Intangible Rewards

What is Intangible Rewards ?

  
‘Intangible Rewards’ refers to those rewards that are provided to an employee which doesn’t have a monetary value. These kinds of rewards are usually given for any task completed successfully and they don’t cost much.
 
Some of the most common types of intangible rewards include praising the employees, thanking them, publicly recognizing their talent or public acknowledgement of their achievement, etc. It might also include having a team outing or a team meal.
 
It helps the employee receiving the reward feel recognized and motivated. Along with boosting the employee morale, it also helps in engaging the employee and improving their loyalty towards the company.

More HR Terms

Nepotism

What is Nepotism? ‘Nepotism’ is the unfair practice of favouring a relative or friend when it comes to bestowing something of value rather than giving

Satisficing

What is Satisficing?   ‘Satisficing’ is a neologism of ‘satisfy’ and ‘suffice’, which refers to a decision making process that aims to satisfy all parties

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