What’s Wrong With Cash and Debit Cards in Recognition?
Try asking a kid what they want for dinner. If given the choice, many children will request candy or ice cream. But is that what’s best? Probably not.
Using cash for employee recognition is the same. Workhuman® research shows employees who choose a tangible gift or experience enjoy 3x more perceived value from a reward than an equivalent cash-value experience. It’s clear that recognition shouldn't be disguised as compensation – it doesn’t have the same impact.
Over the past 25+ years, Workhuman has built the industry’s largest global rewards network. Employees in 180+ countries can redeem points for merchandise, gift cards, global charity options, and experiences.
When we consider adding new reward options to the Store, we use several criteria in our evaluation:
- Will the reward create a memorable recognition experience? Reward options in recognition programs should be aspirational and give employees a reason to brag – and not just used for groceries or gas, like with cash and debit cards.
- Will the reward create a positive redemption experience? Debit cards come with a variety of potential unwanted surprises, particularly with global programs.
- Is the reward option even desirable to your employees? Our current customers often tell us they are moving away from cash and cashlike awards that are slippery and unmemorable. It’s one of the reasons they want a strategic recognition partner in the first place!
