| What Works Better, Cash or Non-Cash Incentives? |
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| COST EFFECTIVE? |
| A study conducted by GULF OIL a few years ago concluded that you would need up to (6) six times as much cash to do the same job as non-cash incentives when cash is the award in a safety incentive program. |
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| SUSTAINABLE? |
| A different lesson learned by GE concluded that the 'trophy value' for cash was less than 3 weeks. Ultimately cash becomes another entitlement with little, if any, connection to safe behavior. |
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| TAX-FREE? |
| Of course when you ask employees they would choose cash as the incentive (until they learn of the taxes applied). More and more, because of the tax issues, you find accounting departments coming to safety departments mandating that cash, gift cards or gift certificates not be used as the award in company safety programs. |
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| BEST PRACTICES? |
| Cash is not the award of choice when implementing a properly structured safety incentive program. You must consider what is in the best interests of the company long-term as well as what will have the most impact long-term on your people and your safety culture. |
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| Focus on long-term, sustainable results with a properly structured safety incentive program from C.A. Short. |
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| Cash cannot compete. Cash is taxable, has no 'trophy value' and is just not cost effective over the long-term. |
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| Place your emphasis (and your budget) on results! |
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| Request Your FREE Safety Book Now. |
| Learn more online now or call 1-800-818-8985 ext4409. |
