A common topic in our industry centers around the benefits of differing reward types and their effectiveness to motivate when used in incentive and recognition programs. With much discussion and debate, many have offered theories and best practice formulas to substantiate their positions. Today we are fortunate to have more resources than ever which focus on this topic.
The Incentive Research Foundation (IRF) is a private not-for-profit foundation that funds research studies and develops education serving all segments of the global incentive and recognition industry. The research and studies published by the IRF focuses on incentive, recognition, and motivation in the workplace, specifically relating to engagement and the use of award types in the industry.
As part of the IRF education initiative, the Spring, 2019 issue of The IRF Quarterly Academic Review is now available. From Allan Schweyer, Editor:
“Interest in the use of rewards and incentives has expanded; academic study in our field has grown tremendously in recent years, which, in itself is an endorsement of the key role incentives and rewards continue to play in business – motivating employees and other stakeholders to greater engagement, higher productivity and better outcomes.”
The current issue studies cash vs. non-cash incentives to measure the benefits of hedonic versus utilitarian rewards; reward framing; the role of extrinsic rewards in driving intrinsic motivation; the conditions in which incentives encourage creativity and the effect of goal/reward choice and achievability on sales performance.
The increase in academic research has brought an increase in studying the role and impact of incentives and rewards relating to the intangible characteristics of organizations. Schweyer lists some of these variables as the strength of internal and external relationships, inclusion, trust, development, autonomy, and meaning. He goes on to say research continues to show that incentives, rewards, and recognition plays a pivotal role in generating and sustaining these characteristics – those that create a “21st century talent culture,” and which generate sustainable competitive advantage.
Download the academic review here. I found this issue to be especially interesting!
Contact Us