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True rewards When it comes to honoring good customers, top employees, Rymax has the goods

Paul Gordon is a senior vice president of sales at Pine Brook-based Rymax Marketing Serivces.

You can forget about the days when annual reviews and salary increases were enough to keep employees on board.
And before you go offering a Cadillac or a set of steak knives (a la “Glengarry Glenn Ross”), know that it’s going to take more than that to motivate today’s teams.

“People want choice,” said Paul Gordon, senior vice president of sales at Rymax Marketing Services in Pine Brook.

“If your employee is driving to do something on behalf of the company, you’ll get far greater results by offering a variety of items with the same price value than you would by making an incentive a specific item.”

Gordon knows that employees today require more diverse incentives for their varying desires and needs.

And Rymax Marketing Services knows exactly how to deliver.

Founded in 1995 by President Marc Farbstein, the billion-dollar loyalty marketing provider creates and manages structured rewards programs to increase consumer and employee retention, recognition and engagement via targeted incentives.

With an average of 300 employees over the course of a year, Rymax caters to Fortune 500 companies in every business segment by creating rewards programs around more than 300 brands and 10,000 diverse products, including Apple, Versace, Black & Decker and more.

For instance, it was one of the original creators of the American Express credit card rewards program, in which consumers spend and redeem points for products or services.

And, it has a longstanding relationship with United Airlines after creating its exclusive Mileage Plus program.

But Rymax, on average, also has helped organizations increase their employee retention rate as much as 30 percent by tying business objectives into a fun and social challenge: See how many points you can earn from the boss.

“There’s a very high retention rate for people enrolled in loyalty reward programs at work because they have a stake in it,” Gordon said. “They’ve accumulated points, so they’re not so quick to leave when they’re close to getting what they want.”

Meg Fry

NJBIZ Business Events