Newsletter - May 2009
Welcome to the first edition of The Spark. You will receive the latest findings in people performance management and innovative ideas that will help you develop breakthrough strategies that move your people.
Enterprise Engagement Expo & Conference
We will be in New York for the Enterprise Engagement Expo and Conference formerly known as the New York Incentive, Rewards and Recognition Show, May 12th and 13th. Todd Hanson, President and Founder of Catalyst will be presenting a session on the hows and whys of measuring results of meetings and tying them directly to engagement strategies. Along with Jim Bufton, Director of Sales and Marketing, the two will be networking with attendees and illustrating how credible results measurement of incentives and meetings is an integral part of making an organization’s strategic plans bullet proof.
Preliminary Research Results on Economics of Engagement
Did you know… employee disengagement has been reported to be an annual $300+ billion problem in the US economy?
Next week at the Enterprise Engagement Expo and Conference, the Enterprise Engagement Alliance will reveal progress on the development of a standard measure of the economic impact of engagement. The goal is to create a comprehensive, credible and informative paper and presentation on the topic of “The Economics of Engagement”. We’ll provide updates as they become available.
An earlier study found a direct link exists between employee satisfaction, customer satisfaction and a company's financial performance. It supports the concept that engaging the enterprise isn’t just a good thing to do, it can be profitable. Check out the complete study...
The Enterprise Engagement Alliance is a coalition of leading organizations – founded by the Human Capital Institute, Peppers & Rogers Group, 1to1® Media and Selling Communications. Inc. – that are committed to broadening outreach and research on all aspects of Enterprise Engagement. Supporting associations include: Gallup Consulting, the Incentive Research Foundation, Business Marketing Association, and the Incentive Federation. Founding sponsors include: Carlson Marketing Group, Catalyst Performance Group, Dittman Incentive Marketing, EGR International and Maritz.
What do you mean, there's no space?
Despite the perfect storm that has negatively impacted meetings and events, we are finding it difficult to place moderately sized meetings in January 2010. Despite the wave of cancellations, sales meetings have proven to be the last to fall. If you need to launch a product, train a sales force or rebuild enthusiasm and engagement, leadership knows it is best accomplished face-to-face. And if you cancelled your 2009 program, you may have an even greater gap to bridge.
Do you need to meet in 2010? Redeploy a cancelled meeting or travel incentive? Get going and be flexible with dates and location. That will assure your ability to find an excellent value.
The New Application for ROI Data
Conventional wisdom considers results measurement a process improvement tool. Measure results, learn what worked and what didn’t, and use that information to improve the program. That’s still the case. But today the data collected from measuring results of an incentive or meeting can provide key stakeholders with much, much more. Armed with knowledge that a particular program created measurable results, leadership can defend current and past programs and justify future programs.
For example, six months ago a client's CEO debated the value of an annual sales meeting. His idea was to move the meeting to an 18 or 24 month cycle. Needless to say, the Vice President of Sales was not happy. How was he to create sales success without the benefit of the annual meeting? He would lose the opportunity to recognize performance, cast vision for the New Year, strengthen relationships, and build new capabilities.
That’s when Catalyst offered to measure the meeting’s ROI. After proving a cost benefit ratio of 3.8 to 1, the decision was simple. The annual meeting would continue uninterrupted. In fact, it's operating this week. Email for the case study at jim.bufton@catalystperformancegroup.com.
Catalyst Performance Group helps clients achieve greater success by engaging their people with the intelligent design, expert fulfillment, and credible results measurement of incentives, meetings and events, rewards and recognition, and integrated marketing.
We create breakthrough strategies that move people using research-based, holistic, and award neutral methodology.
