Why Merchandise Rewards work Better than Cash
How often have you heard that “Cash is King”? Not so in the world of rewards, recognition and sales promotions.
Cash is often confused with compensation because even the program managers confuse it with compensation! When cash rewards are added to your pay check or commission check, it’s easy to confuse it with your regular salary or wage. Recipients also tend to spend it like cash: It will pay for groceries or gas and your recipient won’t even remember how they spent it.
Although many employees say they want cash rewards, studies show that they’ll work harder for merchandise or travel rewards. Read on to learn how to make the most of your promotion budget!