Michelle Smith's professional history reads a little like a conversion story. As a harried sales executive in the 1980s with ITT Employer Services, Smith found herself running around stores, picking out awards for internal recognition programs that she planned and implemented herself. "It wasn't my day job to be setting up incentive programs," she recalls, "And personally, I hated the process of running these programs, but I loved the results." When she realized that companies existed that would do that work for her, she says, she found her mission: to make the incentive industry less of a well-kept secret.

Since then, she has placed herself at the forefront of innovation in incentives, introducing electronics and lifestyle rewards into programs as head of special markets at Macy's, working out an international fulfillment plan for Canadian retailer Hudson Bay and building Bravanta—one of the first online recognition companies. Along the way, she experienced numerous setbacks: Macy's cut back its special markets division, Hudson Bay gave up its international program and Bravanta was bought out by a large HR company. But Smith says that these events have helped her better understand the industry.

The vanguard of incentives today, she says, is using quantitative research to demonstrate how recognition can play a part in cost reduction or wellness initiatives. Spreading that message is her greatest reward: "Our industry breathes life into the slogan, 'Your people are your most important asset.'"

Reflecting on the rapid succession of changes in the industry, Smith says, "I think it's much more fun now. It was a little like the Wild West when I started…. Now we have tracking and measuring; we're mutually accountable for the results of our programs. Frankly, I think it's the most exciting time in the industry."

Fast Fact: When Smith gets to travel for pleasure, she likes to get off the beaten path: "It's so sad when people go somewhere and want it to look just like the U.S."
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