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CREATING AN

EFFECTIVE
AWARD
STRATEGY
ORGANIZATIONS
LOOKING TO
ATTRACT AND

retain top talent
can no longer rely on
simply increasing
employee compensation
and offering cash bonuses.
In fact, employers can overcome this
challenge by implementing an

EFFECTIVE

awards
STRATEGY

in their recognition programs.
BUT...
how do you determine which elements of an
awards strategy can help in increasing employee
engagement and company loyalty?

Research from The Cicero Group
commissioned by The O.C. Tanner
Institute uncovered surprising findings.
WE SHOULD START BY
ASKING THE right QUESTION.
What do
you want?

VS

What makes you feel
most appreciated?
WHEN ASKED

“what do you want”
employees always say
WHEN ASKED

“what makes you feel most appreciated?”
the answer significantly changes.
THE MAJORITY
of employees say that an
awards-based recognition
program would cause
longer lasting feelings of
appreciation than its
cash equivalent.
WHEN ENCOURAGED
TO FOCUS ON THE
APPRECIATION
EXPERIENCE,
many employees acknowledged
several limitations of cash as a
recognition item.
TOP 4 REASONS WHY PEOPLE CHOOSE AN

award-based recognition program:

1

See the item and remember
the experience

42%
TOP 4 REASONS WHY PEOPLE CHOOSE AN

award-based recognition program:

1

See the item and remember
the experience

42%

2

Cash is spent quickly
and forgotten

22%
TOP 4 REASONS WHY PEOPLE CHOOSE AN

award-based recognition program:

1

See the item and remember
the experience

42%

3 The item will be around
longer than cash

21%

2

Cash is spent quickly
and forgotten

22%
TOP 4 REASONS WHY PEOPLE CHOOSE AN

award-based recognition program:

1

See the item and remember
the experience

42%

3 The item will be around
longer than cash

21%

2

Cash is spent quickly
and forgotten

22%

4 Cash is spent on
everyday items

19%
I THINK MORE OF AN OBJECT IS
GOING TO REMIND YOU,

that’s my hard work.
That’s what I got.
YOU GET CASH AND YOU’RE JUST
GOING TO BLOW IT AWAY.

— JOHN, Focus Group Participant
THE PROBLEM WITH CASH:
1

Cash is spent on non-award
item (groceries, bills etc)

2 Cash is spent quickly and
then forgotten
3 Cash is impersonal
I’D USE IT TO PAY BILLS.

I do think a gift is better.
— GENENE, Focus Group Participant
WHEN EMPLOYEES ARE ASKED TO DESCRIBE
THE IDEAL RECOGNITION PROGRAM...

57%
21%

included a
cash reward

included an
award item
DESPITE THERE BEING STRONG
CONSUMER PREFERENCE FOR CASH,

it is unlikely to make
an employee feel
appreciated as
effectively as an
award item.
APPRECIATE GREAT WORK

Source: The Cicero Group: Optimizing Employee Recognition Programs

CONTACT US »
How to Create an Effective Award Strategy

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How to Create an Effective Award Strategy

  • 2. ORGANIZATIONS LOOKING TO ATTRACT AND retain top talent can no longer rely on simply increasing employee compensation and offering cash bonuses.
  • 3. In fact, employers can overcome this challenge by implementing an EFFECTIVE awards STRATEGY in their recognition programs.
  • 4. BUT... how do you determine which elements of an awards strategy can help in increasing employee engagement and company loyalty? Research from The Cicero Group commissioned by The O.C. Tanner Institute uncovered surprising findings.
  • 5. WE SHOULD START BY ASKING THE right QUESTION.
  • 6. What do you want? VS What makes you feel most appreciated?
  • 7. WHEN ASKED “what do you want” employees always say
  • 8. WHEN ASKED “what makes you feel most appreciated?” the answer significantly changes.
  • 9. THE MAJORITY of employees say that an awards-based recognition program would cause longer lasting feelings of appreciation than its cash equivalent.
  • 10. WHEN ENCOURAGED TO FOCUS ON THE APPRECIATION EXPERIENCE, many employees acknowledged several limitations of cash as a recognition item.
  • 11. TOP 4 REASONS WHY PEOPLE CHOOSE AN award-based recognition program: 1 See the item and remember the experience 42%
  • 12. TOP 4 REASONS WHY PEOPLE CHOOSE AN award-based recognition program: 1 See the item and remember the experience 42% 2 Cash is spent quickly and forgotten 22%
  • 13. TOP 4 REASONS WHY PEOPLE CHOOSE AN award-based recognition program: 1 See the item and remember the experience 42% 3 The item will be around longer than cash 21% 2 Cash is spent quickly and forgotten 22%
  • 14. TOP 4 REASONS WHY PEOPLE CHOOSE AN award-based recognition program: 1 See the item and remember the experience 42% 3 The item will be around longer than cash 21% 2 Cash is spent quickly and forgotten 22% 4 Cash is spent on everyday items 19%
  • 15. I THINK MORE OF AN OBJECT IS GOING TO REMIND YOU, that’s my hard work. That’s what I got. YOU GET CASH AND YOU’RE JUST GOING TO BLOW IT AWAY. — JOHN, Focus Group Participant
  • 16. THE PROBLEM WITH CASH: 1 Cash is spent on non-award item (groceries, bills etc) 2 Cash is spent quickly and then forgotten 3 Cash is impersonal
  • 17. I’D USE IT TO PAY BILLS. I do think a gift is better. — GENENE, Focus Group Participant
  • 18. WHEN EMPLOYEES ARE ASKED TO DESCRIBE THE IDEAL RECOGNITION PROGRAM... 57% 21% included a cash reward included an award item
  • 19. DESPITE THERE BEING STRONG CONSUMER PREFERENCE FOR CASH, it is unlikely to make an employee feel appreciated as effectively as an award item.
  • 20. APPRECIATE GREAT WORK Source: The Cicero Group: Optimizing Employee Recognition Programs CONTACT US »