Behavior Change Now - Bill Sims Company

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Oct 31
2008

Many Employers Seek to Replace Cash Bonuses With Other Work Incentives

Posted by: billsims in Secrets of Success Blog

family-incentive-tripFrom the Wall Street Journal, April 3, 200

Many employers seek to replace cash bonuses with other work incentives. Merchandise and travel awards are more memorable with employees, officials say. Diebold Inc, Canon OH, which makes automated teller machines, recently scrapped cash for sales people as lacking trophy value, says Jerry Bryan, marketing services manager. "Recipients tend to spend their cash incentives on routine expenses such as house payments or braces for their children", says the Society of Incentive and Travel Executives.

When American Express Incentive Services polled 1,101 workers, 29% said they used their cash rewards to pay bills and 18% couldn't remember what they did with the money.