Non Monetary Incentives in the Workplace

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Do Not Show Me the Money: The Growing Popularity of Non Monetary Incentives in the Workplace
Latonya Page
University of Phoenix
RES/ 110
Week Four
Rose van Es, Instructor
March 29, 2008

Do Not Show Me the Money: The Growing Popularity of Non Monetary Incentives in the Workplace
With the growing decline of economy, more employers are using non-monetary incentives to motivate employees, yielding positive results. While everyone needs money for the expenses of everyday life, most current and long-standing employees rarely view cash as good motivation. If an employer pays fairly, employees desire appreciation and other non monetary rewards in exchange for a
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Happy employees are ultimately more productive, which benefits both the employee as well as the company (Sorauren, 2000).
Top Five Non Monetary Rewards
According to Ballentine (2007), “managers are constantly searching for ways to create a motivational environment where associates (employees) to work at their optimal levels to accomplish company objectives”, (¶ 1). Five of top incentives employees desire are as follows:
Flexible Hours
Family, children, friends, church, sports, hobbies and other activities all have demands on today's employees. A flexible schedule or the occasional afternoon off can help employees meet some of these obligations. By allowing some flexibility in an employee’s schedule you can increase their desire and motivation (Recognition Rewards Enterprises, 2007, ¶ 2).
In today's high paced work environment it is reported that employees consider recognition of their work and efforts rare and infrequent. Think about it - What better way to have an employee continue their good work and success then to offer them praise-verbal, written or ideally a public announcement (¶ 3).
Opportunity to Learn, Develop and Advance as an Employee
Employees understand they need to grow, learn and develop new skills in order to advance. The ability to be able to choose their assignments and rise to new challenges offered by new responsibilities is also appealing (¶ 1).
The Opportunity to Contribute
People appreciate the opportunity to be
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