by Lisa A. Grimaldi | October 16, 2013
A new study from the Incentive Federation shows 74 percent of U.S. businesses use noncash incentives. The umbrella organization founded to promote, protect and research the incentive field reports that companies spend $76.9 billion annually on incentive travel, merchandise and gift cards, with small businesses (those with annual revenues between $1 million and $10 million), making up just over half the total, spending $39 million a year. The data was collected from multiple sources, including a survey of 1,952 business executives emailed this summer. Among other findings: 98 percent of businesses running noncash incentive programs include merchandise or gift cards, spending $54.3 billion each year; 46 percent of businesses running noncash programs include incentive travel, spending $22.6 billion per year; noncash employee awards are the most prevalent, with 56 percent of U.S. businesses having programs, followed closely by corporate gift programs. The full study can be downloaded here.