Article: Engaging employees the non-monetary ways

Compensation & Benefits

Engaging employees the non-monetary ways

Employee rewards have been an integral part of India Inc and are considered a must for enhancing employee engagement and productivity. However, of late, there has been a drastic change in the employee rewarding system as employees are keen on receiving several intangible benefits from the employer, apart from the usual monetary benefits. According to surveys and reports people managers are re-working on employee benefit schemes to match changing employee expectations. Experts say monetary benefits alone will not work anymore as today’s employees count on several nonmonetary benefits from employers to stay productive at work, the benefits that employees look for from employees depend on their personal priorities too.Thus, good employees need both, tangible and non-tangible benefits and organisations have started investing in providing a steady mix of both to their employers to attract and retain the best talent. 

Employee rewards have been an integral part of India Inc and are considered a must for enhancing employee engagement and productivity. However, of late, there has been a drastic change in the employee rewarding system as employees are keen on receiving several intangible benefits from the employer, apart from the usual monetary benefits. According to surveys and reports people managers are re-working on employee benefit schemes to match changing employee expectations. Experts say monetary benefits alone will not work anymore as today’s employees count on several nonmonetary benefits from employers to stay productive at work, the benefits that employees look for from employees depend on their personal priorities too.Thus, good employees need both, tangible and non-tangible benefits and organisations have started investing in providing a steady mix of both to their employers to attract and retain the best talent. 
 

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Topics: Compensation & Benefits, Performance Management, #BestPractices, #TotalRewards

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