Baby Boomers are leading a new trend — lifestyle incentives — by choosing rewards such as cosmetic surgery, family/adventure travel, and home improvement items over cold, hard cash. A recent survey of 731 top sales employees conducted by Anderson Performance Improvement Co., Hastings, Minn., found winners redeeming their award points for the former as well as electronics, clothes, and jewelry.
The reason for this upswing in lifestyle incentives is simple: lack of time. Aging boomers are faced with increasing demands on their time, and have been forced to put aside activities that used to be important to them, such as home improvement. So they are choosing incentive rewards including new appliances; landscaping; swimming pools; exterior house painting; and new carpeting, decks, flooring, and windows for their homes.
These seasoned professionals are not motivated by cash rewards because they feel compelled to use the money to pay off bills or put it toward college tuition. They prefer “feel-good” items such as electronics, clothing, and jewelry.
Source: Corporate Meetings & Incentives, July 1, 2005