Non-Financial Incentives for Employee Retention (Essay Sample)

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Non-financial Incentives for Employee Retention
Monetary incentives have long been used to retain employees in organizations. Although financial rewards such as bonuses and raises have been used to enhance employees’ performance successfully, they are not the only compelling employee retention motivations. Non-monetary incentives such as a flexible schedule, employee recognition, and training can also be effective.
First, a flexible schedule is an effective non-financial incentive for employee retention. A flexible schedule allows an employer to decide where and when employees workCITATION LiY20 \p 11 \l 1033 (Li 11). An organization can provide its employees with telecommuting options such as allowing them to set their working hours or work from home. Flexible schedules