Incentive - May 2008 - (Page 27)

CASE STUDY wide recognition with an American Express gift card for the employee who shone during the previous three months; an annual award recognizes the top performers for the year. And then there are the company’s trips that combine training and development (T&D) with R&R, using structured programs at resorts to reward performance, build team spirit, develop project ownership and recognize emerging leaders and patterns for growth. The company makes it a special point to reward performance. In fact, it has built its travel incentive program around points awarded to employees who exceed project benchmarks, marketing efforts on behalf of the firm, business development and recruitment efforts, as well as more traditional benchmarks such as project profitability, meeting or exceeding project deadlines and project referrals. The company trips use themes that combine training and development with recreation. In 2007, 18 employees and their guests participated in an excursion, billed as ‘WESKarribean’ by the firm. A trip to Cancun included a tour to local Mayan ruins—an area of particular interest to an architectural and design firm. The group also picked up practical knowledge at a seminar on the building process; architects could also take an exam to obtain enjoyed a buffet at a breathtaking scenic overlook at Dye Fore Terrace. Assessing the Return The total incentive expenditure for firmwide rewards currently represents 4 percent of the fiscal budget, having grown by 12.5 percent over the past year. With a low turnover rate, the average tenure for a current employee at the firm is four years. Making this number more impressive is the fact that the firm has grown by 45 percent over the past two years. Spending money on incentives to keep turnover rates low makes good business sense. According to a report by the Saratoga Institute, a division of PricewaterhouseCoopers, turnover-related costs represent more than 12 percent of pretax income for the average company. Other studies estimate that it costs some $50,000 to “Because the employees feel appreciated, the turnover rate for the firm is far below the national average.” –Kristian Dyer, WESKetch learning credits for their license. In a more recent trip to the Casa de Campo resort in the Dominican Republic, the theme was Core Values. Besides the teambuilding fun of beach soccer, volleyball, skeet shooting, and group dinners, attendees gained more insight into the firm’s dedication to “green design.” A movie night event featured a documentary on environmentally sensitive building practices, followed by a group discussion to brainstorm ideas and insights on hot-button design issues. A morning session continued the green theme using a LEED (Leadership in Energy and Environmental Design) Green Building Rating System seminar to broaden understanding for the design process. Other in-depth explorations of the firm’s Core Values took place outdoors, on a veranda. The last evening, the firm replace an employee. “Because the employees feel appreciated, the turnover rate for the firm is far below the national average,” says Dyer. “The return-on-investment is seen in the fact that people look forward to coming in to work every day. You’re working with friends and you’re working for friends. It could be easy to be lost in the shuffle, to be just a number on the payroll, but that’s not the case here. I feel appreciated, and I feel like WESKetch wants me here.” But for Anastasia Harrison it’s more about people than ROI numbers, “I don’t know if you can really put the firm’s programs into terms of dollars and cents. Can you really project numbers for a happy workplace or employees who don’t want to leave?” Send comments to incentivemagazine@nielsen.com incentivemag.com WESKetch Founder and Principal William Kaufman All employees are invited to work for points toward the company trip (this year, Jamaica), meeting with supervisors to discuss their game plan. Points are accumulated over time, and can be carried over from year to year to meet the qualifying amounts. Unlike other incentive programs, employees can earn additional points to bring a significant other on company trips to resorts in exotic locales such as Mexico and the Dominican Republic. | May 2008 | Incentive | 27 http://incentivemag.com

Table of Contents Feed for the Digital Edition of Incentive - May 2008

Incentive - May 2008 Contents Editor's Note: Turn to Incentives in Hard Times In The News: At IMRA Conference, Trade Show Talk; In Utah, Team-Building Trauma Cover Story: Can Incentives Save the Media Business? Incentive Interview: Our New Columnist, Christi L. Gibson Case Study: Architecture Firm WESKetch Builds a Recognition Plan Incentives in a Recession: Advice on Adjusting Your Plan Office Bullies: The Scourge of the Workplace Can Be Reined In Original Research: Incentive Sales IQ Report Recognition@Work: Stop Driving Your Top People Away Incentive Primer: Ways to Foster Creativity in Your Organization Travel News Puerto Rico: Shining Star's Trendy Makeover Mexico: Cancun and Cabo Still Have It Potentials Here and Now Luggage and Leather Goods Gift Cards: F&B Advertiser Index Last Word: Stanley Bing Gives Wimpy Bosses a Nuggie

Incentive - May 2008

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