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The Compensation Handbook, Sixth Edition: A State-of-the-Art Guide to Compensation Strategy and Design, 6th Edition by Dorothy Berger, Lance Berger

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14

Using Nonmonetary Awards to Support Behaviors that Drive Business Results

MELISSA VAN DYKE

Incentive Research Foundation

As the post–Great Recession American economy emerges, it is no secret that many organizations are conspicuously lean on traditional human capital reward levers, including raises, bonuses, and promotions. Coupled with a new capitalism heavily dependent on the knowledge worker who is often asked to wear many unrecognized hats (e.g., employee, innovator, trainer, project leader), it is understandable why executives have expanded their interest in optimizing nontraditional portions of their total rewards strategy. Specifically, the interest in nonmonetary rewards and recognition has continued to grow since WorldatWork introduced ...

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