A study by The Society of Incentive & Travel Executives
(SITE) Foundation confirms the impact of incentive programs offering tangible
rewards. In addition to increasing work performance an average 22%, such
programs also help create positive emotion in the workplace, which greatly
influences commitment to a work task, according to Mike Hadlow, president of
SITE Foundation. “Incentive programs may be the single most important
performance improvement tool available to executives today,” he says.
Payback You Can
Measure
- Non-cash rewards achieve three times the return on investment when compared with cash-based programs, according to a study by World at Work (formerly the American Compensation Association).
- While both types of programs will boost performance, the “extra” increases you get with non-cash rewards can turn a good return on investment into an exceptional return.
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