Non-cash rewards and recognition

Energise ▪ Empower ▪ Engage

Article 31 Mar PictureNon-cash rewards are often used in company incentive programs as a motivational tool. A 2012 study found 67% of businesses have formal non-cash reward and recognition programs or incentive travel programs in place. Of these, almost 80% only have reward and recognition programs in place, whereas a further 20% offer both reward and recognition and travel incentive programs.

When it comes to who’s funding these programs, almost ¾ of businesses have corporate sponsorship for non-cash reward and recognition programs. Resources for these programs remain impressive, with budgets exceeding $50,000 for almost half of all those organisations surveyed. Smaller companies (those with fewer than 20 employees) all reported having less than $50,000 to spend on recognition and reward. Respondents were unified in their acknowledgement that the total spend on these programs represented only a portion of total reward and recognition outlay within the company.

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Apart from spending on rewards, a portion…

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Author: MCI India Live

MCI India is part of the MCI Group, the world’s leading provider of strategic engagement and activation solutions and a key driver of innovation in the international meetings, events, association and congress industries. With offices in Delhi, Mumbai, Hyderabad and Bengaluru, MCI India activates brands, enhances organizational performance, builds communities and drives business results through creative live experiences, digitization, content and communication services and strategic planning. Combining local knowledge with expertise from MCI’s 1,650 experts in 60 cities and 31 countries, MCI India helps local, regional and global companies and associations to unlock their potential and deliver real change. Find out more at www.mci-group.com.

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