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

Collective Bargaining

What is Collective Bargaining?   ‘Collective Bargaining’ is the term used to define the bargaining between employers and employees to reach a mutually beneficial agreement.

Absence

What is Absence?   ‘Absence’ is merely the absence of an employee from his or her workplace. Absence can be divided into ‘Approved Absence’ and

Workplace Gossip

What is Workplace Gossip?   ‘Workplace Gossip’ refers to gossip or informal communication between employees that are negatively focused on other employees’ lives. It is

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