BizSugar.com › Human Resources › Preference reversals…The data behind cash vs non-cash rewards…

Ask your employees, your sales force,your channel partners, or your consumers how they would like to be rewarded. The vast majority of them will tell you, "more money". But when you structure a reward system that pays on performance lift, there is one consistency: Programs that use cash or debit cards or gift cards UNDER-PERFORM other programs that use luxurious, high-end tangible awards.
There are many reasons why this is the case. This article reviews a series of experiments by a noted researcher and shares some important insight into the world of effective rewards and recognition.