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प्रश्न
A reputed hostel, GyanPradan provides medical aid and free education to children of its employees. Which incentive is being highlighted here? State its category and name any two more incentives of the same category.
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उत्तर
GyanPradhan is offering a financial incentive of fringe benefits.It includes housing, medical aid, education to the children over and above the salary.
Other examples of nonfinancial incentives are:
a. Co partnership-The employees are offered companies share at a price lower than the market price. The management may also allot a share in line of various incentive payable in cash. This would create a feeling of ownership in the employee and make them contribute to the organization's growth.
b. Retirement benefits-It includes pension, gratuity fund, retirement provident fund. It provides security for retirement as well as serves as an incentive for the time they have spent working in the organisation.
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संबंधित प्रश्न
Answer the following question:
Ram Murthy, the CEO of ‘Goodcare Hospitals’, a leading chain of hospitals, decided to reward the good work of the doctors of his organisation. For this, he instituted two running trophies. A ‘Healthcare Achievers Trophy’ to acknowledge and appreciate the tireless efforts of the doctors who rendered selfless services to the patients and another ‘Beti Bachao Trophy’ to recognise the outstanding work done by the doctors in saving the girl child.
The CEO also wanted to improve the health services in rural areas all over the country. He decided that all doctors must work in rural areas for at least six months. He also decided that the paramedical staff should be employed locally.
(1) Identify the incentive provided by ‘Goodcare Hospitals’ to its doctors through running trophies
(2) Which needs of the doctors will be satisfied through the incentive identified in part (a)? State.
(3) State any two values that the CEO of ‘Goodcare Hospitals’ is trying to communicate to society.
Explain different financial incentives used to motivate employees of a company.
Read the following text and answer the following question on the basis of the same:
Mr. Sunil Diali is a safety officer in a reputed PSU sector ECL. He supervises the workers towards the predetermined goals of the organisation and directs how to eradicate unsafe practices of inundation, fire breakouts, existence of inflammable gases, etc. On one such instances there was huge fire breakout in the underground mines and the workers morale was down and demotivated because of several risk hazards. Mr. Diali observed the whole situation and consulted with all his workers and constantly monitored, guided and inspired them to integrate their efforts and accept the situation as a challenge and take adequate safety measures for fire extinguish and subsidizing its effects. Thereby, production turnover was outstanding and outperformed other subsidiaries. Mr. Diali was recognized with Bravery Award from CIL.
Bravery award is ______ form of nonfinancial incentive.
CPA Services CEO, Abhishek Nigam' s compensation includes salary, commission and other allowances. The company also pays for his insurance and vacations. Identify one indirect payment being made by the company to the CEO
What is meant by financial incentives?
State any two financial incentives.
Gitanjali Makan is a successful business leader. She believes that if jobs are made interesting by including greater variety of work content and providing a meaningful work experience, the jobs themselves become a source of motivation to individuals.
The non-financial incentive that has been discussed in the above case is ______.
Which category includes incentives that are directly associated with money?
Which category includes incentives that satisfy psychological and social needs, not directly monetary?
Which financial incentive is a payment over and above the regular wage/salary?
Provident fund, pension, and gratuity are benefits included under which financial incentive?
Company car, furnished house, and medical facilities provided over and above salary are called:
What is the overall work environment and culture that affects employee motivation called?
Which non-financial incentive assures continued employment, reducing anxiety and increasing focus?
Involving employees in decision-making processes is known as:
Giving employees greater authority and responsibility to take decisions is called:
Which needs are addressed by Financial Incentives?
