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Comparison of Monetary and Non-Monetary Benefits in Reward Systems

Explore the different types of rewards in the workplace - monetary and non-monetary benefits. Understand how reward systems impact motivation, satisfaction, and performance. Discover various forms of rewards and their effectiveness in enhancing employee engagement. Learn about the importance of both monetary and non-monetary benefits for a well-rounded reward strategy. Presented by Ravi Anand, Rajdeep Chauhan, Rajendra Dhanger, and Reynold Varghese.

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Comparison of Monetary and Non-Monetary Benefits in Reward Systems

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  1. Comparison Of Monetary And Non Monetary Benefits.

  2. What is a Reward System?

  3. Reward can be defined as anything that both increases the strength of response and tends to induce repetitions of the behavior that preceded the reinforcement . Hence a REWARD is simply something that the person who presents it deems to be desirable .

  4. Types Of Reward • Monetary benefits. • Non Monetary Benefits.

  5. Process Perspective Performance Monetary Benefits Non-Monetary Benefits Motivation Satisfaction

  6. Monetary Benefits • Commissions beyond sales to customers. • Rewarding leadership effectiveness. • Rewarding new goals. • Pay for knowledge workers in teams. • Skill pay.

  7. Non Monetary Benefits • In the form of consumables. • In the form of manipulatables. • In the form of visual and auditory rewards. • In the form of social rewards. • In the form of job design.

  8. Conclusion.

  9. Presented By :- Ravi Anand. Rajdeep Chauhan. Rajendra Dhanger. Reynold Varghese.

  10. Thank you.

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