TWO TYPES OF REWARDS
There are two types of rewards—tangible and intangible. Tangible rewards are money, vacations, and material objects.
The best way to use money as a reward is to give a specific amount as a bonus directly related to the performance of a task or the achievement of a goal. Some companies make the mistake of giving a person a permanent pay increase for achieving a specific performance target, but then they are locked into that higher level of pay whether or not the employee ever repeats that performance. Specific, discrete bonuses are usually better.
Intangible rewards can be things such as prizes, plaques, and awards given at annual celebrations for exceptional performance. They can be in the form of additional education, which ...
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