What is Tangible Rewards?
Tangible Rewards are material rewards given by employers to recognize and appreciate an employee's good work. These rewards are designed to motivate employees and encourage them to achieve specific goals. Tangible rewards can be either financial or non-financial but should have significant value to provide meaningful benefits to employees. Receiving such rewards fosters motivation and strengthens employee loyalty toward the organization.
Examples of Tangible Rewards:
Cash Bonuses
Direct monetary rewards for outstanding performance.
Salary Increases: Permanent pay raises as recognition of an employee's contributions.
Gift Cards: Vouchers for shopping, dining, spa services, or other perks.
Memberships: Access to clubs, gyms, or exclusive programs.
Tangible rewards are a powerful way to acknowledge employee efforts and maintain a motivated, satisfied workforce.