Tangible rewards are the materialistic rewards paid by an employer or manager to the employee after recognizing good work and appreciating the same. The tangible rewards are given to motivate the employees to achieve desired goals. Tangible rewards can be financial or non-financial but they must hold a good value so that employees can get benefit out of them. When an employee receives tangible rewards he/she feels motivated and stays loyal to the company.
Most common types of Tangible Rewards;
- Cash bonus
- Pay raise
- Gift card (Amazon, Spa, Restaurant, etc)
- Club membership