All employees love to be rewarded for their hard work. But what’s the best way to reward those who deserve it the most?
For some employees it will always be cash. Or perhaps a promotion. For others, nothing matters more than an old-fashioned “Attaboy” from a respected boss.
And while cash may be king for some people, an article in Inc. Magazine by Adam Vaccaro explores an effective alternative reward: travel.
For instance, Vaccaro cites Texas-Based Effective Environmental:
“Every year, Effective Environmental doles out an all-inclusive family vacation to five employees. Managers in each of the company’s divisions submit nominees, and the senior leadership team chooses the winners based primarily on who is deemed to have given maximum effort day in and day out.”
Sounds great to us, but why travel over cash?
One reason could be that a travel reward is attractive to both the employee AND the company. Vaccaro cites a study that reveals, “96 percent of employees say they are motivated by travel incentives, and 72 percent who earn the reward say they feel increased loyalty to the company.”
This equals a win-win for employees and employers: employees are rewarded with all-inclusive family vacation, and employers are rewarded with the increased loyalty of the their most valued workers.
If your company offered you travel reward as an incentive, how would you feel about it? Would it motivate you?