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प्रश्न
What is meant by financial incentives?
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उत्तर
Financial incentives refer to incentives that are in direct monetary form or measurable in monetary terms and serve to motivate people for better performance. These incentives may be provided on an individual or group basis.
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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.
Give an example of ‘Employee Recognition Programmes’ as a non-financial incentive.
Read the following text and answer the following questions on the basis of the same:
| Rahim was working in an enterprise on daily wages basis. It was difficult for him to fulfil the basic needs of his family. His daughter fell ill. He had no money for his daughter’s treatment. To meet the expenses of her treatment, he participated in a cycle race and won the prize money. The cycle company offered him a permanent pensionable job which he happily accepted. |
- By quoting the lines from the above para identify the needs of Rahim that are satisfied by the offer of Cycle Company. (2)
- Also, explain two other needs of Rahim followed by above that are still to be satisfied. (2)
- Discuss any three process of motivation.
- How is motivation different from leadership.
Give any two characteristics of ‘Organisational Climate’ that influence the behaviour of individuals and act as a non-financial incentive?
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.
Answer the following question.
State 'Job Enrichment' and 'Employee Participation' as non-financial incentives. How do they motivate employees?
Which of the following is a financial incentive
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.
What is the effect of motivation on all the employees of an organisation?
In Saarthak Steel several initiatives have been taken to further improve the motivation levels of employees through designing jobs that include greater variety of work content, providing certain stability about future income and work, providing fringe benefits like housing, medical aid, etc., allotment of shares in line with various incentives. Identify and briefly explain the incentives being given by the organization to the employees.
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 ______.
| Mahamana Enterprises is not only giving salary to its employees but it also offers bonus to them over and above the salary. To further encourage the employees, it announced that it will provide a share in the profits of the company to them. These incentives are helpful in increasing the purchasing power of the employees. |
State four other incentives of the type of incentive discussed in the above para.
