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How Experiences Can Impact Employee Engagement with Jon Irvine, BlueBoard

HRchat Podcast

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The Importance of Transactional Rewards

With cash, the challenge is justifiability. If I give you $5,000 and say do something special, you can't justify spending all of that on a wonderful reward for myself. With gift cards, we're monetizing it. And it's an inherently unemotional thing. Unless you give somebody a life-changing amount of money, it's not emotional. It's a transaction. Recognition should never ever be a transaction. Cash is never a hug. The one time a company gets to genuinely give its employee a hug.

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