BI WORLDWIDE's experience has shown us that non-cash rewards are actually more effective motivators than cash. Our corporate clients remained skeptical. So they conducted their own studies. We have benefitted from their skepticism, because those studies have added to a body of data that cuts across industries. This data reinforces our original conclusion: non-cash rewards are more effective motivators. Further, some of the country’s most respected academic institutions have conducted studies which further strengthen the case for the cost-effectiveness of non-cash rewards. Obviously, many factors influence performance: the perceived value of the reward relative to the perceived effort to attain it, knowledge and skills of those participating, how well the rules and standings are communicated, and the overall alignment of the design to the desired business outcomes. But nothing is as important as the choice to offer non-monetary awards. In other words, the rewards — which may be issued in points — must never have explicit dollar values (hence the term “non-monetary”) connected with them. Many doubt that a non-monetary reward – a reward that does not have an explicit dollar value – can drive more performance than a monetary reward, such as money, gift cards, or debit cards. Research demonstrates that non-monetary rewards are stronger motivators and drive greater results. http://www.biworldwide.com/white-papers/employee-engagement/monetary-vs-non-monetary-awards-comparative-studies http://www.biworldwide.com/

1. Monetary
vs.
Non-
Monetary
Awards:
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
Comparative
Studies

2. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
many factors
influence performance

3. Perceived value
of the reward –
relative to the
perceived effort to attain it.
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States

4. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
Knowledge and Skills
of those participating

5. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
How well the rules
and standings
are communicated.

6. Overall alignment
of the program design
to the desired business outcomes.
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States

7. Nothing is
as important as
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States

8. Nothing is
as important as
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the choice to
offer non-monetary awards.

9. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
In other words –

10. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
In other words –
the rewards
you include in your program
directly impact your results.

11. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
Non-Monetary
Reward Results:
32%sales increase
Tire Manufacturer Dealer Reps
for example:

12. Non-Monetary
Reward Results:
32%sales increase
Monetary
Reward Results:
22%sales increase
Tire Manufacturer Dealer Reps
for example:
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13. Non-Monetary
Reward Results:
18.2%over objectives
Automotive Dealer Sales Managers
another example:
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14. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
Non-Monetary
Reward Results:
18.2%over objectives
Monetary
Reward Results:
9.5%over objectives
Automotive Dealer Sales Managers
another example:

15. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
and finally:
Non-Monetary
Reward Results:
$66,540total revenue per rep
Window Manufacturer Dealer Reps
and finally:

16. Non-Monetary
Reward Results:
$66,540total revenue per rep
Monetary
Reward Results:
$51,560total revenue per rep
Window Manufacturer Dealer Reps
and finally:
BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States

17. BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
“Monetary vs.
Non-MonetaryAwards:
Comparative Studies”
Review the full research
that demonstrates how
non-monetary rewards are
stronger motivators and
drive greater results.
download our whitepaper
See the complete study...

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BI WORLDWIDE uses the principles of behavioral economics to produce
measurable results for our clients by driving and sustaining engagement
with their employees, channel partners and customers.