A nonmonetary reward is a nonfinancial benefit, opportunity, or acknowledgment that recognizes an employee’s contribution or performance. It can motivate people without relying on a cash payment, budget approval, or formal incentive. section 6.3.2
Practical forms of nonmonetary recognition include:
- Give clear, concise praise privately in a one-on-one conversation. section 6.3.2
- Designate a high-performing employee as an expert or subject-matter expert. section 6.3.2
- Offer increased responsibilities or opportunities to represent the team in meetings. section 6.3.2
- Share accomplishments with managers and leaders by acknowledging the employee’s work in email. section 6.3.2
A growth-focused reward
An employee seeking promotion may value public affirmation of their growth, increased responsibility, or a chance to represent the team more than a small monetary gift. section 6.3.2
Effective recognition is generous, specific, and matched to the individual’s motivations. Nonmonetary rewards are flexible, but recognition still works best when achievements are clearly named rather than undersold. section 6.3.2
