ST. LOUIS, Mo., Feb. 16, 2011 /PRNewswire-USNewswire/ -- Underscoring the most significant changes in the incentive industry over the last decade, the Incentive Research Foundation (IRF) has just released a new white paper, Top 11 Incentive Trends for 2011.
"In the emerging economy, non-cash compensation will play an increasingly vital role for most firms. However, like any corporate resource, it needs to be invested wisely and managed properly. Our findings are intended to give planners the perspective they need to gauge options, make decisions and build a better business case in a changing industry," says IRF President Melissa Van Dyke.
Among the factors highlighted in the paper:
- Adjusting to a "new normal" that better fits today's budgetary constraints and the importance of transparency.
- The impact of globalization and the increasing interest in incentives by the BRIC countries.
- Increasing government involvement regulating gift cards and encouraging wellness incentives.
- Emerging participant preferences for meaningful experiences over tangible products.
- Changing social influencers and priorities that emphasize factors like CSR.
- Modifications tied to virtual communication and tactics like games.
"The expanding virtual nature of communications represents both opportunities and obstacles for incentive planners," said IRF Chairman of the Board of Trustees Jeff Broudy. "Digital communication makes it easier to develop, distribute, update and segment messages across audiences and can increase the motivational impact of pre- and post-event messages. We believe that planners who address both the opportunities and obstacles of our virtual world will be better prepared to manage the pros and cons of that conversation."
For a copy of the 2011 Trends white paper, go to http://tinyurl.com/4ft8kft.
About the IRF:
The Incentive Research Foundation (www.TheIRF.org) funds and promotes research to advance the science and enhance the awareness and appropriate application of motivation and incentives in business and industry globally. The goal is to increase the understanding, effective use, and resultant benefits of incentives to businesses that currently use incentives and others interested in improved performance.
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Melissa Van Dyke
SOURCE Incentive Research Foundation