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.
|Number of pages||1|
|Journal||Australian Journal of Psychology|
|Publication status||Published - 2007|
|Event||Industrial and Organisational Psychology Conference (7th : 2007) & Asia Pacific Congress on Workplace and Organisational Psychology (1st : 2007) - Adelaide|
Duration: 25 Sep 2007 → 29 Sep 2007