Motivating potential of experiential rewards and individual differences in reward preferences

L. S. Krause

    Research output: Contribution to journalMeeting abstract

    Abstract

    Despite experiential rewards such as holidays and balloon rides being offered by several companies as incentives. No research has been conducted on the effectiveness of these types of rewards for motivating employees. There is a heavy reliance on case studies and personal testimonials to prove the value of experiential rewards. The aim of the project was to examine the motivating power of an experiential (Jet Boat ride on Sydney Harbour) and a cash ($50) reward when compared with a control in a laboratory setting. Despite the results for the experiential reward not reaching significance, it was evident that the experiential reward was extremely motivating for ‘some’ individuals. Further studies examining individual differences in reward preferences were conducted and a scale of experientialism developed. It appears that individuals may differ on the degree to which they value ‘doing’ things. Preliminary findings suggest experientialism is predictive of life satisfaction. This study has implications for the design of incentive programs and consumer preferences.
    Original languageEnglish
    Pages (from-to)107
    Number of pages1
    JournalAustralian Journal of Psychology
    Volume59
    Issue numberSuppl.
    Publication statusPublished - 2007
    EventIndustrial and Organisational Psychology Conference (7th : 2007) & Asia Pacific Congress on Workplace and Organisational Psychology (1st : 2007) - Adelaide
    Duration: 25 Sep 200729 Sep 2007

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