Tangible Rewards

A tangible reward is a concrete, material benefit or incentive given to employees in recognition of their achievements, contributions to the organization or performance. Tangible rewards can come in different sorts, ranging from cash bonuses, gift cards, merchandise to events, such as travel vouchers or event tickets. Unlike moral rewards like praise or recognition, physical rewards offer recipients a physical thing of value as a token of appreciation or motivation for their efforts.

Example

The sales team of a company beats its quarterly revenue targets, prompting the company to reward team members with outstanding financial rewards to appreciate their notable achievement. Each team member is paid a performance cash bonus which is calculated as a certain percentage of the total revenue amount that is beyond the established target, generating an immediate financial appreciation for their efforts. Furthermore, the top-achieving sales people are awarded with gift-cards to favourite shops or restaurants as a token of gratitude towards them for their hard work and commitment. Through provision of material incentives, the company consolidates a culture of performance achievement, moves employees forward and keeps staff members motivated and loyal.