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So we ran the experiment. For a period of time, in our control groups of Googlers, people who were nominated for cash awards continued to receive them. In our experimental groups, nominated winners received trips, team parties, and gifts of the same value as the cash awards they would have received. Instead of making public stock awards, we sent teams to Hawaii. Instead of smaller awards, we provided trips to health resorts, blowout team dinners, or Google TVs for the home. The result was astounding. Despite telling us they would prefer cash over experiences, the experimental group was happier. Much happier. They thought their awards were 28 percent more fun, 28 percent more memorable, and 15 percent more thoughtful. This was true whether the experience was a team trip to Disneyland (it turns out most adults are still kids on the inside) or individual vouchers to do something on their own. And they stayed happier for a longer period of time than Googlers who received money. When resurveyed five months later, the cash recipients’ levels of happiness with their awards had dropped by about 25 percent. The experimental group was even happier about the award than when they received it. The joy of money is fleeting, but memories last forever.
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Laszlo Bock (Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead)