The economic slump offers business leaders a chance to more effectively reward talented employees by emphasizing nonfinancial motivators rather than bonuses. A recent McKinsey survey indicates that executives find some nonmonetary rewards motivate employees better than cash bonuses do. See what they are, then let us know what's working in your organization.

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Author(s): Matthew Guthridge, Martin Dewhurst, Elizabeth Mohr
Original Source: The McKinsey Quarterly