It is no secret that employees want some type of recognition to stay motivated for their hard work and company contributions. According to this Harvard Business Review article, 82% of Americans don’t feel that their supervisors recognize them enough for their contributions. The article went on to say that “40% of employed Americans say they would put more energy into their work if they were recognized more often.” So, how do you effectively motivate and recognize employees in 2019?
One of the easiest and most utilized ways companies reward employees is cash bonuses. It’s straightforward, doesn’t require much effort, and who doesn’t want a little extra added to their paycheck?
But as it turns out, cash isn’t always king.
The Incentive Research Foundation found that non-cash rewards, like travel, are proven to be 2-3x more effective than cash. Employees are more motivated by culture, relationships, trust and purpose versus the pursuit of money, power and prestige.
One executive from InfoTrust explained, “We believe in the power of gifting an experience. Money will be spent, but the experience will stay with them forever.”
Beyond motivating employees to achieve goals, experiences also create and strengthen bonds between the entire team. The time spent together out of the office in a social setting builds relationships that can then boost “their intrinsic motivation to perform the work.” They will be more likely to go above and beyond for the company like they would for a friend.
The Forbes Agency Council, an expert panel of successful PR, media strategy and advertising executives, believes that many professionals will need to think outside of the box to achieve their recognition goals in 2019. But the heavy lifting doesn’t have to fall on the company itself. By partnering with an incentive travel planning firm, like Brownell, the organization can rely on an experienced partner to collaborate, develop, and execute a successful incentive trip.
As you start a new year, consider using travel to motivate and recognize employees within your company. Contact us for more information or to start planning your incentive trip.