Question

what are financial and nonfinancial incentives

Answer 1

Monetary benefit offered to consumers, employees and organizations to encourage behavior or actions which otherwise would not take place. A financial incentive motivates actions which otherwise might not occur without the monetary benefit.
On the other hand,Non-financial incentives inspire and engage employees in ways that money is incapable of doing. Non-financial incentives are the types of rewards that are not a part of an employee's pay. Typically, they cost the company little or no money, yet carry significant weight.

Answer 2

Answer:

• Financial Incentive refers to the incentives offered to employees which are either direct monetary form or can be valued in monetary terms.
• Non- Financial Incentive refers to the incentives which are given to provide psychological and emotional satisfaction rather than monetary satisfaction.