Travel VS cash incentives
Sales incentive programs target at an individual’s psychic income needs (their desire to grow as individuals, as well as their self-esteem). Cash, not surprisingly, directly fills monetary needs. Therefore you should select rewards unique and relevant to the participant, so they gain tangible evidence of their achievement and fulfill their need for acceptance, recognition and personal esteem.
Each type of incentive triggers different feelings and reactions, and each type of reward has distinct strengths and weakness which have to be considered when designing incentive programs, because the type of rewards you include in your program will directly impact the results.
Trophy style rewards stand out in the memory of the participants on an incentive program, both while they are working to achieve the incentive program’s goals, and long after they win. Trophy value works because it triggers recall. Travel sets high expectations, and frequently enrolls spouses or others into the motivational process. The more people think about the awards, the better they work.
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