10 Quick Tips On How to Plan A Corporate Incentive Program

There are a number of steps you must take to initiate a corporate incentive reward program.

Here’s what you need to do:

1. Do an in depth audit of your needs to identify the areas of performance improvement on which you want to concentrate.
   
2. Determine the objectives you want to achieve in your corporate incentive program.
   
3. State the criteria for meeting those objectives.
   
4. Write a corporate incentive program proposal-outlining inception to completion.
   
5. Develop the award structure.
   
6. Select the type of reward.
   
7. Implement and operate the program.
   
8. Prepare a post program evaluation.
   
9. Reconcile all accounts. Review budget versus actual.
   
10. Prepare return on investment (ROI) analysis on corporate reward program.