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Non Monetary Motivators

Inspire, encourage, appreciate, attract, reinforce, motivate, nurture, retain, engage, thank and "Bring out the Best in Your Employees:
Non-financial rewards can have an even more substantial impact on employee satisfaction and motivation than traditional financial rewards. A study by the Hay Group involving around four million employees found that employees listed work climate, career development, recognition and other non-financial issues as key reasons for leaving a job. Even well-compensated employees may leave a company if dissatisfied with these aspects. Companies with excellent non-financial incentive plans can attract, motivate and retain talented people
In the past, many companies relied on money almost exclusively to motivate their workforce, but employees often rate other aspects, such as recognition and flexibility as more important. The problem with relying too much on money as a motivator is that it can encourage employees to focus on whatever will earn an immediate incentive rather than on finding long-term solutions or creative new approaches. It can also lead employees to see each other as opponents in a competition rather than working together for mutual benefit
The purpose of non-monetary incentives is to reward associates for excellent job performance through opportunities. Non-monetary incentives include flexible work hours,training, pleasant work environment, and sabbaticals.

Recognition:
According to a survey conducted by consulting company Mercer in 2011, employees in Argentina, Brazil, Canada, Mexico and the United States all listed “being treated with respect” as the single most important factor in motivation. Recognition and praise can send employees the message that the company respects them and values their contribution. Financial incentives and bonuses were number 13 on the list in all five countries. American employees rated “base pay” fifth on the list, so although financial rewards remain important they actually have less importance for most employees than respectful treatment and recognition.
In today's high paced work environment it is reported that employees consider recognition of their work and efforts rare and infrequent. Think about it - What better way to have an employee continue their good work and success then to offer them praise-verbal, written or ideally a public announcement.
1. Research on what employee’s value for rewards and recognition indicated a monetary reward only ranked 12th in a list of items important to employees. It is true, we all need money for the expenses of day to day living but studies indicate that when employees receive a monetary bonus it is typically used to pay bills, expenses or purchase something that the employee needs, not some thing they truly enjoy. Consequently money becomes a very in-personal gift.
2. Conversely, if you want to give a very sincere gift that not only says thanks but will help create the loyalty, dedication and motivation you would like your employees to have, consider a gift or award that will touch them personally. Something they will truly enjoy and use or some thing that brings them pleasure in their leisure or family time
Applaud their efforts — literally. If someone has done something really worthwhile, have your entire staff give them a standing ovation at the next meeting
3. The Opportunity to Contribute.
- The opportunity to be part of the team.
- To work closely with managers and management.
- To be involved in key decisions.
- To be listened to and heard.
4. Independence and Autonomy.
Employees want to be able to work independently. They do not want someone constantly watching over them and questioning their every move. They like to receive their assignments -preferable with the time frame required for completion and then have the independence to complete the work given the guidelines and framework you have set on their own merits.

 
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