Question

Explain any four non-financial incentives.

Answer 1

1. Status: In the organisational context, status refers to the ranking of positions within the organisation. The authority, responsibility, rewards, recognition, perquisites and prestige of a job indicate the status given to a person holding a managerial position. Psychological, social, and esteem needs of an individual are satisfied by the status associated with their job.
2. Organisational Climate: Organisational climate refers to the characteristics that describe an organisation and distinguish one organisation from another. These characteristics influence the behaviour of individuals in the organisation. Some of these characteristics are: individual autonomy, reward orientation, consideration for employees, risk-taking, etc. If managers take positive measures regarding these aspects, it helps to develop a better organisational climate.
3. Career Advancement Opportunity: Every individual wants to grow to a higher level in the organisation. Managers should provide employees with opportunities to improve their skills and be promoted to higher-level jobs. Appropriate skill development programmes and a sound promotion policy will help employees to achieve promotions. Promotion serves as a tonic and encourages employees to perform better.
4. Job Enrichment: Job enrichment is concerned with designing jobs that include a greater variety of work content, require a higher level of knowledge and skill, give workers more autonomy and responsibility, and provide the opportunity for personal growth and a meaningful work experience. If jobs are enriched and made interesting, the job itself becomes a source of motivation to the individual.