Non monetary non-financial incentives - compensation management - Manu Melwin...manumelwin
Money is not the only motivator, the employees who have more of esteem and self actualization need active in them get satisfied with the non-monetary incentives only.
The study investigates the effects of incentives on employee’s productivity. The study had the
following objectives: The relationship between incentive and productivity of employee’s in organisations
Non monetary non-financial incentives - compensation management - Manu Melwin...manumelwin
Money is not the only motivator, the employees who have more of esteem and self actualization need active in them get satisfied with the non-monetary incentives only.
The study investigates the effects of incentives on employee’s productivity. The study had the
following objectives: The relationship between incentive and productivity of employee’s in organisations
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Influence Of Technology On Human Resource ManagementNavitha Pereira
Technology has transformed our lives and the way we communicate, how we learn, how we work and spend free time, in essence-it has more or less changed every aspect of human society one can think of. Undoubtedly it also affected organizations' employees and their workplaces in job design, conditions of work and other (numerous) ways. Today’s information technology has shown continuous development. Technology and HRM have a wide range of impact upon each other and therefore human resource professional should be eligible to adopt technologies that allow the re-engineering of the HR action, be prepared to maintain organizationally and work project changes caused by technology, and be able to maintain a proper managerial climate for innovative and knowledge-based organizations. HRM should be focused on the strategic objective and these strategic objectives are preparing information technology strategies to plan to fulfill the human resources strategies plan in the field of technology.
Identify that influence employee behavior
Describe outcomes resulting from behavior and tell how they influence future behavior
State how a supervisor’s leadership and expectations for employees can affect their behavior
Define motivation and describe the main approaches to understanding motivation at work
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Influence Of Technology On Human Resource ManagementNavitha Pereira
Technology has transformed our lives and the way we communicate, how we learn, how we work and spend free time, in essence-it has more or less changed every aspect of human society one can think of. Undoubtedly it also affected organizations' employees and their workplaces in job design, conditions of work and other (numerous) ways. Today’s information technology has shown continuous development. Technology and HRM have a wide range of impact upon each other and therefore human resource professional should be eligible to adopt technologies that allow the re-engineering of the HR action, be prepared to maintain organizationally and work project changes caused by technology, and be able to maintain a proper managerial climate for innovative and knowledge-based organizations. HRM should be focused on the strategic objective and these strategic objectives are preparing information technology strategies to plan to fulfill the human resources strategies plan in the field of technology.
Identify that influence employee behavior
Describe outcomes resulting from behavior and tell how they influence future behavior
State how a supervisor’s leadership and expectations for employees can affect their behavior
Define motivation and describe the main approaches to understanding motivation at work
This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.
Employee motivation isn’t very hard to get right, but, unfortunately, many companies are still stuck in the past.
What truly motivates employees is the opportunity to grow and make a real difference in the world.
Intrinsic Vs. Extrinsic Motivators
There is so much debate on this subject that I want to try and explain it as simply as possible. When people make the argument that extrinsic motivators don’t work, the response will often be about money and a proper paycheck.
It’s true that everyone needs to earn a living. They have to pay the bills.
People also have to feel that they are fairly compensated for the amount of work that they do, this is what’s known as equity theory.
If it’s not an equal exchange, then the focus will be exclusively on that. But once the subject of compensation is taken off the table, what motivates employees long term are intrinsic motivators.
It’s pretty well known that more money doesn’t ever lead to anything effective. What usually ends up happening, is we adjust our lifestyles to account for the increase in money, so it makes no real difference. We’re often still in the same position financially at the end of the day.
What makes people happy is the feeling of pride from accomplishing something amazing
In one study, that Dan Pink talks about in his book Drive, looks at what happens with rewards and kids drawing.
Researchers divided the children into three groups.
The first was the “expected award” group. They showed each child a “Good Player” certificate and asked if the child wanted to draw in order to receive the award.
The second group was the “unexpected award” group. Researchers asked these children simply if they wanted to draw. If they decided to, when the session ended, the researchers handed each child one of the “Good Player” certificates.
The third group was the “no award” group. Researchers asked these children if they wanted to draw, but neither promised nor gave them a certificate at the end.
Children in the “unexpected award” and “no award” groups drew just as much, and with the same enthusiasm as they had before the experiment. But children in the first group showed much less interest and spent much less time drawing.
The prizes had turned play into work.
In another study, two Swedish economists found that offering a small payment in exchange for giving blood decreased the number of people willing to donate by half.
The researchers suggest “the payment tainted an altruistic act and ‘crowded out’ the intrinsic desire to do something good.”
Download our free ebook:
https://www.officevibe.com/resources/10-pillars-employee-engagement
Read the full article on Officevibe's blog:
https://www.officevibe.com/blog/secret-employee-motivation-infographic
Designed by éloïtsmi
https://www.behance.net/eloitsmi
Employee engagement adds value to any organization. It can make a difference to the individual employee as well as the business as a whole. HR has a significant role in promoting the linkages between the company’s leadership, objectives, and employees. In these slides, we discuss HR’s role in employee engagement.
Medical Institution’s Staff Motivation through Satisfying Their Needsinventionjournals
In the context of the external marketing for staff, the primary goal is that the hospital attracts the interest of potential new employees on the competitive market. For that purpose an employer’s own individual brand, if possible, should be created. The desired positive effect may be achieved by contemporary marketing tools attractive for the target group. In the process of staff recruitment, due to the lack of candidates, the requirements for the new jobs are often degraded. The less choice however does not mean that no selection is to be made. When a new employee is interested in and has chosen a given organisation it is of great significance to achieve integration during the period of induction. This includes the professional as well as the personal and social integration. Clearly expressed efforts in the sensitive induction period are a key precondition for the long-term emotional connection between any (new) employee and the organisation. Also with the individual support in the context of staff development it is possible to attract new employees and to retain the existing ones. Another aspect is the respectful situational or flexible management of employees to which the modern management and the human resources management shall actively devote to. The survey was conducted among 100 medical specialists and administrative employees in the period January – December 2016 at the Medical Complex Doverie, Sofia City, Bulgaria.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2. INTRODUCTION
RESEARCH PROBLEM
RESEARCH OBJECTIVES
RESEARCH METHODOLOGY
ANALYSIS
FINDINGS
RECOMMENDATION
2
3. In any organisation employee motivation is the key factor for
organizational performance. Companies are spending huge
amounts of money on their reward programs which aim to
motivate, retain, commit and attract new employees but fails
to motivate the employees. The research is conducted to
measure the impact of non financial rewards on employees
motivation.
3
4. Motivation is the word derived from the word ’motive’
which means needs, desires, wants or drives within the
individuals. It is the process of stimulating people to
actions to accomplish the goals. Motivation is defined as
the process that initiates, guides, and maintains goal-
oriented behaviour.
In the work goal context the psychological factors
stimulating the people’s behaviour can be
Desire for money
Success
Recognition
Job-satisfaction
Team work, etc
SOURCE- http://study.com/academy/lesson/what-is-motivation-in-
management-definition-process-types.html
4
5. "The term motivation refers to factors that activate, direct, and
sustain goal-directed behaviour... Motives are the "whys" of
behaviour - the needs or wants that drive behaviour and
explain what we do. We don't actually observe a motive;
rather, we infer that one exists based on the behaviour we
observe." ( Nevid, 2013)
5
6. The motivational factors that motivate a person to work and which can be
used to enhance their performance can be classified into two categories:
Financial Motivators
Non-Financial Motivators
SOURCE-
(http://www.yourarticlelibrary.com/hrm/incentives/incentivestypesfinanciala
ndnonfinancialincentivesexplained/35360/ 8/)
6
7. Any benefit an employee receives from an employer or job
that is above and beyond the compensation package (salary,
insurance, etc) for the specific purpose of attracting to the
company as well as retaining and motivating the employees.
The non financial motivators include:-
Job Enrichment
Job enlargement
Communication
Workers participation in management decision
Training
7
8. Low costs;
It has a stronger effect and remains longer embedded in the mind of the
employee as it appeals in it's emotional state;
Can be applied to a longer period of time;
If it's interrupted it doesn't generate resentments among those targeted;
Promotes membership in that team;
Raises the employee's fidelity for the organization
8
9. To better understand employees attitudes and motivation, In
1959, Frederick Herzberg, a behavioural scientist proposed a
two-factor theory or the motivator-hygiene theory.
According to Herzberg, there are some job factors that result in
satisfaction while there are other job factors that prevent
dissatisfaction. According to Herzberg, the opposite of
“Satisfaction” is “No satisfaction” and the opposite of
“Dissatisfaction” is “No Dissatisfaction”.
SOURCE- http://psychology.about.com/od/mindex/g/motivation-
definition.html
9
11. The Two-Factor theory implies that the managers must stress
upon guaranteeing the adequacy of the hygiene factors to
avoid employee dissatisfaction.
Also, the managers must make sure that the work is
stimulating and rewarding so that the employees are motivated
to work and perform harder and better.
This theory emphasize upon job-enrichment so as to motivate
the employees. The job must utilize the employee’s skills and
competencies to the maximum. Focusing on the motivational
factors can improve work-quality.
11
12. The two-factor theory overlooks situational variables.
Herzberg assumed a correlation between satisfaction and productivity. But
the research conducted by Herzberg stressed upon satisfaction and ignored
productivity.
The theory’s reliability is uncertain. Analysis has to be made by the raters.
The raters may spoil the findings by analyzing same response in different
manner.
No comprehensive measure of satisfaction was used. An employee may
find his job acceptable despite the fact that he may hate/object part of his
job.
The two factor theory is not free from bias as it is based on the natural
reaction of employees when they are enquired the sources of satisfaction
and dissatisfaction at work.
12
13. This research is conducted to know how Organizations
are using non-monetary rewards to motivate their
employees.
Is non monetary rewards helps to improve employees
motivation.
13
14. The objective of our study is to find out for the company that
whether non financial rewards are motivating the youth
employees and measuring the impact on employees.
14
15. The hypothesis of the study are-
H1: Better training opportunities leads to higher level of
motivation.
H2: Job enlargement has positive effect on employees
motivation.
H3: Providing fair recognition on performance to the
employees motivate the employees.
H4: Communication with employees guides in decision
making.
H5:Motivation factors has more impact on employees
performance than hygiene factors.
15
16. GEOGRAPHICAL AREA
The study covers the area of BIHAR and JHARKHAND.
RESEARCH DESIGN
Exploratory and descriptive
SAMPLING TECHNIQUE
Convenience sampling
16
18. PRIMARY DATA
Primary data is collected through Questionnaires from different
employees and telephonic interview with various employees
working in different sectors.
SECONDARY DATA
Secondary data is collected through different sites available on
the internet and we have also referred to various journals,
newspapers and magazine.
18
31. 45% employees are motivated more through non-financial
incentives.
Training as a non financial tool has less effect than financial
tools.
100% employees liked to be recognized at the work place and
it has positive relation with employee motivation.
Only 10% employees does not have positive effect of non
financial rewards on performance.
Opportunity to achieve and advancement has negative
correlation(-0.198) with security and company policy and
administration.
Other motivating factors are positively co-related with
employees performance.
31
32. Given the context and results of this study, it is safe to
say that there is a place for non-financial rewards.
It is recommended that organizations continually
review their reward practices to ensure alignment with
the potential impact of changes in the macro
environment and to make allowance for different
requirements based on the demographic factors of their
employees.
The fact that most of the employees differed in their
opinions , some rewards may not satisfy them
therefore, an employer should diversify their rewards to
include the different demographics of his employees .
32
33. Non financial factors (Rewards) motivate the employee
performance and increase productivity of organisation.
Herzberg motivation theory has high impact on the employees
motivation.
Non financial rewards has equal importance as that of
financial rewards.
33
