Non Cash Reward

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NON-MONETARY REWARDS 1. Define non-monetary rewards. Non-monetary/non-cash rewards is one of the compensation plan that offer by the organization without involving any transaction of cash given to the employees that had achieved excellent performance. The rewards given may be in term of acknowledgment from the leaders, praise from the boss or even a vacation. 2. Give 10 types of non-monetary rewards that you may offer in your organization. i. Direct congratulatory and praise from CEO Having direct congratulatory and praise from the CEO is one of the factor that can help to motivate the employees and lead them to continue their good work. By having direct praise publicly or written praise from the CEO will make the employees feel more appreciated by the top management and his/her effort in achieving the excellent performance are valuable. ii. Dinner with CEO Dinner with CEO is one of the extraordinary chance that one employee could ever get trough out his/her working period within the organization. Recognition from the CEO may boost up the motivation of the employees to continuously strive for excellent performance in their future. iii. Encouragement for furthering study Furthering study may open up new opportunities (extra knowledge, experiences, and look things differently from the others) for the employees as well as the organization to grow in the future. Employees is one of the organization’s assets that need to be taken care of. This type of reward had been implemented by Petronas as a way to motivate their employees and to improve their knowledge that could be of value in the future. iv. Family vacation/holiday In todays world, most people have less time with their families as they need to work hard to achieve better life. Some job position will require the holder to stay in the office

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