There are two main types of employee reward systems:1) Monetary Rewards - tangible "congratulations" on a job well done - i.e. Raises, bonuses2) Non-Monetary Rewards - non-tangible "congratulations" on a job well done - i.e. Verbally telling the employee they did a good job, recognition for the employee's work, giving the employee more power (promotion), etc.Non-Monetary rewards are usually more powerful n gaining the employee's loyalty to the company because they feel like they are appreciated for the work they do.
