FRONT COVER PROMOTION

Improve productivity and cut staff attrition rates

by Raegan Matthews

Business Incentives Manager

House of Fraser

YOU face twin ongoing challenges: improving productivity and retaining your staff.  While the downturn in the economy may have reduced attrition, it’s now even more important to recognise the contribution made by your best performers and create an incentives package that will establish your business as the employer of choice. 

Some enterprising call centres have already proved the power of incentive schemes.  Before embarking upon any kind of incentive programme, however, it is essential that you follow a few fundamental rules. 

•      Establish your objectives: these may include the need to address fundamental issues which already -- or could in the future -- impede your company’s performance, such as staff attrition, absenteeism, productivity, time-keeping and morale; or customer service levels, customer retention, and sales. 

•      Perhaps the most critical decision is the selection of an appropriate reward -- this needs to engage, excite and inspire.   If you have a diverse workforce which includes both men and women of differing ages, you must ensure that you offer a reward that will appeal to everyone.

This is one of the key reasons why gift cards and vouchers are so successful in incentive      schemes.  They are simple to administer, which is important to you, but also offer a vast array of products with which the recipients can ultimately treat themselves.  So choosing an aspirational retailer is key. 

With more than 60 stores, House of Fraser is the UK and Ireland’s premium department store nationwide, retailing inspirational brands across men’s, women’s and children’s clothing, beauty, homeware and the latest in electrical and electronic gadgets.  The appeal of the House of Fraser gift card and voucher is therefore obvious when it comes to pleasing all the people, all the time.  Both can be spent in store and online -- great for those who prefer to browse and buy from the comfort of home. 

As an employer, however, it is essential to you that the chosen reward is cost-effective and that the scheme is easy to administer.

When choosing your provider, remember that discounts are given against bulk purchase - you should expect between 2.5pc and 10pc, depending on order value.  Also consider whether your scheme will require awards to be made repeatedly.  The House of Fraser gift card holds no value until activated -- therefore there are no concerns regarding secure storage or delivery.  Gift cards can be sent out via normal post and activated, loaded and re-loaded with value at any time dictated by you.

Scheme structure and ongoing promotion and communication are the final components to a successful scheme.  Follow these guidelines and competitive advantage will be yours.

Contact Raegan Matthews at RaMatthews@hof.co.uk