Choice is a powerful word. Every day we make dozens, if not hundreds of choices. What drives us to make these choices?
Dr. William Glasser popularized the Study of Choice Theory, which is an explanation of human behavior in an attempt to meet one or more of the five basic human needs. Abraham Maslow is a pioneer in the field of human needs and has created a simple pyramid to describe them. The hierarchy of needs is a roadmap of the requirements of all human beings, beginning with the most basic needs of food and sleep, and moving up to the advanced self-actualized needs that involve the desire to grow as a person and fulfill one’s own potential.
Firms today are constantly faced with tough choices to compete in a crowded marketplace. While great products, wide selections, superior customer service, or low prices may act as the fuel that keeps a company moving forward, employees are the drivers that are as indispensable to an organization as a skilled driver is to auto racing.
Motivating and rewarding employees is crucial for managers to retain their most valuable assets. Choosing the right incentive rewards, however, can often be a challenging task, as cash bonuses are a quick and easy solution, but rate low in results delivered.
Making the choice to provide employees with non-cash incentives, such as travel programs and reward cards fulfills the highest region of Maslow’s Hierarchy of Needs. Non-cash incentives satisfy the creative and spontaneous needs of employees that ordinary cash bonuses do not. Using these incentive rewards will result in higher employee motivation, which is a priceless asset for any business.
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