For us, the choice is time-off award or cash award. To me it's a no-brainer because in terms of hourly pay, the time-off translates to significantly more money. But others struggle to find reasons to take time-off.

Good management knows what people want. Even better management recognizes that someone is burning out and gives the time-off even when they'd prefer cash.

There's a third minor option. Gift certificates for company swag. It's almost never used, because people find it insulting.