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.png) CLICK HERE TO SEE OUR TANGIBLES VIDEO
Tangible Award Programs are Growing in Popularity Across the Country due to Their Many Advantages over Traditional Cash Award Programs. Including :
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| » Motivating Specific Behaviors/Tasks |
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| » Increased Employee Retention/Loyalty |
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| » Generating Positive Internal Communications/Buzz |
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| » Increasing Customer Satisfaction |
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Why Are Tangible Incentive Programs So Successful over their Monetary (Cash Bonus) Counterparts?
All Incentive Programs regardless of their Structure, Target Audience, or Specific Goals all have one thing in common. They are focused on generating Maximum Motivation to Ensure the desired Positive Business Result(s) is Accomplished! And Maximizing Motivation is where Tangible Incentive Programs consistently outperform Traditional Cash Bonus Award Programs!
This may be surprising to you at first as many Employee Surveys come back with "Cash Bonus" indicated as their first choice for Awards and Recognition. However, what many Managers later find out is that a "Cash Award" can actually be De-Motivating to their Team. It also offers No Lasting Benefits and can be extremely difficult to manage when Targets are not achieved at a Corporate Level. All of this at a 100% "Hit" against the Bottom-line Profits dollar for dollar of the Cash Award Payout.
Utilization - Fully one-third of Employees receiving a Cash Award will use it to Pay Bills. It becomes viewed as a part of "Salary" and the Expected Compensation for the position rather than as a Bonus which is Above and Beyond. "Salary" is not perceived as requiring Incremental Effort.
In contrast, with a Tangible Incentive Program, the Participant can select from a wide variety of Awards to be Earned. Our "Wish List" feature Reinforces the Incremental Effort required to Achieve the Awards. Anticipation increases the Satisfaction and Trophy Value of the Award!
Lasting Effects - If Cash Awards are used for Bill Paying, or other Utility Purposes, they are Generating no Lasting Memory of the Incentive, or in most cases, even the dollar amount received! How Motivating will this be in the middle of the New Year?
However, with Tangible Awards, the Award itself is an ongoing Visible Reminder of the Recognition they Achieved. They will remember How it was Presented, How Proud they Felt to be Recognized, and What they did to earn the Award! This Creates the Foundation for Future Programs to Build upon!
Peer Recognition - It is not Socially nor Corporately acceptable for Associates to disclose their Cash Awards. Therefore employing the synergy benefits of Peer Recognition and Reinforcement is not possible.
Tangible Awards, especially if given via an Awards Ceremony are Highly Visible and Recognized. Peer Recognition serves two purposes. Initially it Increases the Positive Reinforcement of the Award. Secondly, it encourages Other Participants to strive for Greater Awards in the Next Initiative. It creates Synergies through Teamwork but also through Friendly Competition!
Tangible Award Programs can also offer Significant Savings to the Organization. Prizes are Earned Based on Retail Value. Purchases are Made at Corporate Discounts.
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