GENERAL KNOWLEDGE

Detailed explanation-1: -Non-financial motivators, which are less common, are often intangible and do not involve money directly. Examples of these include recognition, added responsibility and trust in a role, participation in decisions, flexible schedules, mentorship, feedback, and others.

Detailed explanation-2: -Research shows getting frequent praise can increase an employee’s productivity and creativity and that acquiring a good reputation activates the same reward centres in the brain as receiving money – suggesting public praise can be as motivating as financial rewards.

Detailed explanation-3: -The main methods of financial motivation used in business are remuneration, bonuses, commission, promotion and fringe benefits.

Detailed explanation-4: -The methods for non-financial motivation can vary widely between companies. To be sure, it does not directly involve monetary compensation or money-related matters such as salaries and bonuses.