According to key turnover factors, which type of incentives hold greater importance in employee retention?

Non-material incentives, such as recognition, significantly contribute to employee retention due to their ability to enhance motivation and job satisfaction. Recognizing employees for their contributions fosters a positive workplace culture and encourages loyalty. When employees feel valued through acknowledgment of their efforts, it can lead to higher levels of engagement and commitment to the organization.

Moreover, while other factors like material incentives, working conditions, and financial bonuses are important, they often do not create the same level of emotional connection or sense of belonging that non-material incentives can provide. Employees who are appreciated for their hard work may be more likely to stay with their organization, as they find fulfillment beyond financial rewards.