When it comes to employee incentives, many companies believe that cash is king. Indeed, many employees we speak to say they prefer cash, reason being that cash is the most flexible gift of all.
However, we beg to differ and here’s why:
1. Firstly, it is used towards more mundane items such as paying bills or buying groceries, which do not create positive associations with your company. Neither are people likely to talk to their colleagues about it, thus eliminating the opportunity to create buzz in the workplace.
2. Secondly, if companies give cash as rewards regularly, staff will soon see it as compensation rather than a treat.
3. Most importantly, it is impossible to personalize cash and to give it as a gift defeats the purpose of giving it in the first place, which is to show appreciation.
Experiences on the other hand have more social value and hence greater potential to create buzz in the office. How does your company show its staff that it appreciates them?
Tagged: corporate gifts