Cashing Out

Why Companies are Turning to Noncash Reward Programs

| Published in September 2006
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A study by Scott Jeffrey conducted at the University of Chicago showed that while employees say they prefer cash incentives, noncash rewards yield dramatically greater performance.A Wirthlin Worldwide study showed that the majority of employees spent their incentive cash on mundane items such as bills, while only 9 percent used it on a memorable “special personal treat.”

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About the author: Edward L. Ford

Edward L. Ford, vice president of Total Recognition, has been a practitioner in the recognition industry for more than 25 years. He joined Michael C. Fina, a retailer of jewelry and other items, in January 2004. For more information, visit www.mcfawards.com or call the writer at (718) 609-8400 ext. 8517.