What is Intangible reward?
Intangible reward refers to a class of rewards which have no material or monetary value but can keep the employee feeling recognized and motivated.
Intangible reward definition
Intangible reward refers to a class of rewards which have no material or monetary value but can keep the employee feeling recognized and motivated.
Types of intangible rewards
• Praise
• Thanks
• Public acknowledgment/recognition
• Lunches and dinners out
• Encouragement to pursue ideas
• Personal development opportunities
Benefits of intangible rewards
- They can help in the long run by boosting motivation levels of employees
- They do not cost much.
- Even if discontinued they do not lead performance dicreasing.