Experiences, Not Money or Merchandise, are the Key
A new study from the San Francisco State University reaffirms that experiences such as travel rewards have a greater impact than cash or merchandise rewards in keeping employees happy and motivated.
People still believe that more money will make them happy, even though 35 years of research has suggested the opposite.
Cash awards quickly lose their luster, as winners use them to pay off bills and credit cards, and then are quickly forgotten. Experiences such as travel, on the other hand, give winners lasting positive memories that they associate with hard work, loyalty to their employer, and the high value of the experiences.