Non-Cash Awards WORK!
Plain and simple – non-cash incentives are good for business. A properly designed incentive program can impact a company’s bottom line in many positive ways.
Research shows that the effectiveness of non-cash awards is three times greater than cash-based award programs. According to the Incentive Research Foundation, in a cash-based program a company must spend 12 cents to achieve one dollar in incremental profit (revenue generated by the incentive program—increased purchases, cost savings, increased sales).
In a program using non-cash awards, the investment is 4 cents for every one dollar of incremental profit.
In today’s difficult economy, companies are seeking ways to save where they can and to maximize the results from every dollar they do spend. Incentive programs can benefit a company from many perspectives with different initiatives targeted to its employees. While an investment in these programs is required, the results and benefits will outweigh the costs and benefit the bottom line.
Award Concepts can help your company or organization with its non-cash incentives employee recognition program. Call me at 678-231-3615 or contact me through this website. It all begins with a conversation!
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