Personalised marketing firm Citipeak Events respond to reports that rewards are good for business. Here the London-based firm explains why a rewards-based culture is a crucial factor to business success, and how they have comprised it to be a significant part of their business model.
Having the right type of people within an organisation is key to business success, and SME’s must find a way to compete with an alluring benefits package offered by their larger competitors to attract and retain top talent.
Recently, research by American Express found that 95% of SME business leaders would reward their workers from a business rewards system the recognises hard work and individual achievements.
The personalised marketing firm Citipeak Events believes that companies who embrace a rewards-based culture will find their workforce more engaged, productive and motivated to stay. The firm highlight that in the same study by American Express, 94% of people said they would stay put if a company regularly rewarded them.
Citipeak Events go on to state that SMEs must get innovative in how they deliver rewards to their workers if they are to keep them from straying to larger, rival firms.
Citipeak Events encompass a reward based-culture for their workforce of talented entrepreneurs. Managing Director, Nick Johnson has made it part of the firm’s business model to immediately recognise and reward hard work and individual, or team achievements.
“Rewards and incentives go a long way to help motivate our team and deliver the best results for our clients,” said Nick Johnson. “The type of rewards we offer include dinners at top restaurants, trips to sporting activities such as go-karting, spa days and monetary incentives. I like to make sure that the rewards are specific to the interests of the individual or team to make them relevant,” added Johnson.
A rewards-based culture has a significant impact on the success of Citipeak Events and the professional progression and development of their entrepreneurial workforce.
Just a couple of weeks ago, the firm was treating to a go-karting experience. Such team-based activities bring out the competitive nature of individuals, which is a useful characteristic when working within the sales and marketing industry.