Hey there,
Do you want to know about the various compensations paid to an employee in an organization, the do check out the above presentation. it provides you various financial and non-financial incentives offered by the employer.
2. FINANCIAL INCENTIVES
1. BONUS : SOMETHING ADDITIONAL THAT IS PAID TO THE EMPLOYEES FOR THEIR PERFORMANCE ONCE IN A YEAR. IT IS NOTHING BUT
AN EXTRA MONTH BONUS PAID ON SPECIAL OCCASIONS LIKE DIWALI, RAMZAN OR CHRISTMAS.
2. PERFORMANCE BASED INCENTIVES : THESE ARE THE INCENTIVES THAT ARE PAID TO THE EMPLOYEES BASED ON THEIR
PERFORMANCE. THE BETTER THEY PERFORM, THE BETTER THEY ARE INCENTIVIZED.
3. WELLNESS AND HEALTHCARE INCENTIVES : THESE ARE THE FINANCIAL AIDS PROVIDED TO EMPLOYEES FOR THE MEDICAL
TREATMENT.
4. ESOP’S : THE EMPLOYEES ARE GIVER THE SHARES OF THE COMPANY THEY ARE WORKING IN FOR LESSER THAN THE FACE VALUE. THIS
INCREASES INTEREST TO WORK FOR THE COMPANY AS THEY TAKE PART IN THE DECISION MAKING PROCESS.
5. TEAM BASED INCENTIVES : THE INCENTIVES PAID FOR THE ENTIRE TEAM FOR ACHIEVING THE PRE-DETERMINED GOALS.
3. NON – FINANCIAL INCENTIVES
1. RECOGNITION AND APPRECIATION : RECOGNISING AND APPRECIATING THE EMPLOYEES OF THE ORGANISATION IN FRONT
OF THEIR COLLEAGUES HELPS TO BOOST THEIR INTEREST TOWARDS THE ORGANISATION.
2. FLEXIBLE WORKING ARRANGEMENTS : WORKING IN FLEXIBLE TIMINGS, FACILITIES LIKE SHIFTS, WORK FROM HOME
ETC., WILL ACT AS A MOTIVATOR.
3. PROFESSIONAL DEVELOPMENT : HELPING THE EMPLOYEES TO IMPROVE THEIR PERSONALITY, BY PROVIDING THEM
TRAINING IS ONE OF THE NON-FINANCIAL INCENTIVES.
4. EMPLOYEE FEEDBACK AND INVOLVEMENT : INVOLVING THE EMPLOYEES BY ASKING THEM FEEDBACK OR SUGGESTIONS
REGARDING ANY MAJOR DECISIONS OF THE ORGANISATION HELPS TO MOTIVATE THEM NON FINANCIALLY.
5. WORKPLACE ENVIRONMENT : THE PLACE OF EMPLOYEES WORKING, SHOULD HAVE A BETTER AMBIANCE. LIKE PROPER LIGHTINGS,
FURNITURE ETC.
