I have some thoughts on some employers just handing over cash for all of there incentive programs. It is often handed in an envelope or given in a paycheck but as we all know salaries and money are usually not discussed and considered social taboo’s among co workers. Meaning cash lacks the trophy value and social reinforcement which increase the perceived value of the award over cash. Also cash awards are less likely to be associated with the company that provided them. When a cash award, is provided, it becomes the employee’s, anything purchased with it is something the employee chose to purchase rather than something the firm awarded to the participant. Family friends and colleagues will also be more likely to view what the employee bought rather than something that was awarded to them. On the flip side if you hold an actual event for the accomplishment it creates a certain excitement for the work that they have put in. They are seen by there peers receiving this award making the moment memorable. This award is also something that will be displayed for years to come on a mantel bookshelf or desk as a reminder of the hard work that led to this accomplishment.
