Part1:4 Identify examples of financial and non-financial rewards

Financial rewards are also know as Monetary rewards,examples are:

•  Commission:  It often paid to sales staff,commission is paying more money as an extra according to more goods sell,it acts like a motivator to encourage the workers to work with their full potential therefore increasing there performences.

• Profit sharing: It is addition to a basic salary,worker are provided with a percentage share of the profit made at the end of the financial year of the organisation.This help to motive the employees to worker effectively according to the organsation`s objectives.

• Bonus: It is an extra money gievn to well perfomed employees.

• Performence Related Pay(PRP): It is the pay awarded to the worker is related with it`s performance at work.Performances are assess in the organisation by the manager by the use of perfoemance appraisal.

Non-Financial Rewards are:

• Discounts on firm product
• Health care paid by the organisation
• Free accomodation
• Free trips for holidays
• Pension
• Company vehicles
• Workers children`s education freely paid