Intangible Rewards

[ɪnˈtændʒəb(ə)l | rɪˈwɔːd]
Definition:

These are rewards or recognition that carry personal value, but little or no monetary value. This may be praise or recognition of work done by employees, or an email of positive feedback sent to the business. Intangible rewards allow employers to retain their employees and keep them motivated.

Some of the great perks that organisations could offer employees are intangible rewards; this is because it gets to a point in an employee’s life where they do not need monetary related rewards, but are rather focused on benefits that will allow them to have a more flexible working life. Examples of intangible rewards involve night out dinners, “employee of the month days”, opportunities for personal development, discounts at restaurants and local bars.

 

 

Part of speech:
noun
Use in a sentence:
Offering intangible rewards helps retain employees.
Intangible Rewards