Maritz hopes that cash and non-cash rewards can get along. The incentive giant has partnered with sales performance software company Synygy to offer a program to clients combining both cash and non-cash sales compensation.
This new system will organize a sales team’s total earnings, bonuses and rewards earned from various incentive programs, with the aim of allowing them to more easily track employee sales patterns and results. By combining the rewards and recognition programs of Maritz with the software and operational processes of Synygy, the partners aim to create better communication on performance improvement.
"It will be an advantage in having better alignment between cash compensation and the non-cash program, each have roles and are better at doing different things and driving performance. Synygy has wonderful technology and Maritz the best reward selection or non-cash." said Paula Godar, director of brand strategy for Maritz. "Many companies have completely different systems, but we'll be looking at where it really makes sense to bring to the two together."
Godar noted that there will be mutual training sessions to educate employees on both sides about how the two companies can work together. Though Maritz has been working with Synygy for about seven years, this announcement makes the partnership official.
"This agreement is more of a formalizing of that arrangement, so now we can look for more opportunities that will benefit the client," said Godar.
— Nielsen Business Media