During times of organizational financial constraints, when bonuses or merit increases might not reflect excellence, it remains important to reward employees. Research shows that nonmonetary rewards help to motivate and engage staff. Therefore, below are a few resources on some of the best ways to reward employees outside of pay raises. There are even more suggestions for how to reward your staff under the “Additional Resources” section.
5 Ideas for Nonmonetary Compensation:
25 Ways to Reward Employees (Without Spending a Dime): http://www.hrworld.com/features/25-employee-rewards
Nonfinancial Rewards: Finding New Ways to Engage: http://www.shrm.org/hrdisciplines/benefits/articles/pages/nonfinancialrewards.aspx
1501 Ways to Reward Employees by Bob Nelson, PH.D. [Book]
Cohen, Shelley. Compliment your staff with nonmonetary rewards. Nursing Management. Dec2006, Vol. 37 Issue 12, p10-14. 2p. [Link to article here]