Monetary vs. Non-Monetary Awards: Comparative Studies

Monetary vs. Non- Monetary Awards:

BIWORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States

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.

download our whitepaper

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




follow us...

Australia | Canada | China | India | Latin America | United Kingdom | United Satees

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.


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

https://www.facebook.com/biworldwide

https://twitter.com/biworldwide

http://www.linkedin.com/company/b-iworldwide-?trk=cp_followed_name_b-iworldwide

https://plus.google.com/107108980607096764075/posts


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

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

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

Business

Monetary vs. Non-Monetary Awards: Comparative Studies