Monetary vs. Non-Monetary Awards: Comparative Studies

Monetary vs. Non- Monetary Awards:

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Comparative Studies

http://www.biworldwide.com/en?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy


many factors influence performance


Perceived value of the reward – relative to the perceived effort to attain it.


http://www.biworldwide.com/en/sales-channel-effectiveness/sales-recognition-rewards1?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy



Knowledge and Skills of those participating



How well the rules and standings are communicated.


http://www.biworldwide.com/en/employee-engagement/new-rules-of-employee-engagement?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy

Overall alignment of the program design to the desired business outcomes.



Nothing is as important as



Nothing is as important as


the choice to offer non-monetary awards.



In other words –



In other words –

the rewards you include in your program directly impact your results.



Non-Monetary Reward Results:

32% sales increase

Tire Manufacturer Dealer Reps

for example:


http://www.biworldwide.com/en/industries/manufacturing?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy


32% sales increase

Monetary Reward Results:

22% sales increase

Tire Manufacturer Dealer Reps

for example:


http://www.biworldwide.com/en/industries/manufacturing?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy



18.2% over objectives

Automotive Dealer Sales Managers

another example:


http://www.biworldwide.com/en/industries/automotive?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy







Automotive Dealer Sales Managers

another example:


http://www.biworldwide.com/en/industries/automotive?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy


and finally:


$66,540 total revenue per rep

Window Manufacturer Dealer Reps

and finally:






Window Manufacturer Dealer Reps

and finally:




“Monetary vs. Non-Monetary Awards: Comparative Studies” Review the full research that demonstrates how non-monetary rewards are stronger motivators and drive greater results.

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See the complete study...


http://www.biworldwide.com/en/white-papers/employee-engagement/monetary-vs-non-monetary-awards-comparative-studies?utm_source=SlideShare&utm_medium=Slide&utm_campaign=Non-MonetaryStudy




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Monetary vs. Non-Monetary Awards: Comparative Studies

Business

nonmonetary reward results

rep monetary reward

nonmonetary awards

monetary rewards

greater results

reward relative

total revenue

program design