Non-monetary reward is a compensation an employee receives from an organization that doesn't involve money. They are based on making employees feel valued and creating good relationship between them and management or organization rather than giving them financial benefits. Most of non-monetary rewards are intangible and are affordable by every organization since they don't involve money, unlike monetary rewards which are tangible and cost some money to offer them.
Examples of non-monetary rewards are;
- Good working condition
- Letting employees have freedom in performing their tasks
- Allowing employees to select tasks
- Showing appreciation and thanking employees
- Offering Training programs
- Flexibility
1. Good working condition
Every employee would like to work in a supportive environment that enable them to accomplish their tasks without harassment. Creating good working condition can be an effective reward to the employees that may enhance high performance and increase productivity in an organization.
2. Letting employees have freedom in performing their tasks (Autonomy)
Giving employees a freedom to use their own methods or ideas in accomplishing the given tasks is great non-monetary reward that can motivate them to work.
3. Allowing employees to select tasks
Every employee is passionate to a certain task he or she love. Giving employees a freedom of choosing tasks they would like to perform may also be a meaningful reward to them. This will make them be more committed since they are doing tasks of their choice.
4. Showing appreciation and thanking employees
Appreciation and thanks giving is a very powerful reward. Showing appreciation to the employees for the tasks they perform makes them feel more valued, this can boost their working morale in the next tasks.
5. Training programs
Training your employees is more than giving them new skills or developing their talents, it is also a reward that makes them feel competent and knowledgeable.
6. Flexibility
Allowing workers to work from home or adjusting their working hours is another reward to motivate the employees.
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