CIPD issues guidance on non-cash incentives
The Chartered Institute of Personnel and Development has published a new factsheet on non-cash incentives.
The factsheet gives introductory guidance. It:
defines and sets out the rationale for the use of non-cash incentives
summarises the differing types of non-cash incentive used by employers
considers links with employee recognition schemes
explores the pros and cons of non-cash incentive schemes
examines the issues involved in setting up and running programmes
includes the CIPD viewpoint.
“The use of non-cash incentives can be effective in motivating employees within the context of a wider reward strategy that is closely aligned with business strategy. For such schemes to succeed, employers must clearly communicate to employees the value and mode of operation of such schemes and ensure that line managers are fully engaged with the process.”
Want to know more?
Title: Factsheet: Non-cash incentives, Chartered Institute of Personnel and Development, April 2009.
Availability: To download the factsheet, free of charge, go to www.cipd.co.uk/onlineinfodocuments/factsheets.htm.
The Chartered Institute of Personnel and Development (CIPD) has more than 130,000 members and is the “leading professional institute for those involved in the management and development of people”. To find out more visit www.cipd.co.uk.