Companies looking to reward and motivate their employees with incentive awards need to focus on the total reward experience—which frequently doesn’t involve cash, according to a new study commissioned by the Incentive Marketing Association (IMA).
 |
“The Participant Study,” which was conducted by the Incentive Research Federation (IRF) through Intellective Group for IMA, surveyed 452 people about more than 80 noncash award types to determine their preferred kinds of travel, merchandise, gift card incentives, and perks. The data collected revealed each participant’s most and least desired total reward experience.
The study found that the total award experience matters: Between 40% and 70% of a participant’s preferred award experience was determined by nonaward presentation factors, such as who gives the award, how it’s communicated, and what professional impact it carries.