How Training Incentives Can Make your Business Thrive An excited sales team is motivated to learn more about your products. Passion is a driving factor behind increased product sales, and you can ignite enthusiasm with a well-developed training program. Integrating training incentives into your learning plan with a Learning Management System (LMS) will improve the success of your business. Training incentives result in more engaged users, and that amplifies sales knowledge and performance.
There are various types of training incentives out there, with a bonus system being one of the most common. But are cash incentives the most effective? The Training Magazine article Why Cash Doesn’t Motivate says no. Incentives and rewards are an effective way to cultivate employees’ overall happiness, boost retention and bolster productivity. There are less conventional incentives out there that are proven effective. Many of these are cumbersome to implement and a headache to manage. And even though the trinkets and trash with your company logo on them are easy, they aren’t that appreciated.
Some manufacturers utilize gift cards to reward the completion of training courses and work. BlueVolt’s $BlueBucks is a good example of an easy-to-use and very effective gift card program. $BlueBucks is a built-in program that rewards learners as they successfully complete training through their company’s university. It’s proven to increase training program enrollment by up to ten times. Using an LMS with an integrated incentive program ensures that more learners are successfully completing courses within your company. BlueVolt’s $BlueBucks pay-for-performance program gives administrators the ability to choose which courses to offer rewards, and how many to award. Once users complete all required sections of such a training course, they automatically earn the $BlueBucks. Learners can convert their $BlueBucks into virtual gift cards accepted by designated merchants, or apply any portion of their $BlueBucks toward the cost of a paid course they wish to take, or even donate them to charity.
Training incentives benefit a company by encouraging course completion, improved sales team performance and user engagement. When staff members are rewarded for devoting their own time to training, they feel valued and satisfied with their positions. Training incentives also encourage team members to spend more time learning about a company’s products. Higher engagement and improved product knowledge directly correlate with increased sales and greater profits.
The implementation of training incentives through an LMS increases user participation and completion. When your sales team gains more product knowledge from course completion, they are better equipped to generate and close sales, helping to grow your company.
https://www.bluevolt.com/blog/how-training-incentives-can-make-your-business-thrive