“The will to win, the desire to succeed, the urge to reach your full potential… these are the keys that will unlock the door to personal excellence.”
– Confucius (551 BC – 479 BC)
Recognition is one of the key elements in an effective employee engagement strategy. Appreciation for exemplary efforts results in happier employees, translating directly into enhanced work performance and increased loyalty.
A major component of an employee recognition program is the rewards, which take the form of compensation, merchandise or incentive travel programs.
Studies have indicated that experiences produce longer lasting satisfaction and greater future performance than cash incentives. The motivating value of cash is fleeting. Often viewed as part of the remuneration package by employees, cash results in little increased motivation and often disappears on practical day-to-day items, with no ‘trophy’ value.
Incentive travel garners the greatest impact on employee engagement, resulting in strong emotional responses, translating into inspiring memories that stand the test of time. This lasting positive impression translates into enduring positive behaviors, enhancing your bottom line while retaining valuable employees and fostering a happy workplace.