Tapping Into Our Desire to Acquire

November 21, 2016
| ByMike Ryan

Thanksgiving is upon us. It’s a time to reflect and give thanks for all that’s good in our lives.

Oddly enough, it’s also become a time to acquire all of the goods we want in or lives.

You can’t open a newspaper, watch TV, or tune in the radio without getting bombarded with Black Friday ads. It seems like stores are practically giving the stuff away. And of course, one day isn’t enough for most retailers. Many are opening on Thanksgiving night and extending their hours right through the weekend.

What does the appeal of a full- out merchandise grab say about people? I think we are still a thankful society. I don’t think the Holiday has lost its meaning. But we do like to acquire stuff and we don’t like to pay for things.

That’s why non-cash rewards are so appealing. It taps into our consumer side. It triggers our desire to acquire, while eliminating the financial hurdles that go along with it. Studies have shown that when you present people with two options they usually pick the item not the cash.

People see non-cash rewards as the ultimate bargain. And as a motivator that works. It’s why best-in-class companies are more than twice as likely to use them and its why companies of all sizes have reported double digit increases in their utilization over the last two years.

As an HR or sales planning professional looking to motivate and engage employees you now have one other thing to be thankful for. Non-cash rewards will help you accomplish your objectives without having to overspend on cash bonuses.

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