Cash or Kind?

In my company, they give gift vouchers as rewards. Sure, you get to pick the mall or store from which the voucher is issued, but it’s not the same as cash. When I asked why they don’t give cash, I was told that when the reward comes as cash (and hence as part of the salary), people don’t even realize they got an award! But with a voucher (or so they told me), you know exactly what you got as a reward. The association to the reward is clear, but not so with cash.

With that reasoning in the background, it was interesting to read about this reform discussion in the budget as to whether it was better to give cash (instead of subsidies) to the poor. Those in favour feel that cash can be targeted at the people who are poor, whereas subsidies end up getting doled out to even those who don’t need them. (Think of the amount you pay for that gas cylinder to see the point). Plus, the cash option gives the poor to use the money the way they want rather than having the government decide the items for which the price should be less. Those against the idea argue there is no effective way to identify the truly needy and poor. Plus, they say there’s the risk that the man of the house would just waste the money on alcohol!

For me though, cash is king. I struggle to decide which store voucher to collect and leave it to my wife. And even after getting the voucher, I often struggle to actually use it to buy something at that store! I would so like the HR at my company to wake up. Guys, even the government “gets” it. Aren’t you supposed to be smarter than them?

Comments

  1. KumarMarch 15, 2011 at 7:43 PM

    I tend to agree with your preference of 'cash'rewards to 'items' coming as rewards. Of course, I once got a small gold coin (5 grams or so) as that year's Diwali gift which I am still keeping and it has value even today. I can convert it to cash any time. But not all objects can do that trick!

    In India, the politicians gift away many things including television sets to people with the pretext of uplifting the lower strata people. But what they actually do is to use the tax payers money to get votes in the next election. I also understand that once elections are declared, such 'alms' are not allowed to entice people, so they clandestinely give money straight away to people.

    I don't know if your discussion is about these also. I suppose not.

    ReplyDelete

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