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What Are The Benefits Of Non-Cash Awards?

What Are The Benefits Of Non-Cash Awards?
Very often financial awards are not the be all and end all for all employees, it’s not what makes them want to stay within a business and although some cash is a nice thing to receive it will quickly disappear and be forgotten about because, as we all know, money only goes so far and often when money goes into your bank account it will quickly be lost of household bills or food shopping, gone before you know it.
What is more memorable are things like experiences and actually ‘things’; something that creates a memory of happiness to remind you of an excellent achievement and something that symbolises the recognition for your hard work.
There may be a local restaurant in town that offers food that is out of this world, so why not get a voucher for your high achieving employee and their partner or family? Look at things that the employee really enjoys or things they really want to do, things like scuba diving, chocolate making or even a weekend away. Something that you know your employee really wants but never has the spare money to treat themselves to.
Things like red letter day experiences can be remembered for years to come, unlike some cash that is soon lost in the bank account and spent on something boring that is soon forgotten. A non-cash award is a simple way of saying thank-you to your employee for their excellent work, while giving them something they can remember for years to come and something they will talk about in the workplace with colleagues.
Partnering an experience, non-cash award with a glass award is a great way of creating memories but also giving them something ‘real’ that will help to bring back those memories of the excellent experience they have had.
You may think a red letter day experience partnered with a glass award will cost a lot of money, but when compared to the amount of money this high achieving employee has bought into your business and how much they will continue to bring into the business and they will know they are recognised for their hard work… well, you’re still making money, especially if you opt for a high quality cheap glass award!