Planners must constantly introduce new products into tiered merchandise incentives so participants don't get bored. Product delivery is another hassle. The longer it takes for participants to receive their award, the lower the item's trophy value. You want your people to remember the thrill of receiving the award, not the hassle getting it. Simply put, cash is an effective reward because everybody wants it.
Money provides an immediate thrill and feeling of appreciation for hard work.
While Hafer enjoyed the merchandise he earned with a previous employer, he likes even more the cash awards available at Bowne. But tell that to the bank. There are no hidden costs that pop up during the program and little to no paperwork or planning is required. I use merchandise awards for my two-month program, but the award for my bigger incentives is cash. The fact is, I'm getting better results using cash, and it's so much simpler.