The Health And Wellness Industry Recognizes How Implementing Reward Programs

For example, AFLAC would award its employees who present themselves within the community or volunteer for many charities, with the Volunteer of the Month award. This award can build the morale of the employee and keep them engaged. In the end not only are employees being recognized for their philanthropic work, but also it allows AFLAC to gain rapport due to its continuous efforts in the community. Secondly, AFLAC utilizes sound performance and incentive as an enhancement tool in order to promote and develop employees for the next level within the organization and keep pace with the company’s overall goals and strategies. “Approximately 90 percent of employees were attracted to and remain at Aflac because of company reputation. Employees are happy with the profit-sharing bonus, with 81 percent of employees saying they believe it is better than that of other companies” (p.7). This strategy is a marketing tool that allows AFLACs employees to see endless opportunity, which has allowed AFLAC to retain over 91 percent of it,

Loyalty programs include frequent flier miles or points systems associated with credit card offers that can be used only with the original company, creating a perceived loss or cost when switching to a competitor. Most programs are able to get consumers to spend more money just to get to free or bonus item.

Buyers are the wildcard in the retail industry. Being able to research products for quality, suitability and price online, consumers are able to move from retailer loyalty to brand loyalty, giving them a lot of power. However, loyalty card systems increase the likelihood that shoppers will stay loyal to certain stores.

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

The key components to developing effective Reward Strategy is to ensure that there are clearly defined goals to meet business objectives, that the reward programme meets the needs of both the organisation and its employees, and to ensure that this is then supported by effective HR policies. In order to ensure these criteria are met there are a number of factors which influence how reward strategy is developed which include both internal factors within the organisation itself, as well as external factors outside the organisation.

The six features of an effective total rewards program include: focusing on alignment, taking the employees views into account, measuring / managing costs, the greater use of incentive based pay, having effective communication / education and managing the reward program. The combination of these factors is helping firms to more efficiently monitor the sales force.

Additionally a report compiled by Dr. Dursi of the University of Rhode Island showed that health promotion programs positively impact employee retention. Her research was able to show that employees who participated in wellness activities, sponsored by an employer, had longer employment tenure than those employees who did not participate (Dursi,2008).

A reward is a high extrinsic motivator. The reward can be monetary, gift certificate, day off with pay, a two hour lunch, or working for two hours on anything but work. All entice performance and competition in the workplace. A gold star, being the teacher’s helper for a day, no daily

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

By achieving to provide these reward programs for its company employees it stay in line with two of its guiding principles which is to supply quality service for their agents and provide an enriching and rewarding workplace for their employees. These rewards are also used to attract better qualified employees and to push employees to have a greater impact on their community. The needs of the company’s employees are a driving factor behind Aflac’s total rewards programs. Aflac’s total rewards statements which was originally a one page document is now an in-depth review of the value of the employment compensation and benefits. These are examples of non-traditional rewards that are used by Aflac. Traditional rewards that Aflac uses is that the company has an “Volunteer of the Month” where one of their employees goes and volunteers for a charity of their choice and they get rewarded by the company they also offer bonus, wages, internal promotion, voluntary benefits and paid leave.

The use of Information Technology in loyalty programs provides access to information of consumers that can be analyzed for decision making purposes. Information collected from consumers can be stored in data warehouse and analytical tools applied to it can provide business intelligence that will give businesses a competitive advantage.

|Personalization: The system will track customer usage patterns, which can be utilized in the future to target marketing messages to |

Throughout the years customer loyalty has grown to be one of the central goals of modern businesses. The longer you bind customers to your business, the less costly these customers become to serve. Over the years these customers become loyal and at some point they even become business builders. They are willing to pay premium prices, they spend more and they bring in new customers. Loyalty programs (discounts, gifts and such) are meant to act as a gate to improve the match between customers and their preferences and thus should benefit the customer. Others, however, claim that loyalty only chains consumers by making them more dependent on producers. Producers have great interest in more information on this topic so they can use this for their own marketing strategies.

As part of its marketing and branding efforts, H&M developed a social media strategy; a key component of which states that ‘’through the effective use of social media, millions of H&M fans and followers share ideas and opinions and get quick answers to their queries.” (H&M, 2014) This allows the company to get closer to its customers, allowing for better communication and feedback, and more useful marketing data. H&M collects massive amounts of raw information through the use of such data analysis tools as Google Analytics and Core Metrics, this is known as “cookies.” These are text files that are created every time you visit a particular website, and they can contain useful and valuable information about your interests and shopping habits. ‘’Previous purchases are often the single best guide to what a customer will buy next’’ (Davenport et al, 2011) This gives H&M the information to strategically target individuals through social media advertising creating what seems like a personal approach.

“The major goals of health promotion are to help people of all ages stay healthy, optimize health in cases of chronic disease or disability, and create healthy environments” (Pender et al., 2015). This health promotion project is designed to identify and reduce the risk factors associated with several illnesses and disease processes. This project will focus on changing lifestyle behaviors and providing up to date education for the patient to make the best informed decision regarding her environment, health behaviors, and developing a support system with her primary care physician.