Role of Intangible Ways in Motivating and Appreciating Employees: An Empirical Investigation

Abstract

Factors that are used as a gauge of motivation of an employee towards their profession is their dedication, creativity, and energy. One of the most vital management ideas is to continually seeking ways to ensure higher level of motivation among employees. Monetary and non-monetary rewards given to employees work essentially in this regard. In this modern era, monetary rewards and incentives help in increasing performance level of employees as money is such a thing keeps an average person going. Training and development, stability in job, promotions, and positive and friendly working environment, business cards, preferred lunch hours etc., are non-monetary benefits that boost motivation of employees towards their profession. Using non-monetary incentive to inspire team towards their work are considered as highly effective technique. This way of inspiring team is powerful and increase retention of employees. Non-monetary benefits and motivational elements are example of advantages that are fundamental to work. Some other non-financial elements that make positive influence on employees are job enrichment, delegation, work-life balance, recognition, and gratitude.