What is an example of a non-monetary reward?

Time off is considered a non-monetary reward because it provides employees with valuable personal time without a direct financial incentive. Instead of receiving cash or benefits that can be quantified in terms of money, time off allows employees to recharge, manage personal commitments, and achieve better work-life balance. This type of reward can significantly impact employee satisfaction and retention, making them feel appreciated and acknowledged for their contributions beyond just financial compensation.

Other forms of compensation, such as annual bonuses, health insurance, and base salary, involve direct monetary value and are classified as financial rewards. Time off, however, emphasizes the importance of personal well-being and can serve as a motivational factor that fosters loyalty and increases productivity without a financial cost to the employer at that moment.