The modern approach to company development is increasingly aimed at developing its employees and their competencies. It is with this approach that nowadays an increasing number of world companies are run, and efforts are being made to educate the workforce in order to do their job as well and efficiently as possible. It is the development of employees in the company, for the company itself ensures better utilization of labor, more accurate performance of tasks, today increasingly necessary mutitasking, while for the employee in this approach has the value of learning, investing in it and its development and a sense of progress and development within the company. Through motivation, development and learning, the ultimate goal is certainly progress in business, and motivation and reward in business are the two most important factors for achieving that goal. Of course, each employee, situation, environment and many other variables affect the correct motivation and rewarding of employees and the question arises how to influence them in order to achieve the desired effect. Not every person reacts in the same way to different factors of motivation and reward, and in that part the management of motivation and reward plays an important role, which today has an increasing role and importance within organizations. Through various monetary and non-monetary incentives, it seeks to increase the attractiveness of the organization, be more visible in the labor market and create a positive image of work within it, and thus seeks to attract the highest quality staff to work within the organization. The paper deals with tangible and intangible employee rewards, it tries to show the impact of these factors on employee motivation. Also, the paper defines and describes the most common types of these awards that are used in corporations today.