| Nonmonetary
awards such as Employee of the Month have proven to be
effective for several reasons:
VALUE -
every time an employee looks at the award, it
reinforces past performance and provides motivation
for sustaining that performance.
PROMOTABLITY
- it's easier to promote than cash awards. There
is an excitement and recognition factor built into
nonmonetary awards that is not present with cash.
FLEXIBILITY
- the use of nonmonetary awards allows the
organization to adjust the measurements and
objectives, within reason, to reflect the changes in
the economy and industry.
EXPENSE
- nonmonetary awards are usually reasonable in terms
of cost and can be purchased over a period of time,
thereby allowing for budgetary requirements.
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