What are Tangible Rewards?
‘Tangible Rewards’ refers to the rewards provided to the employees that can be quantified. It includes financial rewards as well as other kinds of rewards that can be allotted to a specific financial value such as appraisals, bonuses, commissions, etc.
Tangible rewards differ from intangible rewards which are the verbal praises and the motivational encouragement that an employee receives from their supervisors and managers. As these kinds of rewards cannot be assigned a financial value, they are referred to as intangible rewards.
A good manager would give equal importance to both tangible and intangible rewards and make sure that employees receive both as it would motivate the employee to engage more.
