Is money the best incentive?

Given the choice, most people would probably choose money as an incentive reward, and you can understand why. But is this the best option?

Given the choice, most people would probably choose money as an incentive reward, and you can understand why. But is this the best option?

In our experience, cash has masses of appeal and should not be ignored as a motivator, but can sometimes just go towards paying bills and day-to-day expenses. Offering a travel incentive or gift can offer something rather more memorable.

“Travel is still King.”
Graham James, Director, AYMTM

Incentive travel, especially aspirational, money-can’t-buy trips, still have the strongest impact. These once-in-a-lifetime, all expenses paid experiences hold enormous personal value as they offer the winner an unforgettable memory. What value do you place on that?

However, these types of trips do require a healthy budget. As a cheaper alternative, travel and experience vouchers  can offer memorable moments on a lower budget.

“Physical products have a ‘trophy value.’”

It is all too easy to get swept up with events but don’t forget about the lure of physical gifts. They have added trophy value, especially when they are desirable. It is a genuine treat, something that you can show off in the office, and something that you may have wanted but couldn’t afford. Think about what’s on your Amazon Wishlist. What things would you like but can’t quite justify buying just yet? Those items work exceptionally well.

“Don’t forget to say thank you. Simple recognition goes a long way.”
James Cochrane, Account Director, AYMTM

Simple team treats and manager recognition are easy to do, cost effective and are usually highly regarded as well as being much underrated. Research continues to show that happy, appreciated people produce more and better results.

With all of this in mind, here are our top 5 recommendations when choosing a reward for your next incentive…

  1. Travel – This is, and probably always will be, the most popular incentive reward.
  2. Gadgets and electronics – Who doesn’t like a new toy to play with?
  3. Experience days – Something they won’t forget in a hurry.
  4. Travel vouchers – A flexible reward providing control over when, where and with whom they travel.
  5. Recognition – A simple thank you costs you nothing, but if you can’t be there in person, consider a sweet treat to bring your recognition to life.

Over the years, our team has put together a huge range of these incentives. Our carefully selected rewards have proven results in influencing sales, changing behaviour and recognising performance .

Drop us a line if you’d like us to bespoke a campaign for your company.

 

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Is money the best incentive?
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Given the choice, most people would probably choose money as an incentive reward, and you can understand why. But is this the best option? Our top 5 recommendations when choosing a reward for your next incentive...