Mobility - July 2020 - 51

to us and are inherently associated with the person
who surprised us with them.
5. Often, what really makes us happy when receiving
a gift is that we would not have spent money to
purchase it ourselves.
"If there's one thing to remember here," the article
goes on to say, "it's that employees tend to value real
and tangible rewards as part of your company recognition efforts much more than the cash equivalent.
Making room for recognition and gratitude at work is
super important to obtaining success as a business in
today's competitive work environment."
BUT DOES NONCASH HAVE
A DOWNSIDE?
In spite of the positive results that will hopefully
emerge from implementing creative ideas, some
argue against using noncash compensation without
careful consideration. In an article on its website, "The
Pros and Cons of Monetary Versus Nonmonetary
Incentives for Employees," Inproma-an employee
engagement and rewards solutions company-cites
the advantages and disadvantages of both options.
The company goes on to explain what it considers
to be the highest return on investment: a really fantastic employee rewards program. "Good employee
rewards programs motivate employees with namebrand products they love. Think Apple, Bose, Nike,
and Fossil-names that mean much more than an
outdated points system. ... Whether your program
includes custom uniforms or valuable gifts employees can use and display in the office, custom rewards
programs spread like wildfire through the office.
Everyone wants to get involved and achieve the
rewards they see their colleagues earning."
But there are other perspectives to consider,
according to Karrie Lucero in a 27 March 2019 blog on
xactlycorp.com. In "How to Use Noncash Rewards to
Motivate Employees," she writes, "The most effective
incentives motivate specific behaviors that will help
companies achieve their goals. ... When introduced
to potential rewards, workers find it motivating to
envision themselves obtaining said perks; for example, seeing themselves relaxing on a Hawaiian beach
or cheering their heads off in the middle of the action
at a high-profile sporting event. With cash, it's hard to

dream up such enjoyment, leaving many to just think
about using extra funds to pay off a credit card bill or
pad their savings."
On the other hand, Lucero explains, "Noncash
incentives can also result in the building of tradition, while building a dynamic company culture.
If that noncash prize becomes something like an
annual ski trip that everyone looks forward to,
you now have a noncash reward that has become
a focal point for the organization's employees to
rally around. Lastly, another benefit of noncash
rewards is the fact that they must be consumed,
often in some form of a memorable experience.
Thus, employees earn their reward, experience it,
and then return to work refreshed and rejuvenated
to tackle the next challenge."
THE BOTTOM LINE: DO THE HOMEWORK
Times-and people-have changed dramatically. While competitive salary and recognition
bonuses are essential as a foundation for engaging
employees, noncash rewards continue to gain in
popularity. Alternative options can transform the
incentive into a personal reward, recognizing the
individual's contribution and demonstrating the
employer's gratitude.
As with any policy, HR should research the options,
determine the most suitable ones, understand the
rationale for implementing them, consider the ramifications, communicate the programs, and implement them
effectively. But remember: Just as one should not simply
throw money at employees, one should not throw
meaningless perks their way, either. M
Virginia McMorrow is a freelance writer and editor with
many years of experience in the global talent mobility, HR,
consulting, and publishing fields. She can be reached at
mobility@worldwideerc.org.
Keep the conversations going on this and
other topics by participating in our online
Community. Sign in at worldwideerc.org/
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Mobility - July 2020

Table of Contents for the Digital Edition of Mobility - July 2020

Mobility - July 2020 - Cover1
Mobility - July 2020 - Cover2
Mobility - July 2020 - 1
Mobility - July 2020 - 2
Mobility - July 2020 - 3
Mobility - July 2020 - 4
Mobility - July 2020 - 5
Mobility - July 2020 - 6
Mobility - July 2020 - 7
Mobility - July 2020 - 8
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Mobility - July 2020 - 49
Mobility - July 2020 - 50
Mobility - July 2020 - 51
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Mobility - July 2020 - 61
Mobility - July 2020 - 62
Mobility - July 2020 - Cover3
Mobility - July 2020 - Cover4
https://www.nxtbook.com/ygsreprints/WERC/mobility_092020
https://www.nxtbook.com/ygsreprints/WERC/mobility_082020
https://www.nxtbook.com/ygsreprints/WERC/mobility_072020
https://www.nxtbook.com/ygsreprints/WERC/mobility_062020
https://www.nxtbook.com/ygsreprints/WERC/mobility_052020
https://www.nxtbook.com/ygsreprints/WERC/mobility_042020
https://www.nxtbook.com/ygsreprints/WERC/mobility_032020
https://www.nxtbook.com/ygsreprints/WERC/mobility_022020
https://www.nxtbook.com/ygsreprints/WERC/mobility_012020
https://www.nxtbook.com/ygsreprints/WERC/mobility_122019
https://www.nxtbook.com/ygsreprints/WERC/mobility_112019
https://www.nxtbook.com/ygsreprints/WERC/mobility_102019
https://www.nxtbook.com/ygsreprints/WERC/mobility_092019
https://www.nxtbook.com/ygsreprints/WERC/mobility_082019
https://www.nxtbook.com/ygsreprints/WERC/mobility_072019
https://www.nxtbook.com/ygsreprints/WERC/mobility_062019
https://www.nxtbook.com/ygsreprints/WERC/mobility_052019
https://www.nxtbook.com/ygsreprints/WERC/mobility_042019
https://www.nxtbook.com/ygsreprints/WERC/mobility_032019
https://www.nxtbook.com/ygsreprints/WERC/mobility_022019
https://www.nxtbook.com/ygsreprints/WERC/mobility_012019
https://www.nxtbookmedia.com