EFFECTS OF NON-FINANCIAL REWARDS ON EMPLOYEES PERFORMANCE

INTRODUCTION

In an organisation, there should be more than financial reenforcement given to employees in order to motivate them. Financial rewards or so times is said to favour in short line while non-financial reward favour long term goals.
Non- financial rewards provide significant levels of employee satisfaction at little or no cost and the least costly non-financial reward is thank You. It has been noticed that most employees do not thank their employees plenty for their efforts.

Companies/organisation looking to reward performance and to promote a productive work ethic among their employees are said to increasingly embrace non-financial rewards. Also, non-financial rewards turn tails to focus more on the personal unavoidably of most people, therefore example of a scale theatre of operations will be use in order to scan importance of non-financial reward in an organisation.

At a moving in interview, a candidate who had been retrenched produced a photo album with clippings from her fountain companys newsletter and a national composition which featured her as an exemplary worker and an outstanding performer. She proudly announced to the interviewing personnel, The salary was not much but I was recognised as the best by being describe in the newspaper and rewarded with a big bonus.



I was sometimes invited to company dinners and sat with the bosses. I was VERY SATISFIED!
It was her commentary of motivation that had geared her to a sterling job performance. If the scotch vagaries had not forced her to be retrenched, she would have continued raze though her monetary reward was at the mid-range (A case ponder example by Khanna 2007). As we can see from the case study example that non-financial reward like recognition tend to have strong influence on performance of an employee and it brings approximately job satisfaction and engagement.

Below are the various forms of non-financial rewards in relation to motivational theories that can be employed or used by an employer to attract, motivate and retain...If you want to get a full essay, order it on our website: Orderessay



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