Research from TLNT shows
some interesting facts about the role of incentives, rewards and recognition in
companies today. Following are some key
points from that research:
• While 93%
of organizations are aligning their rewards programs with organizational goals,
only a third of them say performance or productivity motivation is a primary
goal.
• 71% of
organizations say the objective of their programs is to increase employee
engagement.
• 45% of companies see IRR programs as
strategic, training managers on how to use them, encouraging and monitoring
their usage.
• Non-cash
incentives are taking on an ever greater importance. In 1996 24% of
organizations reported using non-cash incentives. In 2016, 84% were.
• The effectiveness of cash-based annual
incentive plans is questionable. 42% of companies see them as effective; 36%
are undecided.
• 37% of HR
professions say that non cash incentives in the form of recognition awards,
gift cards, etc. have a greater impact on engagement, while less than a third say
that about cash.
