Join Todd Dewett for an in-depth discussion in this video Using nonmonetary motivators, part of Motivating and Engaging Employees (2013).
- Money in its various forms can be a useful motivator,…but it's usually not the best.…Research suggests that people like and appreciate money,…but they like other rewards even better.…Non-monetary motivation is an effective…but sometimes overlooked approach…to energizing your team.…It's true, just giving people money is fast and easy.…But spending just a little more time…and being a little more thoughtful…can make all the difference.…Whether you're giving a simple thank you or some new perk,…non-monetary incentives have impact,…because they show your employees…that you see them as real individuals…worthy of unique awards.…
Compared to money, they also offer one additional benefit.…They more directly support intrinsic motivation.…They're less likely to be viewed as carrots…you are using to trick people into working…and more likely to be seen as a genuine thank-yous.…Before discussing a few common examples…of non-monetary incentives,…it's vital that I mention one of the most important rules…concerning any reward, whether it's money based or not.…
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- Assessing employee engagement
- Providing autonomy
- Building a transparent culture
- Modeling desired behavior
- Using monetary and nonmonetary motivators
- Fostering accountability
- Developing career paths for employees<br><br>
- The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.