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Non-cash rewards help businesses grow [VIDEO]

Even in economic downtimes, companies see the value in rewarding their employees for a job well done and as a way of showing appreciation to their loyal customers.

Even in economic downtimes, companies see the value in rewarding their employees for a job well done and as a way of showing appreciation to their loyal customers.

In fact, a new Incentive Federation survey found that the incentive industry itself has remained steady – contributing more than 79 billion to the U.S. economy every year.

And the study found that 56 percent of organizations use non-cash incentives for non-sales employees. The numbers are in line with another survey by the Incentive Research Foundation.

Melissa Van Dyke, IRF president, told MeetingNet that non-cash awards continue to be an important part of many businesses' growth strategies.

According to companies that use non-cash awards, gift cards remain one of the most popular rewards.

Many companies also like the idea of giving non-cash rewards because they can be tailored to fit the winners.

Many organizations use a points-based system that allows employees to "cash" in those points for an award of their choice.
 

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