Non monetary rewards in the workplace
Some non-monetary rewards in the work placeEmployees today are ravenous for encouragement and positive feedback, but few feel they are receiving it. Here are the five top non-monetary rewards in the workplace that employees want:
1. 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.
2. 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 employees schedule you can increase their desire and motivation. This, to some, is considered the most important of the non-monetary rewards in the workplace.
In today's high paced work environment it is reported that employees consider it very rare and infrequent that they receive recognition of their work and efforts. Think about it - What better way to have employees continue their good work and success then to offer them praise-verbal, written or ideally a public announcement or employee award? Recognition is probably the most sought after of the non-monetary rewards in the workplace.
4. The Opportunity to Contribute.
The opportunity to be part of the team. To work closely with managers and management. To be involved in key decisions. To be listened to and heard. 5. Independence and Autonomy.
Employees want to be able to work independently. They do not want someone constantly watching over them and questioning their every move. They like to receive their assignments -preferable with the time frame required for completion and then have the independence to complete the work given the guidelines and framework you have set on their own merits. This may not be seen as one of the more obvious non-monetary rewards in the workplace, but it is definitely an important one.
These benefits can go a long way in creating employee/employer loyalty and respect. This clearly demonstrates there are many points, besides money, to consider when you establish your management and employee policies. Here are some ways you can give non-monetary rewards in the workplace to help you recognize people more often. You'll be amazed at how receptive employees are.
Written Words : Send handwritten thank you notes, put a letter of appreciation in the employee file, send handwritten cards to mark special occasions. post an award on a workplace bulletin board, or make sure the special thank you appears in the company newsletter
Positive Attention from Supervisory Staff: Stop by an individual's workstation or office to talk informally and say thank you, provide frequent positive performance feedback, offer praise at a staff meeting or take the employee out to lunch.
Encourage Employee Development: Send people to conferences and seminars then ask them to present a summary of what they learned at a department meeting. Or create a written employee development plan with career development commitments.
Symbols and Honors: Present employees with award certificates, honor outstanding employees with engraved plaques. Or select personalized award gifts like desk clocks, mugs or logo clothing.
These are just some of the non-monetary rewards in the workplace. Think about what is important to your employees and we're certain you can add to the list.