Tangible Rewards
What are Tangible Rewards?
Tangible rewards are physical or material items given to employees as recognition for their achievements. These rewards can include items like gift cards, branded merchandise, or extra time off, providing a concrete form of appreciation.
Why They're Important
Tangible rewards play a crucial role in employee motivation by offering something of value that can be directly enjoyed or used. They reinforce the impact of recognition and offer a meaningful token of appreciation.
Tangible Rewards in Practice
A company might give employees a voucher for a popular restaurant or provide a gift card for a store of their choice as a reward for meeting a sales target.
Benefits of Tangible Rewards for Employee Engagement
- Provides a physical (often personal) token of appreciation.
- Increases employee satisfaction by offering desirable, tangible items.
Best Practices for Tangible Rewards
- Ensure rewards are aligned with employee preferences.
- Offer a variety of rewards to appeal to different employees.
- Make sure rewards are meaningful and relevant to the achievement.