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We Want Cash!
When asked what type of award
they prefer, most employees will say they
prefer cash. However, studies show that
people work harder for more tangible
rewards. Do we really not know what we
want, or are there other factors involved?
Scott Jeffrey, PhD, conducted a
study at the University of Chicago to
SALES
GROW
DECEMBER 2015 •
PPB
• 43
F YOU HAD A NICKEL FOR EVERY TIME
your
client told you that cash was king you’d be a million-
aire. This is a long-standing belief in the business
world regarding the strength of cash as a motivator—but it’s
not true. Studies show that employees perform at a higher
level for non-cash awards, that tangible rewards are a better
value overall for the sponsoring company and that non-cash
awards presented in a personal and public way are more mem-
orable and have a longer-term impact on the recipient.
I
WHY NON-CASH INCENTIVES PRODUCE MORE FEEL-GOOD RESULTS
BY BARB HENDRICKSON
CASH IS KING (OR IS IT?)