It's because the nominal voltage is lower – ie the one that's written on the side. 1.2v for rechargables vs 1.5 for normal.
It's more complicated than this though (although I'm sure TJ will disagree with me) because the voltage at the terminals will vary depending on how much load you apply, and with alkalines this voltage will drop more easily than with rechargables (because the internal resistance is much higher).
So if you connect up an alkaline battery to say a torch, it'll be about the same as a rechargable since you are drawing a lot of current and the voltage of the alkaline will drop to similar to that of the rechargable.
If it's something like a clock, which has a tiny current drain, then an alkaline will have a higher voltage at the terminals.. and the appliance is designed for this.. which is why clocks never seem to work at all with rechargable batteries in my experience.