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|Employee Rewards Program|
Motivated, loyal and high-performing employees are your best employees because they help create and keep loyal customers. It's been shown that an increase of 5% in employee retention can yield profit increases of 25% or more, so you want to preserve your biggest asset your people. Omega's Customer Advocacy and Retention (CARE) Reward Program is designed for companies that want to motivate and reward employees to perform at the highest level by linking a portion of their compensation to measurable increases in customer satisfaction and loyalty.
One of the most dynamic customer contact areas is the call center, where critical customer service and support activities take place that play a major role in generating incremental revenue as well as retaining existing customer relationships that could otherwise be lost.
The CARE Reward Program varies from awarding points to individuals and groups for achieving service excellence, and then allowing employees to redeem their points from free merchandise and gift cards to, a night on the town and other rewards. The use of non-monetary rewards has been shown to have a more enduring value to recipients and also builds a greater sense of personal esteem.
Individual incentive programs are meant to reward designated employees in a given group. To determine reward metrics, we survey actual customers with whom each employee has recently serviced. Points are credited to the employee's portfolio based on the customer's weighted average survey responses about the employee's performance. Points are tracked on a monthly basis and typically are tallied over time for employee of the year recognition and rewards.
Group incentive programs are intended to determine service and support excellence for teams of employees performing the same or comparable tasks. In this case, our surveys determine overall satisfaction levels for each team. As with individual rewards, points are tracked on a monthly basis and typically are tallied over time for team of the year recognition.
In cooperation with participating companies, we administer all aspects of the program, from devising a point structure based on customer service and support tasks to selecting reward folios that make financial sense to the company and provide strong motivation for employees.
A typical example of a CARE Reward Program may be using a rating scale of 1 to 5, where 5 = Exceeded and 1 = Did Not Perform. The following metrics may be used:
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