5 Reasons

Why Non Monetary Recognition is Better than Cash

People can be trained to respond to a system of rewards. Bonuses, cash prizes, extra vacation days can all be used to get employees to grind out a few extra hours each week.

However, as soon as the prize has been delivered people will stop performing.

Non monetary recognition, on the other hand, does not affect employee behaviour the same way that monetary rewards do. Here are 5 reasons why:

1. Recognition Brings Status

You can praise an employee on the front page of the corporate intranet. This can help elevate an employee’s status

among her peers.

Cash rewards, on the other hand, need to be kept private.

2. Recognition is Guilt-Free

Monetary rewards feel good for a moment. But once the money is in the bank many employees become conflicted.

Recognition, on the other hand, can be enjoyed by employees

with no strings attached.

3. Recognition Goes Above and Beyond

Cash is expected. It is part of the contract you make when you hire an employee.

Recognition, on the other hand, can be perceived as a gift.

4. Recognition Creates

Meaning

Doing meaningful work is deeply important to most people. Cash payouts don’t create meaning.

Recognition, on the other hand, is all about meaning. It says “I saw how much work you put into that account, and

that means a lot to me.”

5. Recognition is Human

People want to be part of a bigger social enterprise. When you recognize their contributions, you are building a personal

connection with an employee.

Cash, on the other hand, can be dehumanizing.

Perks have a weak exchange rate with today’s knowledge worker.

Read TemboSocial’s white paper and discover how non monetary social recognition programs provide short and long-term benefits.

Some of TemboSocial’s clients:

By leveraging the corporate intranet, TemboSocial’s suite of software add-ons help empower, inform, and create a culture of employee-driven excellence. TemboSocial helps drive engagement with Social Recognition, Ideation, Polling, Commenting, and Employee Engagement Surveys.

Thank you!