Reward Preferences: Making a Lasting Impact on Incentive Program Participants

During tough times like these, it’s more crucial than ever for employees to feel recognized and valued for their contributions. With so many ways to say thank you, managers and executives at organizations might find it difficult to select the method that goes above and beyond. The IRF has released a new report that examines both ongoing rewards & recognition and annual awards to help identify participant preferences.

Preferred rewards vary on several factors such as generational differences and gender. While older groups might prefer paid days off to spend with family, younger workers would favor being rewarded with developmental opportunities. In terms of gender, males prefer developmental opportunities and the ability to mentor, while females have a preference for gift cards and flexible scheduling. Recognizing these differences in reward preferences can help an organization increase employee engagement and improve overall employee satisfaction.

Read the full report here.