10
Apr
As the name says non-Monetary incentives are non-cash perks or benefits provided by an employer to an employee. Additionally non-monetary perks are easy to implement, track, and maintain. More importantly, they don’t strain the company budget that much.
Money isn’t the only thing that employees want. While financial motivation can attract certain talent to your organization, it can’t always keep it. Employees are looking to companies to provide them with an exceptional work environment and culture that encourages them to grow personally and professionally. Non-monetary rewards allow your company to do just that and more. It’s important that employers show their appreciation for the time and effort they contribute to the company in ways beyond the pay check.
Even little things like free coffee and free parking can work wonders and make employees happy. Recognizing Employee Achievements, keeping employees involved, Flexible work hours, Paid vacation days can be part of your Non-Monetary Benefits and Perks.