Employee motivation program: cash incentives

Cash incentives don't get the same results in a company reward system as other awards do. A group of 1,000 employees were asked what they used their cash award for. The answers might surprise you! Most people used the cash to pay bills, with about 18% of the group replying that they didn't even remember what they'd spent their reward money on.

Non-cash awards are more effective. They have more staying power. If you are putting together an employee motivation program you'll want to focus on online incentives like merchandise, travel, gift certificates and reward cards. Once cash is spent, there is nothing concrete to encourage. A trip with wonderful, possible life-long memories and the bragging rights that go along with it will foster loyalty and production.

There is no doubt that employee recognition programs are important and worthwhile. Who doesn't want to be recognized for their hard work and dedication? The thing is, most companies don't have a group of employees that all have the same likes and dislikes. More likely, a company has a diverse group of individuals. A group of salesmen might like a trip to a golf destination. Another group of employees may prefer a family vacation. The bottom line: most reward earners place a lot of value in being able to choose their own award.

Employee recognition programs that rate number one are individual travel plans. The next most sought after performance awards are catalog merchandise. Our merchandise catalog has over 1450 items to choose from, in price ranges from $25 to $3,000. If you have questions, just ask. We're glad to help.