experience technology platform.
Diversified Global Graphics Group — (DG3) is a printing firm located in Jersey City, New Jersey. The company also has offices in London, Hong Kong, Manila, Tokyo, and Sydney.
Diet rewards are incentives, such as cash payments, to individuals to maintain good health and wellness by a healthy diet, particularly a diet aimed at reaching a healthy weight. This has been a trend in both the US and the UK. The Biggest Loser reality TV series increased public awareness of the idea of losing weight for cash and the importance of regular weigh-ins.
Employee motivation is an intrinsic and internal drive to put forth the necessary effort and action towards work-related activities. It has been broadly defined as the "psychological forces that determine the direction of a person's behavior in an organisation, a person's level of effort and a person's level of persistence". Also, "Motivation can be thought of as the willingness to expend energy to achieve a goal or a reward. Motivation at work has been defined as 'the sum of the processes that influence the arousal, direction, and maintenance of behaviors relevant to work settings'." Motivated employees are essential to the success of an organization as motivated employees are generally more productive at the work place.
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.
Commute.org is the transportation demand management (TDM) agency for San Mateo County, California, United States. Structured as a public joint powers agency, Commute.org is governed by an 18-member board made up of elected officials from 17 member cities and towns as well as the County of San Mateo. In addition to the Board of Directors, there are also standing committees, Supervisory and Finance, which provide guidance and oversight to the agency.
Blackhawk Network Holdings Inc. is an American privately held company that operates in the prepaid, gift card and payments industries. It sells branded physical and digital gifts, phones, prepaid debit, and incentives cards online and through a network of global retailers. Blackhawk's network reaches people through a number of different channels including in-store, online, mobile, and incentive. Blackhawk headquarters are in Pleasanton, California and the company was incorporated in 2006.
Sakti3, a wholly owned subsidiary of Dyson Ltd., is a solid-state battery company based in Ann Arbor, Michigan. Dyson once stated that it was “committed to investing £1B in battery technology over the coming years, and Sakti3 is an essential and exciting part of that program.” However, Dyson later wrote off much of its investment in Sakti3, indicating that it could no longer be valued at the $93 million price that Dyson had paid. Dyson eventually also cancelled its plans to develop an electric vehicle.
Hawk Incentives, is a rewards-based incentives company that design, implement and manage programs for other companies. Hawk Incentives is based in Texas.
Employee recognition is the timely, informal or formal acknowledgement of a person's behavior, effort, or business result that supports the organization's goals and values, and exceeds their superior's normal expectations. Recognition has been held to be a constructive response and a judgment made about a person's contribution, reflecting not just work performance but also personal dedication and engagement on a regular or ad hoc basis, and expressed formally or informally, individually or collectively, privately or publicly, and monetarily or non-monetarily.
Acrisure is a financial technology and insurance company headquartered in Grand Rapids, Michigan. The company was initially created to acquire insurance companies in the Midwestern United States and has since expanded nationally. In 2022, Business Insurance recognized Acrisure as the 8th largest insurance broker in the world.
