personalized certificates for sales incentives

Personalized Certificates – Elevating Sales Gamification for Maximum Impact

by Sales Incentives

Personalized Certificates - Elevating Sales Gamification for Maximum Impact 

personalized certificates for sales incentives

Welcome to a guide that unveils the power of personalized certificates in the realm of sales gamification.

In this exploration, we’ll delve into the art of recognizing and rewarding sales achievements through personalized certificates, creating a dynamic strategy that fuels motivation, camaraderie, and, ultimately, sales success. Let’s dive into the world of personalized recognition and its game-changing potential. 

Understanding Personalized Certificates: 

Sales gamification becomes a powerhouse when paired with personalized certificates.

These aren’t just pieces of paper; they’re tokens of appreciation crafted uniquely for each team member, recognizing their specific achievements and contributions.

Let’s explore how personalized certificates redefine the game of sales recognition. 

Crafting Unique Recognition: 

The essence of personalized certificates lies in their uniqueness. Discover how tailoring each certificate to highlight individual accomplishments adds a personal touch, making your team members feel valued and acknowledged.

We’ll guide you through the process of crafting certificates that go beyond generic appreciation, fostering a sense of individual pride.  

Strategic Implementation of Personalized Certificates: 

Recognition Beyond Numbers: 

Move beyond the typical metrics. Personalized certificates aren’t just for hitting sales targets; they celebrate the journey.

Explore how recognizing efforts, creativity, and collaboration can reshape your team’s approach to success, making sales gamification more holistic and meaningful. 

Timely Acknowledgment: 

Timing is everything. Discover the impact of timely recognition through personalized certificates.

Whether it’s a weekly spotlight or an instant acknowledgment for a significant achievement, we’ll guide you on integrating timing into your strategy for maximum effect. 

Incorporating Team Feedback: 

Personalized certificates aren’t a one-size-fits-all solution. Learn how to leverage team feedback to tailor your recognition program.

We’ll explore the value of input from your team in shaping a personalized certificate system that resonates with everyone. 

Measuring the Impact: 

Boosting Sales Performance: 

Let’s get down to numbers. Explore how personalized certificates translate into tangible sales growth.

We’ll analyze data trends to provide insights into the direct correlation between personalized recognition and increased sales performance. 

Enhancing Employee Satisfaction: 

Happy employees mean a thriving workplace. Personalized certificates contribute to employee satisfaction by acknowledging their efforts.

Infuse joy into your workplace through personalized certificates in our sales incentives gamification. Recognize individual accomplishments uniquely, igniting a culture of happiness and success.

Experience a boost in team morale as every milestone is celebrated with beautifully crafted certificates. Elevate your work environment with personalized recognition, creating a motivated and fulfilled sales team. 

In the evolving landscape of sales gamification, personalized certificates emerge as more than mere tokens; they are catalysts for motivation, camaraderie, and heightened sales performance.

This blog underscores the strategic impact of personalized recognition on individual pride, team dynamics, and overall sales success. 

Excited about introducing gamification features in your incentive plans? Read our guide on how to gamify your incentive programs.

Connect with us to explore how the strategic implementation of personalized certificates can seamlessly integrate into your sales gamification strategy. Let’s chart a course for personalized success and recognition together, creating a sales environment where every achievement is celebrated uniquely. Your journey to sales excellence begins now.

Target meters

Boosting Sales Success with Target Meters: A Practical Guide 

by Sales Incentives

Boosting Sales Success with Target Meters: A Practical Guide

Target meters

Welcome to a guide that not only unravels the mysteries of Target Meters but also serves as your compass in the vast world of sales.

In this comprehensive exploration, we will delve deep into the intricacies of these dynamic tools, offering practical insights, strategies, and real-world success stories. Buckle up as we navigate the terrain of sales and discover how Target Meters can be the game-changer you’ve been searching for. 

Understanding the Basics: 

Sales goals can often feel like distant targets, elusive and hard to reach. Enter Target Meters, the visual GPS that transforms those abstract goals into clear, actionable paths. Let’s embark on a journey to unravel the simplicity of this tool and explore how it can steer your team confidently toward success. 

Injecting Excitement into Targets: 

Traditional sales goals can be a bit monotonous, right? Prepare to leave the ordinary behind as we uncover how Target Meters inject enthusiasm into the mix. Discover how these meters can turn routine targets into exciting journeys, transforming your team’s daily tasks into a series of gratifying challenges. 

Celebrate Every Win: 

More than mere progress trackers, Target Meters become symbols of accomplishment. Learn how these visuals add a profound sense of achievement to every milestone, making your team’s journey not just productive but also deeply rewarding. 

Putting Target Meters to Work: 

Ready to make your Target Meters visually compelling? We’ll explore the art of crafting impactful visuals that resonate with your team’s goals, making the journey more engaging and the destination more satisfying. 

Real-Time Insights for Action: 

No more static updates. Embrace the dynamic power of real-time insights within Target Meters. Discover how this feature adds an extra layer of excitement and keeps your team engaged with up-to-the-minute data, fostering a proactive approach to goal attainment. 

Recognition Matters: 

It’s not just about reaching the finish line; it’s about celebrating every step of the journey. Explore how Target Meters can be used not only for final celebrations but for recognizing progress, big or small, ensuring your team stays motivated throughout. 

Measuring the Impact: 

Target Meters are more than just a visual aid; they are strategic tools for driving sales growth. Delve into how deliberately implementing them can have a direct and positive impact on your bottom line. 

 Strategic Target Attainment: 

Unpack the strategic influence of Target Meters on your team’s ability to hit sales targets. We’ll analyze data trends to provide valuable insights that can refine your approach and enhance your team’s performance. 

Team Engagement Boost: 

Connect Target Meters to surveys and feedback tools to gauge team engagement. Explore how increased engagement levels translate into a significant overall performance boost for your entire team.  

Excited about introducing gamification features in your incentive plans? Read our guide on how to gamify your incentive programs.

Connect with us to explore how the strategic implementation of Target Meters can seamlessly integrate into your sales strategy. Let’s chart a course for precision and success together.

Your journey to sales triumph begins now, and we’re here to guide you every step of the way. 

4664447

The impact of leaderboards on sales teams

by Sales Incentives

The impact of leaderboard on sales teams

In the ever-evolving world of sales strategies, there’s a standout player — Leaderboards. This blog plunges into the profound impact of Leaderboards on sales teams, unraveling how this gamification strategy can fuel performance, spark healthy competition, and pave the way for unparalleled success. 

Understanding the Power of Leaderboards: 

Boosting Motivation Through Recognition: 

Leaderboards aren’t just scorecards; they’re cheerleaders. Make them a stage for celebrating victories openly. Regularly showcase top performers, turning achievements into a team-wide celebration that boosts motivation. 

Fostering Healthy Team Dynamics: 

Go beyond ranking. Infuse Leaderboards with challenges or bonuses tied to specific milestones. Cultivate a spirit of friendly competition, igniting a collective drive to surpass targets and fostering a culture of shared success. 

Encouraging Collaborative Wins: 

Shape Leaderboards that inspire teamwork. Introduce team-based achievements and rewards, encouraging members to collaborate and rise together. It’s not just about individual success; it’s about the team conquering goals collectively. 

Implementing Effective Leaderboards: 

Real-time Updates and Transparency: 

Keep the Leaderboard experience lively with updates in the moment. Share performance rankings openly, making it a live and engaging experience. It’s not just about competition; it’s about being part of the action as it unfolds. 

Tailoring Metrics for Precision: 

Customize Leaderboards with precision. Base them on diverse performance metrics that align with specific business objectives. Tailoring ensures the Leaderboard speaks directly to the unique aspects of your team and goals. 

Inclusive Recognition Strategies: 

Break free from the top-performer mold. Implement a tiered system or acknowledge consistent progress. Inclusivity matters; it’s about creating an environment where every effort is valued and recognized. 

Measuring the Leaderboards Impact: 

Metrics Driving Sales Growth: 

Look beyond the rankings. Evaluate how Leaderboards influence crucial performance metrics, directly impacting sales growth. It’s not just a display; it’s a tangible driver of success. 

Team Morale and Retention: 

Measure the ripple effect on team morale and retention. A well-crafted Leaderboard that nurtures satisfaction contributes to a cohesive and committed team. It’s not just numbers; it’s the people behind them. 

Case Study: Revolutionizing Channel Sales with Gulf Oil

Leaderboards

Challenge: Gulf Oil, a key player in the lubricants industry, faced the challenge of optimizing their channel partner engagement. They sought a solution to not only recognize top-performing partners but also foster healthy competition, encouraging all partners to strive for excellence. 

Our Approach:We proposed a comprehensive Leaderboard system designed specifically for Gulf Oil’s channel partners. This bespoke Leaderboard featured four key sections, each tailored to provide actionable insights and drive healthy competition among partners: 

  • Your Rank: A real-time display of each partner’s current ranking, fostering competition and recognition. 

  • What Did the Rank Above You Do Differently This Month: Under this insightful heading, three sections provided in-depth information: 

a. Monthly Volume: Tracking the total sales volume of each partner for the month. 

b. Growth: Highlighting the percentage growth achieved by each partner, emphasizing progress and improvement. 

c. Product Mix: Analyzing the mix of products sold by each partner, encouraging a strategic approach to diversifying sales. 

Results:The integration of the Leaderboard system led to a paradigm shift in Gulf Oil’s channel partner engagement. Partners became more proactive, learning from each other’s successes, and leveraging insights to adapt and grow. The friendly competition, driven by real-time metrics and insights, resulted in a substantial increase in overall sales performance. 

Conclusion: 

In the realm of sales gamification, Leaderboards aren’t just metrics; they’re catalysts shaping a culture of achievement and collaboration.

Ready to redefine your sales team’s success journey? Connect with us today to explore how the strategic implementation of Leaderboards seamlessly integrates into your sales gamification strategy, propelling your team toward unprecedented success. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Fastest finger first quiz for sales

Elevating Sales Success with Fastest Finger First Quizzes

by Sales Incentives

Elevating Sales Success with Fastest Finger First Quizzes

Fastest finger first quiz for sales

In the ever-evolving landscape of sales, where the intersection of learning and competition defines success, the strategy of Fastest Finger First Quizzes emerges as a powerful tool.

This dynamic approach not only engages but elevates knowledge within sales teams. In this blog post, we’ll explore the transformative impact of incorporating Fastest Finger First Quizzes into your sales team’s routine. 

The Power of Fastest Finger First Quizzes    

1. Engaging Learning:  

Fastest Finger First Quizzes transcend traditional learning methods by injecting an element of excitement into the process.

Beyond the acquisition of knowledge, they create memorable experiences, fostering a sense of achievement and making information retention more effective.    

2. Boosting Product Knowledge:  

Beyond a mere exercise, these quizzes significantly elevate product knowledge.

By focusing on specific product details, they contribute to a nuanced understanding that goes beyond surface-level familiarity.

Success stories abound of sales teams experiencing tangible improvements in their expertise.    

3. Fostering Friendly Competition:  

The competitive nature of Fastest Finger First Quizzes isn’t just about outperforming colleagues.

It’s a catalyst for increased collaboration and productivity.

Healthy competition stimulates a sense of accountability and personal growth among team members, fostering an environment of continuous improvement.  

Implementation Tips  

Successfully integrating Fastest Finger First Quizzes into your sales strategy requires thoughtful planning: 

1. Frequency and Timing:  

Consider the optimal frequency for conducting quizzes.

Whether integrated into weekly routines or introduced spontaneously, the element of surprise can enhance excitement.    

2. Reward Systems:  

Dive into diverse reward systems tied to quiz performance.

Aligning achievements with broader incentives, both monetary and non-monetary, can serve as powerful motivators.

Professional development opportunities and public recognition can enhance the overall impact. 

Measuring Success  

Assessing the effectiveness of Fastest Finger First Quizzes involves more than just metrics:     

1. Knowledge Retention:  

Develop strategies for measuring the long-term impact of quizzes on knowledge retention.

Incorporate follow-up quizzes to gauge the application of previously learned information in real-world sales scenarios.    

2. Team Dynamics:  

Explore the broader impact of quizzes on team dynamics.

Team-based quizzes can not only enhance collaborative problem-solving skills but also contribute to improved teamwork and information-sharing.   

Conclusion  

Fastest Finger First Quizzes represent more than just a gamification strategy; they embody a shift toward dynamic, engaging, and effective learning in sales teams.  

As organizations seek innovative ways to motivate and empower their salesforce, these quizzes stand out as a lasting solution.

They foster continuous learning, boost product knowledge, nurture a culture of friendly competition, and create memorable experiences.   

Ready to revolutionize your sales team’s knowledge base and camaraderie?

Reach out today to explore how dynamic and engaging Fastest Finger First Quizzes can seamlessly integrate into your sales gamification strategy, driving success and growth for your team. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Incereasing Sales through Incentives Gamification

Level Up Your Incentives with Effective Gamification Strategies

by Sales Incentives

Level Up Your Incentives with Effective Gamification Strategies 

Incereasing Sales through Incentives Gamification

In the fast-paced and competitive world of sales, keeping your teams motivated and achieving targets is essential for business success. One powerful tool that has emerged to drive performance and engagement is gamification. 

In this blog, we’ll explore why gamification is important in sales incentives, five effective gamification strategies for your sales teams, how to measure gamification outputs, and a real-world case study showcasing the impact of gamification on a sales team’s success. 

Why is Gamification Important in Sales Incentives? Gamification isn’t just a buzzword; it’s a game-changer in sales incentives. It taps into the competitive spirit of your sales teams, making everyday tasks exciting challenges.  

Gamification introduces a sense of accomplishment, promotes healthy competition, and ignites motivation. It can turn mundane sales targets into a thrilling journey toward success. 

5 Gamification Strategies for Your Sales Teams: 

Target Meter Challenge: 

  • Strategy: Visualize sales targets as a dynamic meter that fills up as your sales team progresses towards their goals. The closer they get, the more the meter fills up, adding excitement and motivation to their journey. 

  • Example: Imagine a corporate sales team tracking their quarterly targets with a “Goal Progress Bar” that fills as they approach their goals. As the bar reaches 100%, everyone is motivated to work together to reach their target faster. 

Fastest Finger First Quizzes: 

  • Strategy: Encourage your sales team to enhance their product knowledge through engaging quiz competitions. The quickest and most accurate responses win, fostering friendly competition and boosting expertise. 

  • Example: Sales representatives from various industries participate in weekly “Brain Teasers.” These quick quizzes cover general knowledge topics. The top scorers are recognized, motivating everyone to stay informed and competitive. 

Leaderboards: 

  • Strategy: Create a leaderboard system that ranks and recognizes top-performing sales team members. Showcase their achievements and ignite a sense of accomplishment and healthy competition among your team. 

  • Example: In a professional services firm, a “Sales Star Leaderboard” showcases the top performers in generating new business. This recognition encourages friendly competition among team members in different departments. 

Personalized Certificates: 

  • Strategy: Reward top achievers with personalized company certificates tied to reward points. These certificates serve as prestigious badges of honor, instilling a sense of pride and accomplishment. 

  • Example: A B2B sales team celebrates their “Deal Closer of the Month” with a personalized certificate that acknowledges their dedication and success in securing new clients, regardless of the industry. 

Milestone Badges: 

  • Strategy: Introduce milestone badges to recognize and reward sales team members for reaching specific achievements or tenure milestones within your organization. These badges act as visible symbols of accomplishment. 

  • Example: An e-commerce company’s sales team is awarded badges for reaching milestones like “100 Successful Sales,” “2-Year Service,” or “Top Sales in a Quarter.” This not only motivates individuals to reach these milestones but also fosters a sense of achievement and belonging. 

How to Measure Gamification Outputs and KPIs: 

Measuring the effectiveness of your gamification strategies is vital for optimizing performance: 

  • Sales Growth: Track the increase in sales revenue directly attributed to the gamification strategies. Compare sales figures before and after implementation. 

  • Target Achievement Rates: Monitor how often your sales team meets or surpasses their sales targets. Analyze the data over specific periods to identify trends. 

  • Engagement Levels: Use surveys, feedback forms, and analytics tools to measure the engagement of your sales team with the gamification elements. Higher engagement typically correlates with improved performance. 

  • Feedback and Participation: Collect qualitative data from your sales team, asking for their feedback on the gamification strategies. Evaluate their participation and enthusiasm levels. 

  • Retention and Loyalty: Measure the impact of gamification on team retention and brand loyalty. Higher retention and increased loyalty are indicative of successful gamification efforts. 

  • Time-to-Competency: Determine how quickly new sales team members become proficient in their roles with the help of gamification. Reduced onboarding time can be a significant success indicator. 

  • Referrals and Cross-Selling: Analyze the number of referrals and cross-selling opportunities generated through the gamification strategies. This data demonstrates the breadth of your sales team’s capabilities. 

Increasing Engine Oil Sales: A My Incentives Case Study 

In the fiercely competitive world of the engine oil industry, garage owners and operators play a pivotal role in recommending and selling engine oil products.  

 

To ensure that they consistently promote their brand and reach their sales targets, the brand sought a game-changing solution.  

They turned to My Incentives, a leader in gamification and incentive strategies, to address their challenges and boost their sales teams’ performance.

Increasing oil sales with gamified incentives 

The Challenge: 

The brand recognized that garage owners and operators were crucial influencers in the engine oil purchase process. They needed these 500+ influencers to not only meet their targets but also actively promote their engine oil products. However, they faced several challenges: 

  • Lack of Motivation: Garage owners often lacked the motivation to proactively recommend them over competitors, leading to missed sales opportunities. 

  • Target Achievement: Many garage owners struggled to meet their sales targets consistently, impacting their earnings and brand loyalty. 

The My Incentives Solution: 

To address these challenges, they implemented My Incentives’ Target Meter gamification feature, tailored specifically to the needs of their garage owner sales teams. 

The Target Meter Gamification: 

  • Gamified Targets: The Target Meter visually tracked sales targets, akin to an “Engine Performance Dashboard.” As garage owners progressed toward their targets, the meter filled up, sparking motivation and focus. 

  • Transparent Incentive Structure: Thanks to the target meter garage owners could see how many more sales they needed to unlock the next slab of incentives. This transparency provided clarity and motivated them to strive for the next reward level. 

  • Performance Leaderboard: Data was pulled in from the target meter and a leaderboard was established to display top-performing garage owners among their network of 500+ influencers, igniting a sense of accomplishment and healthy competition. 

The Results: 

The implementation of My Incentives’ Target Meter gamification led to substantial improvements for the lubricants brand: 

1. Sales Increase: The brand saw a remarkable 25% increase in sales of their engine oil products. Garage owners were more motivated to actively promote and recommend their products, directly impacting the bottom line. 

2. Target Achievement Improvement: Target achievement rates increased by an impressive 40%. Garage owners consistently met and exceeded their sales targets, leading to higher earnings and a stronger sense of achievement. 

3. Enhanced Transparency in Incentive Structure: Garage owners appreciated the transparency in the incentive structure, knowing exactly what was required to unlock the next level of rewards. This transparency further motivated them to achieve more. 

Conclusion: The Lubricants case study illustrates how My Incentives’ Target Meter gamification effectively transformed garage owners and operators into motivated and high-performing sales teams in the engine oil industry.  

The result was a 25% boost in sales, a 40% improvement in target achievement, and an enhanced level of transparency in the incentive structure. 
 

Drive Your Success with My Incentives: 

Ready to empower your sales teams and achieve remarkable results in the engine oil industry?
 
Contact My Incentives today and discover how our tailored gamification and incentive solutions can elevate your brand’s performance, growth, and transparency in incentive structures. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

How to calculate sales incentives

Here’s how you track sales commission effectively.

by Sales Incentives

Here's how you track sales commission effectively.

How to calculate sales incentives

How To Create a Company Culture That Illustrates Your Core Values

Sales commissions are incentives paid to sales reps in relation to the sales made by each of them. This payment is in addition to the regular salary component paid to the sales team. Commissions boost the morale of sales reps and motivate them to work better.

However, not all organizations have a proper sales commission system in practice. It is important to track commission payments to regulate the process and make it effective.

In this blog, we will be discussing some ways to make the tracking process effective.

What are sales commission?

Sales commission is a financial incentive given to salespeople when they achieve or surpass their sales targets. It is calculated as a percentage of the revenue generated from their sales activities. Sales commission tracking is the process used by businesses to document sales transactions and calculate the corresponding commissions. This ensures accurate record-keeping and timely payment of commissions. By implementing effective sales commission tracking, companies motivate their salespeople to perform at their best, leading to business growth and expansion.

These are some ways you can track your sales rep’s commissions:

  • Manual tracking:

Traditionally, commission-related data has been recorded manually, including manual computations. However, this process is time-consuming and best suited for small businesses with minimal data volume.

  • Manual spreadsheets:

Another method involves creating and maintaining spreadsheets where sales data is manually entered, commissions are calculated using predetermined formulas, and individual salesperson’s commission earnings are tracked. While this approach is straightforward, it can be time-consuming and prone to errors.

  • Commission tracking software:

To streamline the process, businesses can utilize specialized tools or software designed for commission tracking. These applications offer features such as real-time calculations, data import/export capabilities, customizable commission structures, and comprehensive reporting. Using commission tracking software can minimize errors, save time, and provide valuable insights.

How to make the sales commission tracking process effective?

Here are some tips that could make your tracking process effective:

  • Establish Transparent And Clear Commission Structures:

Ensure that your commission plans are easily understandable by your sales team. Clearly define the commission rates, tiers, and any other factors that may affect the calculations in a detailed manner.

  • Automate The Process:

To fully leverage the benefits of sales commission tracking, it is important to automate the procedure. Automation not only reduces the chances of errors but also saves significant time.

Automated tools simplify complex calculations, eliminating inconsistencies in commission processes. This fosters trust among sales representatives and motivates them to enhance their contributions to the company.

Automated tools are flexible and can easily adapt to changes in commission calculations. Their adaptability makes them highly valuable and efficient.

  • Aligning Commissions and Sales Goals:

 Make sure the commission structure fits with the aims and objectives for sales at your company. The commission scheme ought to encourage the desired actions and results. For instance, you might wish to give more commissions for selling particular goods or hitting predetermined sales goals. To keep the commission structure motivating and relevant, examine it frequently and make changes.

  • Establish Realistic And Achievable Sales Goals: 

Set difficult yet realistic sales goals. Salespeople may get demotivated by unachievable goals, while complacency may result from goals that are simply within reach. When establishing targets, take into account past sales data, market trends, and individual sales representative performance. To keep things fair and motivating, assess your goals frequently and make adjustments.

  • Provide Accurate And Timely Reporting:

 Deliver sales associates with accurate and timely commission reporting. These reports ought to provide a breakdown of their sales results, commission distributions, and commission computations. To make the data more comprehensible and accessible, use graphs and visualizations. Regularly scheduled reports help foster confidence and enable sales people to efficiently monitor their success.

  • Education and Training of Sales Representatives: 

Provide sales representatives with thorough commission tracking training and continuing education. Make sure they comprehend the commission structure, how it is changed, and how to read commission statements. Refresh their knowledge frequently, and handle any issues that arise.

  • Monitor And Assess Each Step: 

Keep an eye out for any potential problems or inconsistencies by routinely monitoring and auditing the commission tracking process. To guarantee accuracy and compliance, periodically evaluate the commission’s data, calculations, and reports. The commission tracking system’s integrity is preserved and sales representatives’ trust is increased as a result.

  • Streamline The Procedure

All stakeholders may easily manage and use a streamlined process. The process can be effectively simplified to ensure that sales representatives are not concerned about their commissions.

  • Simplify The Calculations

The calculations should be made as easy as possible to streamline the procedure. With the numerous software programs available, this is feasible. The software quickly extracts data from spreadsheets and computes sales rep commissions. It speeds up and eliminates errors in the process.

  • Real-Time Updates:

To ensure real-time updates, it is crucial to have a flexible sales commission tracking process. This becomes easier when there is connectivity with a Customer Relationship Management (CRM) system.

Even when dealing with large volumes of data required for calculations, there will be no delay in commission payments. Monitoring and tracking the process effectively is also made simple.

Conclusion

Sales commission tracking software has the potential to revolutionize commission management in businesses. By implementing tracking software, businesses can significantly reduce the administrative workload associated with manual calculations, data entry, and record-keeping. The software automates commission computations based on predefined rules, ensuring accuracy and minimizing errors.

With the software, salespeople can easily access their commission statements, track their progress, and understand their earnings in real-time. This transparency builds trust and provides motivation to the sales team. Moreover, the software generates comprehensive reports that offer valuable insights into sales performance, trends, and commission payments. This empowers organizations to make informed decisions based on data analysis.

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Want to enable sales incentives for your teams? Watch the video and get started

Want to enable sales incentives for your teams? Watch the video and get started

by Sales Incentives

Want to enable sales incentives for your teams? Watch the video and get started

Want to enable sales incentives for your teams? Watch the video and get started

How To Create a Company Culture That Illustrates Your Core Values

In the dynamic world of sales, staying competitive and motivating your team is paramount. Yet, the traditional approach to managing sales incentives often involves tedious manual processes and delays that can hinder your company’s growth.
 
But what if there was a smarter way?
 
Enter My Incentives, a revolutionary solution that’s changing the game in sales incentive management.
 

Effortless Incentive Management

 At My Incentives, we understand the importance of keeping your sales team motivated and focused. That’s why we’ve embraced My Incentives to streamline your incentive management process. This powerful tool automates complex calculations, eliminating the need for cumbersome spreadsheets and manual work. Say goodbye to errors and hello to efficiency!
 

Automated Calculations

 One standout feature of My Incentives is its ability to automate intricate calculations. With this tool, you can trust that your incentive calculations are accurate and delivered promptly, ensuring that your sales team is rewarded for their hard work without delay.
 

Tailored Incentive Plans

But My Incentives is more than just automation. It empowers even non-technical users to create customized incentive plans tailored to your unique needs. It’s about putting you in control of your incentive strategy, not the other way around.
 

Real-Time Insights for Your Sales Team

 With My Incentives, your sales team gains access to real-time insights through a user-friendly interface. They can track their earnings and progress daily, keeping them motivated and driven to achieve their targets. It’s like a gamified experience that keeps everyone engaged and on track.
 
Swift Payouts for Outstanding Performance
 Gone are the days of waiting weeks for incentive payouts. My Incentives automates approvals and ensures that your dedicated sales professionals receive their well-deserved incentives within 2-3 days after month-end. It’s about recognizing exceptional performance promptly.
 
To gain a deeper understanding of how My Incentives works and the transformative impact it can have on your sales incentive program, watch our video above. It provides a brief but comprehensive introduction to this remarkable tool.
 
At My Incentives, we’re committed to innovation and dedicated to empowering your team to achieve remarkable results. My Incentives is just one example of how we’re embracing technology to drive success.
 
Stay tuned for more updates and insights as we continue to evolve our processes and tools to maintain your competitive edge.
 
Join us on this journey of transformation, and let’s elevate your sales incentives together with My Incentives!

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

line style flying rocket blue background

Launching a New Sales Incentive Program? Here Are 5 Things to Look Out For

by Sales Incentives

Launching a New Sales Incentive Program? Here Are 5 Things to Look Out For

How To Create a Company Culture That Illustrates Your Core Values

Introduction 

Profitability is certainly one of your main worries if you manage a physical store or restaurant.  The retention and morale of their staff, however, is one of the crucial variables that most operato overlook. Employees that are happy at work, feel valued and appreciated, and believe in the product they are selling are more likely to promote it with more passion and authenticity, eventually boosting your business’ profitability and client loyalty.

Introducing a sales incentive program is one of the finest ways to motivate staff to positively promote products, boosting team morale and increasing earnings at the same time. As you begin a sales incentive program, here are 5 things you need to look out for:

1. Define Clear and Measurable Objectives 

A sales incentive program must to be simple to comprehend and execute. If there are too many “if this, then that” conditions, employees may become confused and upset rather than focusing on the simple “sell this, get that” principle that will only allow them to move closer to an easily reachable objective. You can effectively design the program to meet these objectives by defining specific goals, such as boosting sales income, growing market share, or promoting particular product lines.

When their sales targets are tied to a concrete number they can remember rather than an arbitrary percentage, people are more likely to succeed. Set a target like “sell 50 appetizers in a single weekend” instead of “sell 30% more than last week,” for instance.

2. Establish A Common Goal

People seek to cooperate in order to accomplish a shared objective. It fosters a sense of belonging, camaraderie, devotion to the company, and dedication to a common success vision. Employees may have individual sales targets, but if they are all working for the same business objective, they are more likely to support one another and foster a healthy work environment rather than be competitive and individualistic, which may frustrate underachievers.

Instead of having team members compete with one another for the “top spot,” let them individually set and accomplish their own personal goals while also establishing a collective goal.

 

3. Tailor Incentives to Motivate and Engage 

When it comes to sales incentives, there is no one size fits all. Understanding the motivations of the members of your sales team is essential because everyone has different personal motives. Surveys, focus groups, and one-on-one interviews can all yield insightful information on the preferences and goals of your sales staff.

The employee incentives should be beneficial to the team, but they shouldn’t consume the entire additional revenue that your company will generate from the sales incentive pushes. Setting up tiers in your rewards system is one potential fix. Think of providing a variety of prizes that may be tailored to individual tastes, such as cash bonuses, gift cards, vacation incentives, or even non-financial benefits like flexible work schedules or more training opportunities.

You can promote engagement, motivation, and foster a great sales culture inside your firm by personalizing incentives to individual preferences.

4. Ensure Transparency and Fairness 

Any successful sales incentive program must be transparent and equitable. It is critical that your sales team understands the program’s rules, eligibility requirements, and reward systems. Employees may become cynical and demotivated as a result of a lack of openness, resulting in a drop in performance and involvement.

Furthermore, strive for fairness in software design. Maintain reasonable and attainable goals and targets to avoid circumstances in which some team members may feel disadvantaged. Review and evaluate the program on a regular basis to discover any unexpected biases or unintended outcomes, and make any required revisions to ensure fairness throughout the duration of the incentive program.

5. Focus On All Employees

Employee incentive programs should aim to improve the performance of all employees, not simply your best performers. Top performers frequently have an internal desire that drives them to give their all every day, whether or not there is a monetary reward. Incentivizing the person who may not feel very motivated on most days to put in the extra effort will help them see that they can achieve something greater, and the reward they receive for achieving an attainable goal will further motivate them to feel confident in their sales long after the incentive has ended.

You can construct participant classes in which people compete against their colleagues who have the same talents and abilities (this is useful for role-specific and split sales incentives). Or by establishing an eligibility process that prevents someone who consistently dominates from competing for the same rewards.

 

Way Forward

Launching a new sales incentive program can be a game-changer for your organization, driving sales growth and boosting employee morale. One incentive program reduces your workload as an owner or manager, and minor rules or restrictions can be assigned to particular offices or teams as needed. However, too many different programs with varied requirements might be confusing or overwhelming, forcing people to throw up their hands, put their heads down, and continue doing what they were doing before so they don’t have to think too hard.

Keep it simple and straightforward to attain, while guaranteeing that small teams and the entire company can collaborate to meet the new standard and boost revenue. Maintain flexibility and solicit plenty of input from your staff both before and after the reward program. 

So, get ready to launch your new sales incentive program and watch your sales soar to new heights!

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

Untitled design (32)

Automated incentive calculations benefits your whole team – here’s how​

by Sales Incentives

Automated incentive calculations benefits your whole team - here's how

How To Create a Company Culture That Illustrates Your Core Values

Introduction: 

In the dynamic landscape of multi-brand retail, staying ahead demands a motivated and engaged workforce. However, the complexities of managing incentives can often become a stumbling block. This blog delves into the transformative potential of My Incentives, an advanced automated incentive management solution.  

Automated Incentive Calculation: 

At the core of a successful retail operation lies a well-designed incentive structure. Here’s how My Incentives can revolutionize this critical aspect: 

Image preview

Key Features 

Benefits 

Sales, HR, analytics, and IT teams save time from tedious processes at the end of the month 

Drastically reduced time for calculations from 10 days to a mere 10 seconds 

Avoid overspending on incentive payouts 

Elimination of manual errors, ensuring accurate and fair rewards 

Perform scenario analysis for different incentive plans 

Empower your strategy team to fine-tune plans for maximum impact 

Build promotions with precision 

Seamlessly adjust formulas for seasonal variations 

Highly adaptable scheme logics 

Effortlessly expand from 5 to 200 schemes with minimal effort 

  

Efficiency in calculating incentives is a game-changer. Traditional methods, often reliant on spreadsheets, can lead to delays, errors, and inefficiencies. My Incentives streamlines the process with automated incentive calculations.  

It provides real-time calculations based on synchronized data, allowing sales teams, HR departments, analytics teams, and IT personnel to reclaim valuable time once spent on tedious manual calculations. With My Incentives, what used to take up to 10 days can now be accomplished in as little as 10 seconds. 

With My Incentives, accuracy is assured, leading to precise and transparent rewards. No more concerns about overcompensation or shortchanging employees—just fair and accurate payouts every time. 

Beyond accurate calculations, My Incentives empowers your strategy team in unforeseen ways. Performing scenario analysis on different incentive plans becomes a breeze. This capability lets your team experiment with various strategies and see their direct impact on payouts.  

Furthermore, the ability to adjust formulas for seasonal promotions ensures your incentives stay aligned with your business’s evolving needs. 

 

 Empowering Employee Sales Performance: 

Motivated employees are the driving force behind any successful retail enterprise. Here’s how “My Incentives” can create a dynamic and motivated sales team: 

Key Features 

Benefits 

Personalized motivation strategies 

Sales team members receive 5+ real-time AI-powered nudges tailored to their performance 

Reduced HR effort in recruitment 

Significant attrition reduction (up to 20%) amongst new hires 

Enhancing employee trust 

Boosting overall employee satisfaction by 30% 

  

Motivation isn’t one-size-fits-all. Every member of your sales team has unique strengths and preferences. That’s where personalized motivation strategies from My Incentives come into play. With automated incentives, your sales team receives real-time AI-powered nudges personalized to their individual performance and goals. This proactive approach keeps your team engaged, focused, and motivated to achieve their targets. 

Additionally, the impact of My Incentives extends to your HR efforts. Employee recruitment is a time-consuming process, and the turnover rate in the retail industry can be high. However, My Incentives has been shown to significantly reduce attrition rates among new hires. By streamlining the rewards and recognition process, employees feel valued and are more likely to remain committed to your brand. 

Effortless Automated Payouts: 

Timely and hassle-free payouts are essential to maintaining employee morale. Here’s how “My Incentives” can transform this crucial process: 

Key Features 

Benefits 

Timely and hassle-free payouts 

Payout times reduced from 10 days to real-time 

Diverse payout options 

Employees can choose from a variety of preferred payout methods 

Eliminating errors in incentive payout 

Automated NSDL/PAN Verification ensures accurate and secure disbursements 

 

Furthermore, diverse payout options cater to the preferences of your employees. People have different financial goals and preferences when it comes to rewards. My Incentives allows employees to choose from a variety of payout methods, be it cash, gift cards, or other forms of compensation. This flexibility adds a personal touch to rewards, enhancing their overall impact.  

 

Conclusion:  

Remember, the future of retail belongs to those who are ready to adapt, innovate, and empower their teams through cutting-edge solutions. Ready to elevate your multi-brand retail game with “My Incentives”? Contact us today to explore how My Incentives can transform your retail strategy. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.  

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The Evolution of Loyalty Programs and Why They Work

by Sales Incentives

The Evolution of Loyalty Programs and Why They Work

How To Create a Company Culture That Illustrates Your Core Values

Loyalty programs and cards have been around for ages. They are not a new phenomenon. Companies have taken the aid of various types of loyalty programs to keep the target market involved and engaged with their brands. The target audience could be customers or employees or channel partners.  

Where did it all begin though? Which great minds concluded that rewarding a group of people for their loyalty could yield better profits, productivity, and performance? 

Let’s discover all of these in this article today. 

Purpose of Loyalty Programs 

The objective of the program is to incentivize certain groups of people who are loyal patrons of the brand. For example, they could be customers who frequently buy products and services from the brand or channel partners who sell the brand’s products and services more than they sell the competitors. 

The right program has the potential to boost engagement, improve sales and revenues, enhance satisfaction levels, and create a strong brand identity. 

When Did It All Start? 

Loyalty means being faithful and is one of the innate values of human beings. Therefore, the concept of rewarding someone faithful is not a novel idea.  

For commercial entities, the journey started somewhere in the 18th century.  

Here’s a brief trail of the journey. 

1793 – This was the year when loyalty cards were officially rolled out. Several retailers in the US gifted their customers copper coins for every purchase they made. These coins could be collected by customers and redeemed during their next purchase. 

1872 – This was when the Grand Union Tea Company launched its customer loyalty cards in the form of tickets. Customers needed four tickets to get 1 pound of tea.  

1896 – After several transformations of the copper coin and various retailers adopting the concept across the seven seas, the coins were replaced by stamps towards the end of the 19th century. UK was one of the first to imbibe this when S&H Company, a departmental store, introduced the green shield stamps. For every purchase, customers were awarded these stamps at the checkout counter. To add to it, customers were given a stamp book to collect and store the stamps. 

1929 – Betty Crocker did something different this year. They started printing the cutouts of the loyalty cards or coupons on the packaging. Then, the customer was required to cut out the coupons, collate them, and redeem them in exchange for rewards. Soon after, many other brands started copying the concept, which became quite popular.  

1972 – United Airlines introduced the world’s first Frequent Flier Program, which Western Direct Marketing had created. 

1981 – American Airlines introduced its top-rated Frequent Flier Program called AAdvantage.  

The 2000s and later – In the 21st century, with the emergence of e-commerce and other technological innovations, plastic loyalty cards got replaced with apps and online platforms. 

Alongside the evolution of B2C or customer loyalty programs, the significance of channel loyalty programs or B2B programs was also realized by brands, probably in the 2000s. And thus was born another form of loyalty cards that focused on rewarding channel partners for their consistent efforts in selling and promoting a brand’s products and services vis-a-vis that of the competition.  

Evolution of Loyalty Programs 

Evidently, rewarding loyalty started with coins. It then went on to take the form of printed cut-outs on the packaging, stamps, coupons, plastic cards, points, apps, and so on. While the traditional loyalty programs were point-centric, today’s brands use top-end technologies like AI and a range of touchpoints to gain data and insights to improve the efficacy of their loyalty programs. 

For example, for customer loyalty, marketers can track every touchpoint of an individual customer, from when the customer views a product to completing the checkout or abandoning the cart. Interpreting these touchpoints help them understand their customers and their intentions better. Consequently, personalized incentives are given to keep the customers enticed and encourage them to keep coming back. 

So, from physical cards, the transition to modern loyalty programs is an interesting journey. At present times, loyalty programs are mostly in the form of apps or online platforms that embed gamification as an exciting way to take loyalty notches higher. Typically, participants, whether customers or channel partners or their sales representatives, present game-like situations and challenges. Each time they win, something awaits them, like badges, personal scores, leaderboards, or in-app currencies. 

For example, Starbucks rewards customers with stars every time they purchase or interact with the app. They can collect the stars, unlock levels, and get new benefits.  

Why Do Loyalty Programs Work? 

In a study by the Chief Marketing Officer Council, about 61% of marketers believe customers participating in loyalty programs are the most profitable. In comparison, 65% view loyalty programs as an investment and an essential part of their marketing mix.  

Today is the age of targeted retention. It is a time when brands want to engage with potential and existing customers and channel partners and then reward them for retaining them. For example, another travel industry study showed that almost 74% of customers based their purchasing decisions on rewards and loyalty points.   

There are hundreds of examples of successful loyalty programs. For example, Tanishq’s Anuttara, a point-based program, has members informed first about new and latest offers. Similarly, JetPrivilege, Jet Airways’ tiered frequent flyer program, has five tiers, and members have exclusive opportunities to get premium check-ins, lounge access, baggage allowances, and more. Or MacDonald’s Breakfast Club is an app-based loyalty program with multiple freebies for members. 

It is no surprise that the global Loyalty Program industry was valued at $181 billion in 2019. And the forecast is that it will grow at a CAGR between 5% and 6% till 2026.  

Loyalty programs work, bottom line. Why?  

  • The programs are based on a simple concept – shop more, earn more, or sell more, earn more. When the program is effective, your brands get repeat sales, which is the goal of all commercial businesses. 
  • These programs help earn better profits. For example, in the customer loyalty niche, it’s called CLV, or customer lifetime value. It is the net profit that each customer generates during their association with the company. The CLV has the chances of increasing based on the correct usage of the data generated during various touchpoints and personalizing rewards accordingly. 
  • Loyalty programs work because they make your customers and partners feel valued. Rewards & recognition have a unique effect on the human mind. It is a form of appreciation; every individual rewarded for interacting with a brand feels special. This further strengthens the belief and bond they have for the brand. 
  • It helps create a positive image for the brand. Happy customers and partners refer your brand to others in their peer group. It is the form of advertising that comes free with your loyalty program. Hence, there is a need to nurture loyalty programs with care and focus. It is like investing in a real-time relationship – worth every last penny, time, and effort. 

Loyalty programs work because it helps you retain resources, be it customers, employees, or channel partners. When done right, these programs have the potential to get you back lost customers and partners back. But loyalty programs should be relevant and offer value to the people concerned. It cannot exist in a vacuum. Ensure that your loyalty program is a holistic package, be it customer loyalty or channel partner loyalty. 

Business values can heavily influence your brand identity and how outsiders view your company. It is therefore imperative that a company has very firm values and the same is embodied in all aspects of their business.  

Let’s begin with a quick recap of what we know about values. Values are individual belief systems that motivate people to act one way or another. They serve as a guide for human behaviour. Generally, people are predisposed to adopt the values that they are raised with. Ethical decision-making often involves weighing values against each other and choosing which values to elevate. Conflicts can result when people have different values, leading to a clash of preferences and priorities. Some values have intrinsic worth, such as love, truth, and freedom. Other values, such as ambition, responsibility, and courage, describe traits or behaviours that are instrumental as a means to an end.  

As an individual, values essentially serve as a guide to growth and development. They help us create the future we want to experience. Much like individuals, organizations also need values directed towards a specific purpose, be it growth, development or business success. These cannot be attained in the absence of a strong value-based organizational culture that embodies it’s core values. 

Strong value-based work culture is a precursor to business success 

Organisations are involved in making hundreds of decisions every day. The decisions they make are a reflection of their values and beliefs, and they are always directed towards a specific purpose. That purpose is the satisfaction of organizational needs. Organizational values reflect how your organization operates in the business world. Successful organizations develop and follow their organizational values. 

For instance – Walt Disney; it is not just among the most recognizable brands in the world, they also are the kindest community on the planet. A brand which is almost synonymous with magic, Disney extends the magical experience even to its employees as a part of the company’s culture. (quoted from surveysparrow blog-7 Fabulous Organizational Culture Examples You Can Learn From!) 

What Sets Them Apart: Unparalleled heritage, pride and culture, wonderful community, amazing growth opportunity, and a creative atmosphere sets them apart, says a Disney employee.  Disney only hires people who align with what their brand stands for. The organizational benefits of being a Disney employee include access to Mickey’s Retreat (an exclusive area accessible only to Cast Members and their families), generous discounts on Disney parks, hotels and merchandise, incentive schemes and private healthcare. Takeaway:  Disney strives to make every place the happiest place to work and is compassionate towards each other. People can tell when their company cares for them and in Disney’s case, employees care back! 

It was Peter Drucker who famously said that Culture eats strategy for breakfast’. No kidding. A work culture can absolutely be the deal-breaker or decisive factor when it comes to defining a company’s success. Great company culture just doesn’t happen on its own. It’s more than mere fun and games. It’s beyond the inspirational quotes and artwork chalked onto the pillar, glowing customer recommendations lining the walls, and bean bags littered across the floor. All that is nice and makes life more pleasant, but it does not change the core of who you are as a company. Great organizational work culture is more than paychecks, fun, and perks. 


HOW TO CREATE A CULTURE AROUND YOUR CORE VALUES 

Company culture is a difficult concept to put into words but it is synonymous with your business environment. Good company culture takes years to develop, but there are some steps that you can take today to get this plan in motion: 

 

1. Pin Down your core values:

Alright! First things first, you need strong core values to set up the base for your company’s culture. Your core values need to be established and ingrained in your company if you are to have a successful company culture. If your core values are not defined, there will be no culture. In the absence of a defined culture, organizations usually form their own culture, which is not based on values and best practices. This can be detrimental to the business image in the long run.

“When I began my startup, I did not have any set values. Personally yes, I had a set of values I operated upon, but however, it didn’t seem necessary to establish company values at such an early stage. Eventually, my business grew and so did my team. I now started seeing the challenge of encouraging the team to make decisions, based on the values I personally embody as guidelines. This became an even bigger challenge with employees who operated remotely. I finally realized the importance of having set company values. However, I kept putting it off since I didn’t know where to begin. But once I sat to actually pen down Moneyjar’s values, it didn’t take more than 15 mins” – Rohan Agarwal (Co-Founder Moneyjar) 

 To create your business values, think about your personal values, business objectives and align them to match it with your workforce potential. See which value-based decisions have kept you on your growth track and which have helped your employees perform better. Keep the ones that serve your indicators of success and match the goals you have chalked out for your business. A quick search on google with also reveals a great set of values you can imbibe.  Go ahead if that suits you, however, remember your values must be tailor-made and should not be more than 3-4 in number. 


2. Identify behaviours that demonstrate these values:

Once you have nailed down your core values, you must bring it into action. Sometimes organizations may be operating under unspoken core values, communicate them formally to the workforce and practise it daily. Daily reinforcement is the best way to form a habit. Identify touchpoints to remind them of these values. Everyday things like setting business hours, determining employee benefits and internal communication with employees, reflects your culture. So, ingrain your values in these decisions from the start. 

Establish Key Behavioural Indicators that demonstrate your core values. For instance, If you are a customer service based company which has adopted “Going the extra mile to achieve customer satisfaction” as a core value, your employees must embody the same value and must be willing to go that extra mile whenever the opportune moment surfaces. 

For example, you have probably heard of the Ritz-Carlton, a hotel chain known for their great customer service. On one particular visit, a mother together with her two children had spent a few days there on vacation, and when they got back home, her son discovered that his beloved stuffed giraffe, Joshie, had gone missing. The boy was devastated, so his parents decided to tell him that “Joshie is just taking an extra-long vacation at the resort.” This conversation was overheard an attendant at the front desk and he took it upon himself to ensure they leave happy. That very same night, the Ritz-Carlton called to tell them that they found Joshie. The relieved parents asked if the staff would mind taking a picture of the giraffe at the hotel to authenticate a fabricated “long vacation” story. After a couple of days, the parents received a package with Joshie and a bunch of pictures that proved Joshie’s prolonged holiday. (quoted from Brand24 blog) (once again keep the formatting same across sections and while quoting another blog also add the link) 

Organizational culture depends largely upon the behaviour of its employees. So you must ensure that employees behave in a fashion that resonates your core values. Not just existing employees, but even new hires should be done keeping in mind the core values, so it becomes easier to integrate them into the organizational setup. Many companies have started carrying out an interview with a culture fitment angle to ensure the right candidate is hired.
 

3. Induct all employees into the values: 

When bringing on new employees or when you update your company values, don’t skip onboarding and training. These are great opportunities for you to set the tone. Talking about your core values periodically can also help you to implement them in your corporate culture. You can send out monthly newsletters that showcase employees who are successful in following your business’s values. Also, you can bring up core values in goals meetings and determine whether you are reaching goals., You can discuss core values during employee performance reviews. Don’t let them get cosy in the corner of your small business. Frame them and hang them on the wall for employees and customers to see. Post them on your website, on your social media pages, and on any other digital front, you can. Many companies proudly display their core values on video walls or television screens in the frontal view of the office, to ensure both employees and customers understand them. Customers/ employees can get an idea of what the organization’s culture will be like basis the values displayed and take decisions accordingly. 


4. Reward employees when they act as per the desired behaviour:

So the values are set, the employees are inducted and business is great! It’s no wonder these thoroughly thought out core values worked like a charm. If you’re thinking you’ve created your business Utopia, think again! Is it enough to just establish a successful culture? Employee Recognition plays an important role when it comes to building a company culture. Once the values are set and let’s say employees strive to adhere to them, then as an organization, it becomes your responsibility to recognize these efforts and reward these behaviours. These values help gauge the performance of employees and recognize their efforts in order to keep them engaged. Acknowledging and rewarding value-based behaviour encourages the employee to perpetuate this behaviour throughout his/her tenure with the organization. When these behaviours are rewarded it creates an emotional connection between the employee and company and they achieve a state of synergy and eventually attain employee engagement.  

 In today’s day and time, employee recognition can be also done digitally which also allows business owners to track individual performance and measure it against core values and reward employees. Such unique platforms provide superior employee engagement, not just among superiors and subordinates but also enhance peer-to-peer engagement. For instance, Let’s Buzzz platform allows peer-to-peer employee appreciation model, where employees across departments and ranks appreciate and recognize fellow employees for demonstrating certain behaviours by buzzing about it and thereby creating a chain reaction of acknowledgement and occasionally nudging whenever a core value is displayed, which in turn leads to driving a value-based culture. Core values are beliefs your business must follow in all aspects of its operations, be it marketing, human resources, administration and finance. They guide decision-making and define what your business stands for. But, if you and your employees fail to uphold your core values, you could face bemused or disappointed customers.