Ways to Offer Non-Cash Based Reward Systems

Actually there is no exact rule on how companies offering a reward to their employees or employers. If we are talking about reward, most people will think about cash or money. It is quite simple to hear that a manager increases salary or give extra incentive to his or her outstanding employees.

Can reward be non-cash? Of course there are two types of reward systems in business: Case Based and Non-Cash Based. The problem is that what we mean by non-cash based reward system. The word indicates the meaning already. There is no cash or money to give. It is all about emotion, praising, encouraging. That leads to another question which is what to offer.

-Give a welcome to well done work: A good manager will give praise to a good-working employee in front of other employees directly. By doing so that employee will be motivated and feel proud of what he or she has done; therefore he or she will have a strong commitment to keep up with the good work.

-Transfer or secondments: It is similar to promotion but it is not all about increasing salary but grade of the work. It can be done by transferring a good employee to a better work place. If you think that the employee can manage to complete the work successfully, you may consider a training course on the particular course that allows him or her to work in that position. Usually it is about a new project. The manager may promote a well working assistance to work as a new project manager.

-Training and Education Opportunities: People seek improving themselves so if you give them a wide range of training to every level of employees, he or she will try to work to achieve the next level to catch the training opportunities offered by the company or organization.

-Involvement in Specific Projects or Events: This technique usually is done to a low class employee. It makes senses for them. Give them chances to join company strategy meeting or any specific company project. He or she will feel that they are really a part of the company or organization since they are part of important meetings.

-Commendation for Personnel Files: It is all about manager. It requires a clear judgment by manager. The manager needs to give a clear recommendation on particular employee under his or her supervision, which allows the human resource department a guide to allocate human resource to different places.

-Mention in Internal or External Media: It is a big clap to a particular outstanding employee. The company may spend some money for a local media to mention the best employee of the year of the company.

-Visit or Phone Call or Notice from Senior People: People need to be recognized by other people especially from their icon. The manager should arrange some time for best performance employees to meet senior people of the company. The senior people can be member of BOD, retired CEO, or other respectful people. By doing so the target employees feel that they want to be like those senior people which they can force themselves to perform even better than now.

Ways to Offer Non-Cash Based Reward Systems