Employees would rather receive a free iPod or digital camera than be ‘fast-tracked’ for promotion by their boss, according to new research.
Of the 950 workers polled by professional services firm PricewaterhouseCoopers LLP, 80% said they would prefer a technology gift, compared to 67% who favoured promotion.
The survey asked individuals to rate how highly they would value a series of different rewards for good performance in the absence of a pay rise.
Cash bonuses were favoured by 90% of respondents, while 89% opted for gift vouchers in a shop of their choice, and the same amount voted for a couple of extra days annual leave.
Extra days off for charity work and a ‘no motion’ – a promotion without a pay rise – scored the lowest at 49% and 37% respectively.
More than half the respondents (62%) said they would still appreciate a work-sponsored drink or lunch with their colleagues.
Sign up to our weekly round-up of HR news and guidance
Receive the Personnel Today Direct e-newsletter every Wednesday
Jon Terry, partner and head of reward at PricewaterhouseCoopers LLP, said: “With bonus pools shrinking and many workers’ wages frozen, employers need to find lower-cost, tailored ways of showing their staff that good performance is always appreciated.
“One-off gifts in reward for particularly successful projects work very well if a pay rise is not an option, particularly if employers are flexible in terms of what they offer the recipients.”
