How can companies strike a balance between offering traditional monetary incentives and creative non-monetary incentives to ensure they are effectively motivating and engaging their employees?

Companies can strike a balance between traditional monetary incentives and creative non-monetary incentives by understanding the preferences and motivations of their employees. They can offer a mix of both types of incentives based on individual preferences and performance levels. Additionally, companies can create a culture of recognition and appreciation to boost employee morale and engagement. It is important for companies to regularly evaluate the effectiveness of their incentive programs and make adjustments as needed to ensure they are motivating and engaging their employees effectively.

Keywords

balance monetary incentives non-monetary incentives employee motivation engagement

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