What are Tangible rewards?
- Triangle rewards can be financially based rewards or non-financial rewards that can be easily assigned a financial value e.g. a membership to a gym.
- Tangible rewards are different from intangible rewards, like things that can not be easily assigned a financial reward. These can be public recognition or inclusion in a new training course.
- A good manager will ensure to provide a mixture of tangible and intangible rewards to employees/ workers.
- In a research study, it is suggested that both a mix of tangible and intangible rewards to employees are necessary for long-term happiness and success as productivity will increase in the workforce.
- A criticism that is common about tangible rewards is that they are known to be short-term motivators i.e. employees start to expect them. This is resulted in receiving them more and more.