The IRF Sign Up Information

  New IRF Study Reveals Reward & Recognition Strategies of Top Performing Manufacturing Companies   

The Incentive Research Foundation is pleased to release What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards, a deep dive into the results of the manufacturing / automotive segment included in the 2020 IRF Top Performer Study, released earlier this year. The study identifies the non-cash rewards strategies and tactics used by top performing manufacturing companies and provides benchmarks and best practices to help manufacturing companies design effective non-cash rewards programs.

“Many portions of the manufacturing industry, such as automotive, were among the most challenged as a result of COVID-19. As the industry recovers, it will need effective strategies to achieve high levels of productivity among sales personnel, channel partners, and employees,” said Stephanie Harris, IRF President. “What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards explains how the effective use of incentive programs can help give manufacturing companies a competitive advantage.”

What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards summarizes findings from data collected across multiple manufacturing firms and compares the results of top performing manufacturing firms to those of their average performing counterparts. The report first presents key overall findings, then drills down to results for sales reward programs, channel partner reward programs, and employee reward programs. 

Insights from the What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards include:

• Executive sponsorship increased for both top performers and comparators – although the gap is still large 
• Program reach is expanding for both top performers and comparator companies 
• Program collaboration is high among top performers and improving within comparators 
• More incentive trips are being awarded based on objective qualifications  
• Unlike other sectors, qualification criteria are getting simpler for manufacturing top performers 
• Both top performers and comparator companies are offering a greater variety of rewards 
• Top performers understand the importance of flexibility and relevance of rewards 

To download a copy of the full study and white paper, please visit the IRF''s webpage for What Top Performing Manufacturing Companies Do Differently for Incentives and Rewards.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

Register for the UNvitational: An IRF Virtual Experience
 

 
The Incentive Research Foundation is introducing a fresh new industry event – and we’re delivering it to you virtually. Over the course of two afternoons, the UNvitational will offer incentive professionals unexpected approaches to education and networking.

We are offering two different experiences for attendees to select from:

Education Only Experience
Rapid-fire, forward-thinking education sessions on December 1 and 2 that will include:

• Passion and Perspective: Lessons from Leaders
• Using Incentives to Accelerate Recovery
• Delivering with Impact: Incentives in a Virtual World
• Findings from the Incentive Travel Industry Index
• New Legal Considerations in a Post-COVID World
• Changing the Conversation About Your Program’s Value

The Education Only Experience is free to all registered attendees. No qualification is required.

Education & Engagement Experience
Foster new connections and grow existing strategic partnerships with industry peers and suppliers as we work to rebuild the industry in 2021 and beyond. In addition to the education sessions above, this experience also includes interactive, small group activities. Qualified buyers and supporter sponsors will be placed in a series of purposeful virtual groupings to ensure attendees meet as many as people as possible:

• Teambuilding activities and competitions 
• Insightful conversations with industry experts 
• Valuable small group roundtable discussions 

The Engagement & Education Experience is open to qualified buyers and supporter sponsors. Learn more about buyer qualification and supplier fees for participation here.

Don’t miss this opportunity to see what’s next for incentives and to reconnect with your industry colleagues during this exciting new event. UNvitational attendees can also expect a few surprises – including raffles for a chance to win your choice of incentive-inspired trips and merchandise.  

Visit the UNvitational website for more information and to register for this new event.
 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

IRF Board Chair Kari Vrba Invites You to the UNvitational: An IRF Virtual Experience

Click the image below to watch the video

We hope you will join at the IRF’s fresh new virtual event – the UNvitational is less than 2 weeks away! The IRF looks forward to bringing our community together to reconnect, learn, and have some fun in a virtual setting. Over the course of two afternoons, the UNvitational will offer incentive professionals unexpected approaches to education and networking, including:

• Rapid-fire education sessions on topics that will help position you for success in 2021
• Wellness breaks, including “Two Minute Moves” that will refresh and energize you
• Prizes for engagement, including a $500 Visa gift card donated by KSL Resorts and Maui Jim sunglasses
• Engaging discussions about what’s next for the industry
• Opportunities to contribute to future IRF research
• Silent Auction items for holiday shopping and 2021 travel planning

We are excited that so many incentives professionals have already committed to attending the UNvitational. In fact, as soon as you register, you’ll have access to the full attendee list.

Visit the UNvitational website for more information and to register for this new event.
 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  Incentive Travel Professionals Optimistic About Industry Recovery   

COVID-19 creates pent-up travel demand and greater emphasis on qualifier engagement

The newly released 2020 Incentive Travel Industry Index (ITII) survey found that two-thirds of incentive travel buyers and suppliers expect incentive travel to recover within one to two years, once post-COVID conditions have been reached. Post-COVID conditions were defined as those in which travel can occur safe from COVID, such as with widely available vaccine(s) or disease containment.

“While our industry has witnessed widespread impact due to the pandemic, those professionals have responded not only with structural changes to incentives such as program delays and implementing alternative rewards, but also new investment,” said Incentive Research Foundation (IRF) President Stephanie Harris. “The industry has built important capabilities to position it for future success, such as improved digital marketing and a renewed focus on the motivational power of travel rewards. This shows the continued commitment to and high perceived value of incentive travel.”

The desire to travel is the greatest positive factor expected to influence the recovery, with 64% citing greater appreciation for travel after being restricted from doing so. Most senior-management stakeholders (83%) who sponsor incentive travel remain committed to incentive travel, although many buyers expect incentive travel will need to fundamentally change to reduce risks. Key impediments to this recovery include company risk aversion to travel and qualifier reluctance to travel post COVID-19.

“Once recovered, 77% of survey respondents expect incentive travel to be very similar or moderately changed relative to pre-COVID conditions,” said Financial & Insurance Conference Professionals (FICP) Executive Director Steve Bova, CAE. “Sanitation and health security will be permanently more important risk management strategies. Within the financial and insurance industry, we see greater optimism about recovery and stronger desire to travel, but this is counter-balanced by greater reluctance among qualifiers to travel and higher company risk aversion. Given the more conservative nature of our sector, it is not surprising to see a significant shift toward participant safety.”

In addition to new risk management strategies, future destination selections and program characteristics and activities are also anticipated to shift as a result of the pandemic.

“Regarding destination selection, the survey confirms what we’ve been hearing anecdotally for some time: in the short to mid-term, domestic and close-by destinations will replace trans-continental and international destinations. However, there’s also a decisive shift away from buzzy urban locations to quiet countryside retreats and a definite preference for ‘the road less travelled’,” said the Society for Incentive Travel Excellence (SITE) Chief Marketing Officer Pádraic Gilligan. “Not surprisingly, destinations with a low incidence of COVID-19, or those perceived to have dealt effectively with it, rank very high - even if they’re long haul - with the Caribbean, Abu Dhabi / Dubai, Canada and South East Asia, coming in the top five for UK buyers.”

In the post-COVID world, incentive travel buyers also anticipate “soft power” benefits such as improved engagement, enhanced customer satisfaction and better relationship-building both between employees and management and among fellow employees to be among the greatest benefits of incentive travel. This marks a shift from 2019, when company sales and profits were top-ranked benefits. A renewed focus on experiences that will delight the individual traveler, with fewer corporate obligations such as group dining and team building, was seen in post-COVID incentive program activities.

For additional key findings from the 2020 ITII survey or previous-year data, visit https://www.incentiveindex.com/.

###

About the ITII

This is the third year of the collaboration between FICP, IRF and SITE Foundation on the Incentive Travel Industry Index. With research partner Oxford Economics, the organizations have again created an indispensable annual report on the state of incentive travel, providing data on current and future evolution.

The 2020 online survey, fielded September 10-October 28, 2020, was customized for five distinct incentive travel persona representing buyer and seller roles. Incentive travel professionals were invited to participate. Nearly 2,400 industry professionals, representing 19 industry verticals, 41 source markets and 91 destinations, participated in the survey.

The 2020 Incentive Travel Industry Index is sponsored by:

Champion Level: Destination Canada

Prime Level:   

• Abu Dhabi Convention & Exhibition Bureau
• Accor
• IMEX Group

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  New IRF Study Reveals Reward & Recognition Strategies of Top Performing  Technology Companies   

The Incentive Research Foundation is pleased to release What Top Performing Technology Companies Do Differently for Incentives and Rewards, a thorough analysis of the technology segment included in the 2020 IRF Top Performer Study, released earlier this year. The study identifies the non-cash rewards strategies and tactics used by top performing technology companies and provides benchmarks and best practices to help manufacturing companies design effective non-cash rewards programs. 

“Technology firms are providing critical services to help businesses, education providers, and individuals deal with disruptions from COVID-19. However, the technology industry is still impacted by the economic downturn, and many technology budgets will be reduced or removed,” said Stephanie Harris, IRF President. “What Top  Performing Technology Companies Do Differently for Incentives and Rewards explains how the effective use of incentive programs can help technology companies develop strategies to achieve high levels of productivity among sales personnel, channel partners, and employees during these rapidly changing times.”  

What Top Performing Technology Companies Do Differently for Incentives and Rewards summarizes findings from data collected across multiple technology firms and compares the results of top performing technology firms to those of their average performing counterparts. The report first presents key overall findings, then drills down to results for sales reward programs, channel partner reward programs, and employee reward programs.  

Insights from the What Top Performing Technology Companies Do Differently for Incentives and Rewards include: 

• Executive sponsorship increased for both top performers and comparators – although the gap is still large  
• The technology sector differed from others in that both top performers and comparators overwhelmingly awarded winners automatically based on pre-defined goals 
• Program reach is expanding for both top performers and comparator companies  
• Both top performers and comparator companies are offering a greater variety of rewards  
• Top performers prioritized flexibility and relevance of rewards  

To download a copy of the full study and white paper, please visit the IRF''s webpage for What Top Performing Technology Companies Do Differently for Incentives and Rewards.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

Time is Running Out!

Bid on Fantastic Silent Auction Packages Now!

Auction Closes at 5:00 pm ET TODAY, Thursday, December 3

The clock is ticking, but you can still win amazing items from the IRF UNvitational Auction! Many items are still at their low opening bid!

Whether you want to stay close to home, or plan your next adventure, packages with the US, Canada and Caribbean, to Africa, Switzerland and Amsterdam are available at leading, luxury properties. Many packages are good into 2022 to give you time to plan and travel

Visit the Handbid Website for the IRF UNvitational Auction to browse and bid on all Silent Auction items.

• Click “browse items” to see all Silent Auction items
• Click “register” to begin bidding

Browse & Bid Now

Auction proceeds benefit The Incentive Research Foundation, a 501(c)(3) tax-exempt organization. Proceeds from the auction further our mission to fund research studies and education that provide valuable insight into the effective use of non-cash incentives. Your ongoing support during this challenging year is deeply appreciated. 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  Optimism for Recovery Reported in IRF’s Industry Outlook for 2021: Merchandise and Gift Cards  

The Incentive Research Foundation’s Industry Outlook for 2021: Merchandise and Gift Cards reports a more optimistic outlook for 2021 than might be expected after the challenges resulting from the pandemic. The new study provides useful insights and benchmarks on non-cash reward types, average spend, and how incentive programs have changed in response to the pandemic.

“The good news is the value of incentives has been established within organizations leading to budgets holding steady in many cases. Incentive programs looked very different in 2020 with many organizations using merchandise or gift cards to keep teams motivated while incentive travel is on hold,” said Stephanie Harris, IRF President. “As look toward 2021, the effectiveness of merchandise and gift cards as motivators will continue to be a key to the growth and success of many incentive programs.”

The IRF surveyed 322 industry professionals, including corporate, supplier, and third party segments, tracking key metrics over eleven years. The study provides trends in economic optimism, budgets, and award types for incentive programs. Key findings in Industry Outlook for 2021: Merchandise and Gift Cards include:

• Gift Card Spend Up During Pandemic: 35% of respondents increased their gift card spend overall, 19% spent less, with the rest spending about the same on gift cards.
• Merchandise Spend Remained Stable During Pandemic: 33% increased their merchandise spend overall, with 31% spending less, and the rest spending about the same on merchandise.
• Outlook for 2021 is Optimistic: Industry stakeholders have optimistic expectations for 2021, with 64% reporting they expect their company to have strong financial performance, down from 85% this time last year before the pandemic.
• Incentive Budgets See Modest Increases for 2021: 2021 budgets are expected to show modest increases of 7% overall. The highest increases are for program technology (26%), gift cards (16%), and communications (16%).
• Increased Use of Gift Cards and Merchandise in 2021: A net increase for in the use of gift cards (33%) and merchandise (24%) is expected for 2021.

To view or download a copy of the Industry Outlook for 2021: Merchandise and Gift Cards please visit: https://theirf.org/research/industry-outlook-for-2021-merchandise-and-gift-cards/3036/

For insights into the current state and outlook for incentive travel, view or download a copy of the 2020 Incentive Travel Industry Index: https://theirf.org/research/2020-incentive-industry-travel-index/3026/

Thank you to our Research Advocacy Partner

Bonusly’s recognition and rewards solution is the fun and easy way to engage all of your employees, build a connected culture, and improve retention and productivity at every level of your organization. Our platform helps people connect with their work and each other in meaningful ways. Learn more about employee recognition and rewards at bonus.ly.

  New IRF Study Reveals Reward & Recognition Strategies of Top Performing  Financial Services Companies   

The Incentive Research Foundation is pleased to release What Top Performing Financial Services Companies Do Differently for Incentives and Rewards, a thorough analysis of the financial services segment included in the 2020 IRF Top Performer Study, released earlier this year. The study identifies the non-cash rewards strategies and tactics used by top performing financial services companies and provides benchmarks and best practices to help financial services companies design effective non-cash rewards programs.

“Disruptions from COVID-19 have had a tremendous impact on the operations, customer base, and workforce of financial services institutions,” said Stephanie Harris, IRF President. “As financial services companies adapt, What Top Performing Financial Services Firms Do Differently for Incentives and Rewards shows how the effective use of incentive programs can help motivate performance, drive recovery, and ultimately gain a competitive advantage.”

What Top Performing Financial Services Companies Do Differently for Incentives and Rewards summarizes findings from data collected across multiple financial services firms and compares the results of top performing financial services firms to those of their average performing counterparts. The report first presents key overall findings, then drills down to results for sales reward programs, channel partner reward programs, and employee reward programs.

Insights from What Top Performing Financial Services Companies Do Differently for Incentives and Rewards include:

• Executives at top performing financial services firms regard their reward and recognition programs as a competitive advantage (92% in 2020, up from 76% in 2019 study)

• Top performers are more likely to award incentive trips based on automatic selection 
• The use of gift cards and group incentive trips increased for top performers and comparators 
• Top performers prioritized flexibility and relevance of rewards for both tangible rewards and incentive trips
• Top performing financial services firms structured programs with the goal of participant reach – but gap between top performers and comparators was smaller than reported by manufacturing and technology firms in the Top Performer Study

To download a copy of the full study and white paper, please visit the What Top Performing Financial Services Companies Do Differently for Incentives and Rewards webpage.

Survey Open: Incentive Travel Industry Index   

Great research is vital for mapping out and planning for the future.

That’s why the IRF, FICP & SITE partner each year with market leader Oxford Economics to conduct the most comprehensive research ever into the incentive travel industry and its future evolution.

This year, in particular, its vital that we gather global data points around the impact of the pandemic on our industry so that we can start to navigate our way forward in the new normal.

Below you’ll find a link to #IncentiveIndex20, this year’s Incentive Travel Industry Index (ITII).

It will take 15 – 20 minutes of your time to complete the survey, but please stick with us until the end. In return you’ll receive a comprehensive view of the incentives industry in 2021 and beyond.

Read last year’s Incentive Travel Industry Index here. 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

Registration for the UNvitational is
NOW OPEN

 
The Incentive Research Foundation is introducing a fresh new industry event – and we’re delivering it to you virtually. Over the course of two afternoons, the UNvitational will offer incentive professionals unexpected approaches to education and networking.

We are offering two different experiences for attendees to select from:

Education Only Experience
Rapid-fire, forward-thinking education sessions on December 1 and 2 that will include:

• Passion and Perspective: Lessons from Leaders
• Using Incentives to Accelerate Recovery
• Delivering with Impact: Incentives in a Virtual World
• Findings from the Incentive Travel Industry Index
• New Legal Considerations in a Post-COVID World
• Changing the Conversation About Your Program’s Value

The Education Only Experience is free to all registered attendees. No qualification is required.

Education & Engagement Experience
In addition to the education sessions above, this experience also includes interactive, small group activities to foster new connections and grow existing strategic partnerships with their industry peers and suppliers as we work to rebuild the industry in 2021 and beyond:

• Teambuilding activities and competitions 
• Insightful conversations with industry experts 
• Valuable small group roundtable discussions 

The Engagement & Education Experience is open to qualified buyers and supporter sponsors. Learn more about buyer qualification and supplier fees for participation here.

Don’t miss this opportunity to see what’s next for incentives and to reconnect with your industry colleagues during this exciting new event. UNvitational attendees can also expect a few surprises – including raffles for a chance to win your choice of incentive-inspired trips and merchandise.  

Visit the UNvitational website for more information and to register for this new event.
 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

The Incentive Research Foundation announces the release Reward Preferences: Making a Lasting Impression on Incentive Program Participants, a comprehensive review of how to select and present rewards that will increase motivation and make a lasting impact on employees. The study examines which rewards employees prefer the most, which rewards employers use most frequently, and which rewards most closely correlate to motivation.

“Reward Preferences reports which rewards employees say they want, and then examines which rewards correlate to motivation. There are some surprising differences between these two lists,” said Stephanie Harris, President, IRF. “Well designed incentive programs factor in both employee preferences as well as the impact of the reward on motivation and engagement.”

The IRF surveyed 1,500 US-based full-time employees representing a cross-section of industries. Key findings and insights included:

• While employees expressed a strong preference for cash bonuses, this reward did not highly correlate to motivation or job satisfaction. 
• “Having your employer send a token of appreciation sent to your spouse or family members” was ranked fourteenth in reward preferences, but it was the second highest reward on the motivation ratings.  
• Employees who are most satisfied with their jobs are fifteen times more likely to recommend the company to prospective employees as a place to work. 

The study also addresses the effects of the pandemic on employee preferences:

• Only 16% indicated their reward and recognition preferences had changed since the pandemic.
• Interest in incentive travel still high since pandemic. The net decrease in interest in travel experiences that involved flying was less than 1%. 
• Those whose hours have been increased expressed a desire for increased compensation, including direct cash bonuses, gift cards, and merchandise.  

To read or download the full study, please visit the Reward Preferences: Making a Lasting Impression on Incentive Program Participants webpage.

Thank you to our Research Advocacy Partner

Tango Card believes rewards and recognition programs should be awesome. By integrating the best digital gift cards into modern platforms and programs, Tango Card helps their partners reward their employees and customers instantly and get real business results.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

Take the Survey: Incentive Industry Outlook for 2021   

Merchandise & Gift Cards  

Your participation in the Industry Outlook for 2021: Merchandise & Gift Cards Survey will help the IRF deliver industry insights about where incentives are headed in 2021. We need your input into key areas such as:

• The impact of the pandemic on incentive programs
• Administration of incentive programs
• Use of gift cards as rewards
• Budgeting strategies, constraints, increases
• Types of merchandise used as rewards

This survey should take no more than 5-7 minutes to complete. In return you’ll receive a comprehensive view of the incentives industry in 2021 and beyond.

Read last last year''s report, Industry Outlook for 2020: Merchandise, Gift Card, and Event Gifting here. 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  IRF Reports Stability and Flexibility in Incentive Programs in Response to COVID-19  

The Incentive Research Foundation recently conducted its second “pulse survey” about the impact of COVID-19 on the incentives industry. COVID-19''s Impact on Reward & Recognition reports how employee and channel reward recognition programs have changed in response to the pandemic. 

“Reward and recognition programs play a vital role in helping to maintain employees’ focus and energy during difficult times,” said Stephanie Harris, IRF President. “This survey demonstrates that many incentive programs are performing well due to thoughtful shifts in programs that ensure relevance to participants today and help drive faster recovery for their organization.”

A high level of stability for incentive programs was reported, with over 65% of respondents indicating their programs are viewed as strategically relevant by senior management – and 12.5% indicated their program is viewed as more strategically relevant now than prior to the current pandemic. Key findings in COVID-19''s Impact on Reward & Recognition:

Where Programs Continue, Budgets Hold
Over half indicated that programs remained intact (53%), and budgets for these programs have largely been protected with 56% reporting no budget change.

Pivoting Priorities 
Program owners have indicated they continue to adapt their programs to ensure relevancy, shifting the focus to whatever is critical within the organization – growth-oriented objectives, safety-oriented objectives, health and well-being objectives, revenue retention. 

Rethinking Rewards
With travel down, there has been an increase in the use of gift cards, with 6% indicating they have added cards to their programs and nearly 20% noting increased use. 

Overcoming Optics
While just over half (54%) of respondents indicated they were not concerned about the optics of operating an incentives program in a declining economy, 31% of respondents who cancelled or put their program on hold cited “perception concerns from leadership relative to economic conditions.”  

To download a copy of the report, please visit the IRF’s webpage for COVID-19''s Impact on Reward & Recognition.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

Survey Open: Incentive Travel Industry Index   

Did you try to take the survey last week and run into problems? A technical issue has been resolved. Please try again now! 

The IRF, FICP & SITE Foundation partner each year with market leader Oxford Economics to conduct the most comprehensive research ever into the incentive travel industry and its future evolution.

This year, in particular, its vital that we gather global data points around the impact of the pandemic on our industry so that we can start to navigate our way forward in the new normal.

Below you’ll find a link to #IncentiveIndex20, this year’s Incentive Travel Industry Index (ITII).

It will take 15 – 20 minutes of your time to complete the survey, but please stick with us until the end. In return you’ll receive a comprehensive view of the incentives industry in 2021 and beyond.

Read last year’s Incentive Travel Industry Index here. 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

IRF Vice Chair Jim Kelley Invites You to Bid on Fantastic Silent Auction Packages

Click the image below to watch the video

The IRF UNvitational Auction is open to everyone this year! Even if you can’t make it to the UNvitational, you are still invited to participate in the IRF Silent Auction. Do some holiday shopping or start planning your return to travel. We have fantastic packages that will take you to amazing locations near and far:

• Stay close to home and visit luxurious properties in the US and Canada
• Plan your next international adventure with trips to Europe, Mexico, the Caribbean, and Africa
• Bid on first-class airfare tickets
• Many packages are good into 2022 to give you time to plan and travel

The Auction is Live Now! Browse and Bid Online

Visit the Handbid Website for the IRF UNvitational Auction to browse and bid on all Silent Auction items.

• Click “browse items” to see all Silent Auction items
• Click “register” to begin bidding
• The Auction Closes Thursday, December 3 at 5:00 pm ET

Browse & Bid Now

There is still time to register for the UNvitational. Visit the UNvitational website for more information and to register for this new event.
 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  New IRF Study Examines Incentive Program Metrics, Reporting and Accountability  
 

In times of economic downturn, companies are increasingly pushing for higher accountability for their incentive programs. The IRF’s new study, Metrics of Success for Incentive and Reward Programs, examines how businesses are measuring, reporting, and defending the benefits of incentive programs. 

“Your incentive program is an important tool to motivate your workforce and keep them engaged, particularly as the hard work of rebuilding business begins,” said Stephanie Harris, President, IRF. “Taking steps to position your program as a driver of performance and revenue with a strong combination of hard and soft metrics can help solidify your program’s place within your organization.”

In the face of a global pandemic, companies are challenged to dramatically cut costs, and difficult decisions are being made about what is essential versus expendable. Historically, incentives programs were primarily believed to drive ‘soft’ outcomes like engagement, morale, and loyalty. The data presented in Metrics of Success for Incentive and Reward Programs show this trend was beginning to change, even prior to the pandemic. The industry was starting to place more focus on hard metrics showing return on investment.

When the study was administered during the summer of 2019, 27% of respondents indicated that in the event of an economic downturn, they would be asked to discontinue non-cash reward and recognition programs until business improved. The largest percentage (43%) said they would proportionately reduce program budgets to match wider company budget reductions. Additional key insights reported in Metrics of Success for Incentive and Reward Programs include:

• Most program owners (78%) considered their incentive programs to be successful. This was especially true of large businesses, with 85% of program owners at companies with revenues in excess $1 billion reporting success.
• The majority (81%) believed external partners could produce insight to improve program results. However, only about one-third (36%) worked with outside agencies to support their incentive and rewards programs, and one-third (31%) worked with external consultants to evaluate their programs. 
• While the majority (82%) said detailed analysis would guide executive investment decisions if it were available, over 40% of companies reported that they struggled to get their executive teams to pay attention to the data

To download a copy of the full study, infographic, and white paper, please visit https://theirf.org/research/metrics-of-success-for-incentive-and-reward-programs/2772/

The release of the IRF’s Metrics of Success for Incentive and Reward Programs was supported by IRF Research Advocacy Partner, ITA Group.

ITA Group provides integrated engagement solutions that uniquely align, motivate and inspire your employees, channel partners and customers. Fueled by data, steered by experts and custom crafted for your unique business challenges, engagement solutions by ITA Group deliver results you can count on day after day. Since its founding more than 55 years ago, ITA Group has been exploring and experiencing the world. ITA Group is setting the industry standard in incentives, incentive travel, events and employee experience solutions. ITA Group creates personalized experiences and inspire emotional connections that produce desired outcomes for its clients. Learn more at itagroup.com.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

The Incentive Research Foundation announces the release of Incentive Program Design for Crisis Recovery, a study of strategies and best practices for incentive program design. The new study offers insights into how organizations can use incentives to address the immediate challenges presented by the pandemic and how incentives can accelerate recovery.

“Employees who have been fortunate enough to retain their positions are working harder than ever for the same, or even less pay. A company that does not recognize and show that they value their employees right now faces the consequences when the economy swings back to some sort of normal growth,” said Sandi Daniel, FIRE Light Group, in an interviewee for the study.

Industry experts are quoted throughout the study, providing deep insights and practical knowledge. The study also includes complete interviews with nineteen industry experts. Drawing on the IRF’s research, classic studies, current academic research, and interviews with industry professionals, Incentive Program Design for Crisis Recovery is presented as three short articles:

• Timeless Principles of Effective Program Design provides an overview of the core building blocks of strategic incentive programs.
• Seven Critical Questions outlines how to establish program objectives, determine what goals or behaviors will be rewarded, and select the types of rewards.
• Eight Proven Practices offers practical advice from industry experts about design and rules structure elements that have consistently made their incentive programs effective.  

“Especially during times of crisis, a well-designed incentive program can have a tremendous impact on employee performance,” said Stephanie Harris, President, IRF. “This study discusses all the elements that contribute to an incentive program that motivates employees and partners to work toward the company’s goals. Given the current pandemic, this study emphasizes the need for program design to be agile and adaptable to unexpected challenges and new goals.”

To read the three articles, download the full study, or read the expert interviews, please visit the Incentive Program Design for Crisis Recovery webpage.

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  IRF Report: Cancellations of 2020 Incentive Trips Trending Up

Many Trips Scheduled to Resume Q2 2021  

As COVID-19 continues to impact the travel industry, the Incentive Research Foundation conducted its second pulse survey about incentive travel award programs. Comparing data collected in July to April 2020, COVID-19’s Impact on the Incentive Travel Industry (July 2020) reports the rate of cancellations for 2020 has increased by 70%. Most incentive travel programs were projected to resume during the second quarter of 2021.

“Although incentive travel has been postponed, employee motivation and recognition continue to be critically important during these challenging times,” said Stephanie Harris, IRF President. “Incentive program owners are shifting their 2020 strategies to focus on virtual recognition events and providing alternate awards – while planning a return to incentive travel in 2021.” 

Key findings in COVID-19’s Impact on the Incentive Travel Industry include:

• The rate of cancellations for incentive travel programs in 2020 is 42.5% (compared to 25% reported in April)
• The second quarter of 2021 is  the soonest incentive trips will be held for most program sizes
• Of those who postponed their incentive travel reward, 79% noted that there had been no change to their budget, an increase of 9% over the April findings
• Among those cancelling their programs, 78% were providing alternative awards, including points, gift card, merchandise, and individual travel options
• Attendee sentiment (e.g., willingness to travel) was the leading decision factor for moving forward with operating an incentive travel program

To download a copy of the report, please visit COVID-19’s Impact on the Incentive Travel Industry (July 2020) webpage. 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org

  New IRF Disruption Study Reports Incentive Industry''s Challenges, Optimism for Recovery from Impact of COVID-19  

The Incentive Research Foundation announces the release of COVID-19 and Disruption in the Incentive Travel, Meetings and Events Industry: Adaptation and Recovery. The report reviews threats to running incentive programs, including COVID-19, weather, travel hazards, politics, economic downturns. With a focus on the impact of COVID-19 on the industry, the report provides strategies for business survival and recovery.

“As we plan for recovery and a return to in-person meetings and travel, safety concerns prevail,” said Stephanie Harris, President, IRF. “This study provides actionable advice from industry leaders on how to rebuild incentive programs through strategic collaborations with clients, participants, hotels and resorts, DMCs, and partners.”

COVID-19 and Disruption in the Incentive Travel, Meetings and Events Industry is based on panel discussions with 36 industry leaders, poll results from 250 more, and survey findings from 791 respondents from around the world. Key findings include:

• According to an April 2020 IRF survey, the top concerns about participating in work or reward-related travel were the threat of an epidemic/pandemic at 33%, closely followed by severe weather at 29%. 
• People are beginning to anticipate and crave travel, with a focus on new experiences at safe destinations within driving distance or that involve shorter flights. 
• International travel, especially in large groups, may not return to previous norms until a vaccine and/or an effective treatment for COVID-19 is developed and made widely available. 
• Program owners who postponed incentive travel programs expressed a strong need to continue recognizing and rewarding outstanding employees. When incentive travel programs were cancelled, they were often replaced by points, merchandise and/or gift cards. 
• Using 9/11 and the Great Recession as reference points, and assuming a vaccine is available next year, the industry might expect and plan for a return to pre-COVID-19 revenues by late 2022 or early 2023.  

 
Despite challenges, postponements, and program changes, study participants consistently emphasized the importance of incentives. “We know that travel incentives are among the most cherished rewards. This will only be heightened. The pandemic has reminded people of their vulnerability, it will give them a sense of living; that life is precious, and they must get out from behind the desk to appreciate it,” said an incentive reward program designer during an interview for the study.

To download a copy of the full study, please visit the IRF''s COVID-19 and Disruption study webpage.

 

ABOUT THE IRF

The Incentive Research Foundation (IRF), a private not-for-profit foundation, funds research studies and develops products serving all segments of the global incentive industry. The Foundation focuses its initiatives on pragmatic research highlighting the premise and the power of incentive and motivational programs. 

The IRF | 7918 Jones Branch Drive, Suite 300 | McLean, Virginia, 22102 US | theirf.org