From Employee Incentive Trips to Gift Cards: Non-Cash Rewards Have a Catch

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What Are Non-Cash Rewards?

Rewards for employees exist in all forms. Whether it’s a gift card, tickets to a concert, or a corporate incentive trip, these non-cash items are alternative ways of rewarding employees for achieving a certain goal. Non-cash rewards are not always free, but can allow the company to make better use of its money. Additionally, non-cash rewards can be exciting for employees, increasing the incentive for a job well done.

Offering rewards for small accomplishments can help keep up moral in an office. Using small goals, such as an entering in a gift card drawing for “highest weekly sales,” will give a better sense of achievability for employees.

Companies have also recently started implementing more health-focused programs in the workplace. Such competitions can simultaneously keep employees motivated, while improving their health and productivity at work. Non-cash rewards can include relevant items like a FitBit and a juicer, or even something as simple as a set of weights.

A corporate employee awards dinner turned into an extreme entertainment evening with skateboarders, BMX bikers and Dancing Waters as a backdrop.

Live performance at a corporate incentive trip in Orlando, Florida.

The Bigger the Better

Small rewards pave the way for employees gearing up to reach annual goals. Employee appreciation events and incentive trips can give employees something worthwhile to work for, motivating hard work all year long. That being said, the event must be worth it. The events should be planned with the employee in mind, and they shouldn’t be an after thought. Invest in your employees if you want them to invest in the company.

 

What’s the Catch?

Giving an employee a well-deserved gift seems like an effortless exchange. However, the process isn’t as simple as some companies might think. The Incentive Research Foundation found that less than 67% of businesses are aware of the tax regulations for their reward programs.

As of April 1, 2018, companies are now subject to report taxes on non-cash rewards, as well as be mindful of the tax burden on the receiving employee. Assorted types of gifts or rewards, including those given for recognition, sympathy, and retirement, all have specific regulations. The University of California, San Francisco organized a summary of the assorted items, per-person limits, and corresponding tax treatments.

Disclaimer: We are not lawyers and any information provided should not be relied upon as legal advice. The best way to make sure you’re complying by the IRS regulations is to consult an expert.

If you’re planning to implement a new reward or program, contact a tax advisor to find out the current regulations. Regulations are constantly changing and can vary based not only on the amount of the gift, but also the situation and other ramifications.

Things to Consider When Booking a Non-Traditional Venue

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When planning an event, there are several reasons to choose a non-traditional venue. Often times we choose a non-traditional venue due to a lack of traditional space in Charlotte that can accommodate more than 250 guests. Atmosphere and availability have also sent us in search of new, unique spaces.

Buyer Beware

Choosing a space that is not equipped for events can be exciting and opportunistic; however, it often comes with hidden challenges. Choosing an empty warehouse for an event means no rules – the sky is the limit! And you were probably able to get it for a steal. But not so fast – you got it at a steal for a reason. All that money you saved is most likely on its way back out to pay for all the missing elements in your new venue space.

From the Ground Up

What is your potential venue lacking? Most likely restrooms. A restroom trailer, attendants and a water source will need to be secured. If your space does happen to have restrooms, it’s most likely lacking in the restroom amenities such as toilet paper, paper towels, soap, and in some cases mirrors. And don’t forget to have the water turned on.

A space not typically used for events will likely require a thorough cleaning. This means hiring a cleaning company to come in pre-event and to clean up post event in order to leave the venue as you found it – or better.

What kind of shape is the venue in? Does it need a down and dirty paint job? Are there holes in the ceiling that might not be noticed except during a rainstorm?

Does it have HVAC? Don’t forget that HVAC requires fuel and generators. Does the space have adequate power for catering needs as well as audio visual requirements? If the answer is no, add a couple more generators to that budget list.

Most empty warehouses are not equipped with top of the line locks. Hire overnight security to keep watch on a multi-day set up. The security will cost a lot less than the replacement fees for all the audio visual equipment.

Rules, Regulations & More

Installing tech equipment in an airport hangar.

What is the occupancy code for the building? Is it even coded? If it isn’t coded to have a large number of guests, submitting an event floor plan to the fire marshal is required. In Charlotte, it’s a requirement to have at least (2) egresses for up to 199 guests and 3 egresses for 200-499 guests and so on. Make sure to check with your local Fire Marshal for your local requirements. And keep in mind, roll up doors don’t always count.

One of the non-traditional venues we used in the past wasn’t coded for enough guests because it didn’t have a voice activated fire alarm system. As you can imagine, this was a pricey installation.

Empty, non-event spaces probably do not have the traditional items such as chairs, tables, stages, podiums and lighting. It likely won’t have a kitchen either. Depending on your event menu, erecting a catering kitchen can be costly. Warmers, ovens, grills, cooling units and prep space add up fast.

While unique venues are exciting, beware of the challenges that await you. Don’t let the unknowns scare you from choosing these types of spaces, but rather be prepared and catch the problems on the front end. And for those problems that surprise you, consider building a contingency into your budget to allow you to address them.

How to Get Attendees to Network (and Enjoy it)

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Regardless of if an event has an alternate intended purpose, any gathering of a group of people can present the opportunity for them to network.

Why is Networking Important?

Despite its sometimes dreadful connotation, the working world is fueled by networking. Personal connections can lead to meaningful business and career opportunities.

Additionally, attendees like to feel like they are getting something out of the event. Whether they’re taking time out of their work day or their weekend, knowing the event will serve a purpose motivates them to attend.

There are many reasons people attend an event, but more often than not, people attend to see and be seen. Knowing they will have the opportunity for invaluable face time with certain people can make the event worthwhile, and subsequently more enjoyable.

Making Time to Network

If time isn’t set aside for networking, attendees will naturally make their own time, potentially in the middle of your program. It’s important to understand your audience and their needs. If networking is necessary, incorporate it either before or after the programmatic portion of the event.

Atmosphere

provide seating for network opportunities

The event space shouldn’t be too big or too small. You don’t want the area to be so crowded that people can’t move or see a person on the other side of the room, and you don’t want the area to be so large that it creates an awkward cavern feeling. An ideal space will create an intimacy and warmth that helps initiate conversation.

The room layout can also help stimulate conversation with lounge areas and soft seating. Add drape or string curtain to give more structure to the lounge space.

Additional Elements for Fostering Good Opportunities to Network

The bare minimum for a networking event is a room and people. If we’re getting technical – it’s just people. However, there are plenty of additional elements that allow networking to be more enjoyable and even more productive for attendees.

  • Entertainment: A silent room can be awkward. Whether it’s piped in or live, music can give background noise that alleviates the silence and adjusts the mood in the room. With that being said, the music should be peppy, but not too loud that it overpowers the conversation. Sometimes music with lyrics can cause guests to lose focus. If an event is featuring a live band or form of entertainment, it is best to schedule networking times around the act to avoid distraction.
  • Activities: Activities can serve as icebreakers and conversation starters. Lighthearted and easy-to-start activities can be anything from an oversized game of chess to a virtual reality booth. Games or activities should be easy to start and stop. Activities can even serve a dual purpose as décor, such as a coloring wall or ice graffiti sculpture.
  • Technology: Tech elements can be used to enhance the cool factor of an event, and cool things = conversation starters. As a bonus, incorporating technology can also help track attendance and ROI. We used Swarmworks technology that matched attendees based on a set of pre-answered questions about their interests and experiences. Attendees were able to see their “match” on a digital projection map of the room.
  • Food & Beverage: Food and beverage elements allow guests to have something else to spark a conversation other than the weather. Wine or beer tastings, a rolling mixology cart, and spice making, are some easy-to-participate elements that can give guests something to talk about.