HOW COULD WE RETAIN EMPLOYEES WITH NON-MONETARY INCENTIVES IN OUR ORGANIZATIONS?

Abstract

The most important factor of every company is its employees, as one of the most valuable resources, they play a big role in the market growth of the company. That is why more and more emphasis is placed on non-monetary employee incentives. This paper will explain what we mean by incentives, what types of non-monetary incentives we distinguish and how they affect the efficiency of employees. Non-monetary incentives have become a very popular method of motivating employees in the last few years, and their importance for motivating workers is confirmed by the results of numerous researches. With effective training, employees are bound to develop their skills and achieve more. Within non-financial rewards, employee recognition and effective training were identified as the most important factors in job satisfaction.