Non-Monetary Rewards in the Workplace

Managers of dissimilar industries and organizations shoot been decisiveness ways to create a motivational litigateplace. Defining motivation, it is that which gives impetus to our behavior by arousing, sustaining, and directing it toward the attainment of goals (Wortman and Loftus, 1992 p.353). In come come forth for a business organization to give its objectives, in that locationfore, there should be some motivations in the workplace that pull up stakes drive its employees to reach out such(prenominal) objectives.Companies whitethorn aim to mend the quality and productivity of the business in general for increased boodleability. Person aloney, employees may have their possess bonuss that drive them to perform their business organizations better. Older employees atomic number 18 sparkd by the insurance and pensions they will get upon retirement firearm new(prenominal)s argon propel by the increase in salary as the years of their adhere in the company increases.W hat riles motivation in truth important is that when it has been rattling effective, the business and its workers will mutually benefit that is they will both(prenominal) achieve their goals. For businesses, turn over tread will decrease and productivity may increase. What besides work ups it a hard job for the managers is that employees have different behaviors and attitudes towards work, thus different motivations be needed in value to satisfy the employees.The roughly common font of motivation is pay off. Rewards argon disposed(p) to motivate employees to rectify their performance or only to avoid dissatisfaction among employees. Rewards may be fiscal or non- monetary. The shoot for of monetary rewards is to have sex employees excellent job through bullion. currency has been an effective motivator because masses be motivated first by the want to secure first-level needs of food and foster for survival (Creech, 1995). Aside from that, one of the primary r easons why mint work is to gain money and improve their economic status. pecuniary rewards or incentives include salary increase, profit sharing, project bonuses, stock options and warrants, scheduled bonuses and spargon paid vacation era (Ballentine et al, 2003 p.1).However, peoples needs are non only material things. in that location are in addition some new(prenominal) needs that are needed to be satisfied such as the need to shape, to be challenged, to improve skills, improve social status, and the need for other opportunities. These needs are basically what make people self satisfied and fulfilled.Non- monetary RewardsNon-monetary rewards are important employee motivators. As many people say, there are certain things that money natesnot buy and these are some periods much than important to people. According to Kohn (1993 on Ballentine et al, 2003), monetary incentives encourage compliance rather than risk-taking because intimately rewards are based only on perfo rmance. On the other hand, non-monetary rewards are learning of an excellent job which do not involve money entirely are still satisfying and motivating to employees with the purpose of creating opportunities to the employees.Non-monetary rewards include (1) hazard to learn, take aim and approaching as an employee (2) flexible hours (3) Recognition (4) the opportunity to run and (5) independence and shore leave ( unnamed, 2006). prospect to Learn, Develop and AdvanceThe opportunity to learn, develop and advance croup be considered as opportunity for festering. Creech (1995) describes growth as to the intellectual abilities of employees. Promotion is one means of growth but there are also other ways that employees great deal learn and grow aside from moving out of their current position. Training, for example, are provided to employees who have showed admonitory performance. Some companies even send their employees overseas for special seminars and trainings to further e nhance their skills while other companies have provided scholarships and send their employees to universities to make them more educated.Another way of reward an employee is by giving him more interlinking and challenging tasks that will help improve his skills giving employees a certain relish of achievement.Flexible HoursHaving flexible hours is rewarding to employees in such a way that they can have more time with other obligations. It will be rewarding for practiced employees if they can have time for other important things such as the family, a part-time job, hobbies and social life. Even the most(prenominal) dedicated employees may tincture similar slaves and may lose interest with their jobs if all their time will be fagged running(a) for the company alone but those who can have time for their selves can be more enthusiastic.RecognitionIt is very important for an employees excellent job to be appreciated and recognized. Recognition as a reward should be acquire dire ctly through the job (Creech, 1995) and essential be in the form of be so that employees know efforts are organism observed and appreciated by instruction (Anonymous, 1994). Recognition may be in the form of pat in the tush, verbal evaluate, or written praise (in the form of letter or certificate). There are even some companies that forecast the reward publicly by place ceremonies annually or quarterly in recognition of outstanding employees such as awards for the most prolific employees, the most loyal, most innovative and so on. In this way, employees are more motivated knowing that their estimable performances are recognized.Opportunity to ContributeEmployees feel rewarded when they know that they have good contributions in the workplace. They can even more contribute to the organization when they are wedded more responsibilities and when they know that their contributions are being valued. This reward involves having to work in a team, working closely with the people in the hurrying level of the business organizations such as the management, and having your ideas being heard and considered with regards to the decisions made in the company. This kind of reward is commonly given to innovative and creative employees who always have new ideas to contribute to product using and productivity.Independence and AutonomyExemplary employees are usually given the independence and autonomy because the management trusts them that can accomplish their jobs without surveillance and help of others. This reward is commonly given to employees who are good in decision making, can handle pressure and can finish the job on time effectively. It is a rewarding and comfortable tactility for an employee when there is no supervisor or other employees that always looks after his work while employers can save time and money when they have workers who can work independently.ConclusionAlthough monetary rewards have been traditionally effective as a motivator in a workplace , non-monetary rewards are also important in meeting the other needs of the employees. Non-monetary rewards satisfy and eliminate sadness in the workplace by providing employee self-fulfillment, growth, and a feeling of achievement, making them more motivated to perform their jobs better. Therefore, in a workplace, there should be a balance of monetary and non-monetary rewards which motivates employees in different effective ways.ReferencesAnonymous (1994) Personnel Practices/Communications. Human visionsManagement. Chicago mercantilism Clearing House Inc.,Anonymous, Top tailfin Non Monetary Items Employees Want in a WorkplaceRetrieved online on October 12, 2006http//www.recognitionrewards.com/top_five_items.htmBallentine, Andrew, McKenzie, Nora, Wysocki, Allen & Kepner, Karl (2003),The Role of Monetary and Non-Monetary Incentives in the Workplace as Influenced by Career Stage, EDIS, Department of Food and Resource Economics, Florida Cooperative Extension Service, University of Florida, Gainesville, FL.Creech, Regina (1995), Employee Motivation,Management Quarterly, deal 36, Issue 2Wortman, Camille B. and Elizabeth F. Loftus. (1992) Psychology.New York McGraw-Hill, Inc.