Our employees may be motivated by a range of different factors and may not always be motivated by being paid more money directly in their pay especially if they lose a great deal in tax although we are all pleased to get more money there is no public recognition of a job well done in that approach. This view is recognised in many organisations which now seek to provide both monetary and non-monetary awards. Some of the non-financial awards we have selected will also have a monetary value. We have included them as non-monetary rewards as the fact of an award being special, in recognition of a job well done or special effort made , may have a motivating affect larger than purely monetary value. Saying thank you is a much overlooked form of non-monetary award in many organisations.
They asked our staff what forms of rewards they would like for an employee reward day and organised two music festivals, on in London and one in edinburgh. Other individual rewards which proved extremely popular were the opportunity to stand on a replica of the trafalgar Square.
Our most commonly used non-financial rewards are:
- Overseas travel
- Gift vouchers
- Free/environmental rewards