Holiday Cash Bonuses to Retire in 2009


    
    -- Holiday cash bonuses do not influence behavior; I Love Rewards, the
    leader in online rewards and recognition, prescribes noncash year-round
    incentives to motivate workforces in 2010, the year for Results On
    Investment(TM).




    
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<p><location>BOSTON</location>, <chron>Dec. 8</chron> /CNW/ -- I Love Rewards announced today that holiday cash bonuses are the past; incentives tied to performance are the future. Holiday cash bonuses have been tried and tested and are proven to have no result on investment.</p>
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    (Logo: http://www.newscom.com/cgi-bin/prnh/20090511/NY14212LOGO )

    
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<p>"Holiday cash bonuses are not an effective way to engage your employees because they are not perceived as a reward or effective form of recognition," said Razor Suleman, founder and CEO of I Love Rewards. "There are two reasons for this. First, every employee receives it so it's not distinguishable, and second, cash bonuses do not inspire employees to perform consistently."</p>
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<p>Proof that holiday cash bonuses do not create motivated workforces comes from a CNNmoney.com study that reports 50% of companies said they eliminated holiday cash bonuses because employees now feel entitled to holiday cash bonuses. This eliminates the ability to create employee loyalty and motivate employees for the New Year. Holiday cash bonuses do not impact behavior because they are not associated with a specific action, therefore the incentive for employees to repeat the desired behavior is non-existent.</p>
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    Three tips to provide meaningful recognition and rewards:

    
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<p>1.) Take advantage of the value of recognition. It's free and guaranteed to drive motivation and engagement.</p>
<p>2.) Recognize employees with rewards that are meaningful to them. It will go a long way to engage employees and increase their performance at work. Companies looking to drive long-term performance through incentives will find a much higher result on investment using recognition tied to rewards rather than cash. An immediate reward tied to performance and recognized publicly will satisfy a person's inherent need for recognition and in turn, drive performance for the company.</p>
<p>3.) Innovative employee recognition programs such as I Love Rewards, a points based software solution, allows employees to accumulate points based on earned recognition. They can use their points to redeem for brand-name products, which drives the type of performance today's top employers are seeking.</p>
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<p>I Love Rewards is the leading provider of web-based employee rewards and recognition, sales incentives   and service award   programs.  I Love Rewards works with top employers in <location>North America</location> to recruit, retain and inspire employees, and drive the results most important to business success.  For more information please visit <a href="http://www.iloverewards.com">www.iloverewards.com</a>.</p>
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For further information: For further information: Sarah-Beth Anders, +1-416-531-1531 x236, +1-905-252-9821 cell, sarah-beth.anders@iloverewards.com Web Site: http://www.iloverewards.com

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