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Cash & Gift Card Awards are Costly

Presenting cash or gift cards as awards to employees is costly and seldom leads to long remembered recognition.

The cost of a cash award is increased to the company presenting it because of tax and accounting costs. U.S. tax (matching FICA and UEI) and often state tax is due for the amount of the cash award.

The value of a cash award to an employee is decreased by the award recipients’ federal and state income tax liability.

One alternative, an award – personalized with the award recipient’s name and the presenting organization’s identity, has substantial lasting benefits that are not available for cash awards. Some of the benefits are:

  • No tax… employee non-cash awards under $400 are exempt (see IRS guidelines)
  • Visibility… awards displayed are a constant reminder of achievement
  • Pride… people want to be known as the best
  • Satisfaction… others see the recipient as a winner
  • Story… why and how of the award can be told (and re-told)
  • Opportunity… others can achieve the award
  • Accountability… good work is acknowledged
  • Recognition… the employer is tuned-in to the employee
Cash awards are costly because of lost, lasting recognition opportunities and the tax consequences faced by the employer and employee.

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