Non-Monetary Impact on Performance

In: Business and Management

Submitted By imia14101997
Words 1605
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IMPACT OF NON-MONETARY MOTIVATORS ON STAFF PERFORMANCE Positive impact
According to the Merriam-Webster dictionary, motivation is one of the external and internal factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject or to make an effort attain a goal. Armstrong (2014), classifies motivation as strength and direction of behaviour and the factors that influence people to behave in certain ways. This section will illustrate the impact of non-monetary motivators on staff performance. Watson, (1994) admits that motivation is the number one problem that is facing modern business today. Non-monetary motivation is one of the most essential ways to motivate staff within an organisation. In many countries owners and top managers are using systems of motivation for staff. In the U.S.A. seventy five percent of organisations motivate staff with non-monetary motivators. This percentage reflects the importance and positive impact of motivation of employees.There are many types of non-monetary motivators and all of them have positive impacts on organisations. Douglas, E (2012) believes non-monetary awards may include: • Restaurant coupons
• Relocation costs
• Movie tickets
• Recognition of birthdays
• Free lunches, snacks, or beverages
• Covered parking spaces
• Outstanding employee plaques
• Employee discounts
• Tuition Reimbursement
• Preferred office/classroom/team selection
• Flex time
• Job "swapping"
• Personalized items (shirts, jackets, briefcases, planners, mugs, hats)
• Loan assistance
• Paid sabbaticals
• Gym membership, trainers, spa services
• Healthcare benefits
• Additional life insurance
• Day-care
• Free cell phone or other technology products
• Financial advising services

According to Griffin (1990), in most instances, employee performance is determined by three…...

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