Nonmonetary Incentives

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Numerous nonmonetary incentives can be used to reward individuals, from onetime contests for meeting performance targets to awards for performance over time. A non-monetary reward can consist of almost any material object, it is compensation given in a transaction which does not involve cash.

Although such special programs can be developed for groups and for entire organizations, they often focus on rewarding individuals. Research suggests that while nonmonetary incentives may have intrinsic motivating properties, employee perceptions of these rewards are influenced by several factors such as pay equity, organizational justice, and managerial discretion.

Individual-level incentives are most effective when each employee’s performance can be identified, isolated, measured, and rewarde...