Showing posts with label incentives. Show all posts
Showing posts with label incentives. Show all posts

Wednesday, November 10, 2021

It's not an office, it's a talent hub.

As the pandemic continues to disrupt our lives, many of us are eager to get back to our offices, others, not so much.  It doesn't help that there's still a need for masking and social distancing at the office.  It kind of takes the fun out of those water cooler moments that everyone has been missing.

But, a survey last spring by the Harvard Business school found that 27% of workers want to continue working remotely full time.

The majority of workers - 61% - would prefer a hybrid schedule, going in to the office 2-3 days a week.

Not surprisingly, the 18% who want to go back full time are more likely to be married and more likely to have kids. (Reichert, 2021)

CEO's on the other hand want their employees back full time.  No surprise there.

But in the face of "The Big Resignation" companies are trying all sorts of ways to lure employees back.

Doner agency has decided that rather than opening an office in Chicago they will launch a new Chicago "talent hub."  (Whitman, 2021))

Well, words do matter.  Just ask Meta.

Solutions from other companies include:

·         JBS USA Holdings Inc.  - helping to build homes for employees to buy.

·         Levi Strauss & Co. - free computer coding classes

·         Target, Walmart, & Amazon - helping to pay for college tuition and books

·         project44 - a company-subsidized van - complete with a bed, toilet, shower and wifi so they can combine work with family road trips

But perhaps the most interesting perk is the one being offered by David's Bridal LLC. 

During the pandemic the company had trouble getting access to professional models for photo shoots so it turned to its 11,000 employees.  Staffers volunteered to take photos of themselves in clothing from the chain and posted the photos on social media. 

About 300 people have participated so far, and employee satisfaction is up +20% compared with pre-Covid levels.  The company also says that almost all of its workers who were furloughed during lockdown have returned. (Kapner & Cutter, 2021)

Is a Talent Hub just an office by another name?  Why do you think modeling was such a hit for David's bridal?  Do you think any of the other incentives will be successful?  Which ones and why?  Have you heard of any other incentives that you think will work?  Can you think of any that should be tried?

 

Reichert, C. (2021, March 25)  Over 80% of workers don't want to go back to the office full time, survey finds  cnet.com  Retrieved November 8, 2021, from  https://www.cnet.com/health/over-80-of-workers-dont-want-to-go-back-to-the-office-full-time-survey-finds/

Whitman, R. (2021, November 4)  Don't Call It An Office: Doner Opens Chicago 'Talent Hub'.  mediapost.com.  Retrieved November 8, 2021, from https://www.mediapost.com/publications/article/368416/dont-call-it-an-office-doner-opens-chicago-tale.html?utm_source=newsletter&utm_medium=email&utm_content=headline&utm_campaign=124207&hashid=pWUJIUyQGMyJVccRQy8fKxuJEXY

Kapner, S. & Cutter, C. (2021, November 4)  When Bonuses and Raises Aren't Enough, Try Manicures and Free Clothes. wsj.com.  Retrieved November 8, 2021, from https://www.wsj.com/articles/when-bonuses-and-raises-arent-enough-try-manicures-and-free-clothes-11635949795

 

 

Friday, May 5, 2017

If you want sales, why are you rewarding engagement instead?



The title of my book - Why Does It Make You Want To Buy Something?  is meant to be a reminder for marketers that good marketing sells stuff.  That is its purpose.  If it doesn't sell stuff then someone gets fired - usually the agency.  Or the company goes under.

So why aren't companies aligning incentives with sales goals?

According to TrackMaven's 2017 Marketing Leadership Survey, despite the fact that 61% of marketers say their top objective is to increase sales, only 23% of compensation is based on revenue.  Instead marketers are being evaluated based on engagement (91%), consumption (82%) and audience growth (78%) despite the inability to show any correlation between these measures and sales growth. (Loechner, 2017)

Yes, that's right.  71% say their top challenge is attributing the revenue impact of social and content marketing.  (Burney, 2017)  So why assume that it is having any positive impact on the bottom line at all? 

It wasn't such a big deal when digital costs were low, but these days a premium Instagram campaign costs $1 million.  For that amount of money you could run a solid month of advertising on network television, which is still the most effective marketing medium.  And since Americans 18-24 are watching 15 hours and 36 minutes of traditional television a week, you won't lack opportunities to reach them. (2017)

No wonder I just saw a commercial for Harry's.

Loechner, J. (2017, May 4)  mediapost.com.  Misalignment Of Incentives With Goals Plagues Marketers.  Retrieved May 5, 2017, from

Burney, K. (2017, April) What Marketing Leaders Think About Strategy, Technology, and Data-Driven Change.  trackmaven.com.  Retrieved May 5, 2017, from

(2017, April 24) The State of Traditional TV: Updated With Q4 2016 Data.  marketingcharts.com.  Retrieved May 5, 2017, from