Tangible rewards are a form of financial compensation paid to employees by their employers. They can take many different forms, such as cash bonuses, stock options, or other benefits.
Tangible rewards are often used to motivate employees to achieve specific goals or targets. They can also be used to reward employees for their hard work and dedication. However, it is important to note that these rewards should not be the only motivation an employee receives to do their best work.
On the other hand, time-based rewards are typically forms of recognition that may be given in addition to materialistic rewards. These can include extra vacation days, tickets to events, or gift cards. Tangible benefits can be either monetary or non-monetary, but they must have a fair price so that employees may get value from them.
Several benefits come with giving employees tangible rewards. Here are some of the most important ones: