employee rewards and recognition

Cash or kind – what works better?

Do you remember the last time when you got a Rs 5,000 cash award in your pay cheque? No? That will be the most likely answer unless you are one of those who scrutinizes the salary slip every month in the hope that there might be something extra! Well, for the most of us the cash award just disappears without a trace in the salary slip. We won’t even remember that we got something extra – even less chances of remembering how we spent it!

What if, you had got Rs 5,000 worth of products of your choice instead of the cash award  -some trendy gadget or a home appliance? You are more likely to remember about the award every time you see the product you got, right?

Well, non-monetary awards seem to have better recall value than cash awards. Apart from the fact that you might end up saving some taxes as well. Kind seems kinder than cash when it comes to rewards!

-by HiFives

Published by

HiFives Team

HiFives is a global software-as-a-service platform for employee rewards and recognition. The HiFives team partners with its clients to understand, design and deliver employee rewards and recognition program through the HiFives platform incorporating industry best practices and thought leadership.

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