The corporate carrot (non-financial incentives)

Article Type: Abstracts From: Human Resource Management International Digest, Volume 18, Issue 2

Tarrant D.In the Black (Australia), October 2009, Vol. 79 No. 9, Start page: 36, No. of pages: 4

Purpose – Looks at non-financial incentives for employees. Design/methodology/approach – Reports that current economic conditions have increased the popularity of non-financial rewards for performance and argues that they help to retain employees and give employers good value. Notes that most rewards in Australia are low- to medium-cost (e.g. gift vouchers,cinema tickets, lunches etc.) although some, especially for sales staff, are more expensive and sophisticated (e.g. African safaris). Describes how various companies use rewards and recognition programmes pointing out that they need achievable targets and rewards, which match effort, suit the people involved and are seen as fair. Suggests that they should be managed centrally by the chief finance officer or the human resources manager and should offer participants some choice of reward. Originality/value – Looks at some alternatives to bonuses and pay rises for motivating employees.ISSN: 0004-8631Reference: 39AA785

Keywords: Incentives, Motivation, Benefits management,Australia