Wellness Program Incentives
When it comes to incentivizing Corporate Wellness programs, cash has repeatedly proven itself to not be very effective to increase employee participation. The Power of Tangible, Non-Cash Awards Although most often requested, cash has been shown to be the least appreciated type of incentive. Some of the drawbacks of cash are intuitive, while others are not. If you think about the last time you were given $50, versus the last time you won a tangible award of roughly the same value, do you remember where the $50 went?
The term used to describe the power of tangible incentives is "trophy value." That is, earning non-cash incentive tends to carry more value than receiving the market value of the item in cash. For example, winning an iPod serves as a visible, constant reminder of a participant's accomplishment every time the device is used. The value of an iPod in cash soon evaporates and is long forgotten.
** Once the client sets the budget, we take care of the administration and award fulfillment.