The Incentive Research Foundation is literally putting its future in the hands of the industry. During the organization's 26th Annual Education Invitational, which took place June 19-23 in Miami, the IRF crowdsourced input from the more than 500 attendees during sessions and in informal discussions to help formulate Vision 2025, a strategic plan for the next five years, Industry professionals shared their thoughts on the following questions: Where does the industry need to go next, what differentiates IRF from other industry organizations and what can the IRF do better? The IRF will continue to collect insights from the broader incentives community as it crafts the formal plan.
Another goal for the organization is to reach incentive practitioners outside the industry bubble. "While 84 percent of U.S. firms use incentives, less than 30 percent know about the IRF or the incentive industry," said IRF president Melissa Van Dyke.
The new strategic plan will replace Vision 2020, the IRF's previous strategic plan, which positioned the foundation to lead the global incentive and recognition industry with research and education. In the four years of Vision 2020, the IRF increased its collaboration with industry associations (including SITE and FICP) for the landmark Incentive Travel Industry Index in 2018 and 2019, and established alliances with universities.
Findings and analysis of the IRF's latest studies and reports were shared during the conference. Among them were how top-performing financial services and tech firms use incentives to their competitive advantage; a report on the auto industry, the third in the 10-part series on top-performing firms, will be released this summer.