Rewarding people can take on a MONETARY REWARDS MONETARY-BASED EXPERIENCES variety of forms – it could be as simple One of the most common ways to recognize Instead of handing money or gift cards to people is with some form of monetary reward, your people, why not offer them a choice of as a high-昀椀ve for a job well done like a cash bonus or gift card. It’s fast and experiences, such as dinner at their favorite during a meeting, or as extravagant straightforward, and since it’s actual money, it’s restaurant, a trip to wine country, a spa treatment, as a vacation voucher to their favorite easy to keep track of in the budget. or tickets to their favorite concert or sporting destination! Here are some examples The problem with this kind of reward is that it event? of recognition and rewards to consider. can feel impersonal and people may assign the Designing an experience for individual people value of themselves or their work to the actual guarantees that the reward becomes something dollar amount given. For example, a person who special, not just extra money for groceries. When a receives a $20 gift card may see that as that being recognized person enjoys their experience, they’ll the value of their contribution, versus the budget connect positive feelings with your company, who that HR and people teams have to work with. more thoughtfully considered what they love as an Monetary rewards of this nature feel inauthentic individual. and are less attractive to younger generations who seek a positive environment to work; and experiential rewards for their contributions.