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TO STUDY THE IMPORTANCE OF MONETARY AND NON-MONETARY INCENTIVES FOR MANAGERS IN TATA INDICOM (Term Paper towards the fulfillment of the assessment in the subject of Principle of Management)
NATIONAL LAW UNIVERSITY,JODHPUR
Submitted to :Dr. Archi Mathur Faculty of Management National Law University, Jodhpur
Submitted By:Pankaj Rathi BBA LLB(Hons) RollNo-.869 Semester- 1st
S.no Particulars * * * 1. 2. 3. 4. 5. 6. 7. 8. 9. * * * Executive Summary Objectives Research Methodology Introduction-Monetary and Non-monetary incentives Types of incentives Company profile – Tata Indicom Core values of Tata Tata Indicome – product profile Data tabulation Analysis Conclusions Recommendations Limitations Annexures Bibliography Page 3 4 5 6 9 10 11 14 15 25 27 28 29 30 34
In spite of theoretical knowledge gained through classroom study, a person is Incomplete if not subjected to practical exposure of real corporate world and the challenges and problems that one has to face at the actual work place.In this context the study has been taken to make the person aware of happening of the real business world. The project entitled „TO STUDY THE IMPORTANCE OF MONETARY AND NONMONETARY INCENTIVES FOR MANAGERS‟ with the special reference to TATA INDICOM LIMITED has been done in JODHPUR as a PROJECT WORK of BBA program and it helped me in understanding the impact of incentives in the performance of managers as well as that of organisation . It also gave me a chance to have an interaction with people at real workplace who are working at different positions with different authorities and responsibilities.The generosity & the patience of these people for spending their valuable time for having discussions and interactions has also been a rich experience for me. The study was made to formulate a manual by collecting relevant information about the contents with the help of Questionnaire survey and face to face interaction with the MANAGERS of TATA INDICOM as well from the valuable information & suggestions provided by the members of TI itself (people from different departments and the sales force members). Secondary data was collected from the other manuals provided by the HR department and website of the company. The final outcome of the study is various schemes of rewards and recognitions for staff and officers of TATA INDICOM, which will help them in getting motivated and improvising their performances at work place.
. To identify the impact of the above mentioned incentives on managers productivity.4 OBJECTIVES OF THE STUDY The objectives of this study are as follows: To ascertain the extent of managers attitude towards monetary and nonmonetary incentives in the course of their work. To identify and analyses various incentives that can be offered to satisfy the needs of managers. To priorities the incentives as per managers‘ likening in the work place.
Secondary data has been taken from internet. After giving through brain storming session. objectives were selected and the set on the base of these objectives. That was the reason that at most care was taken while defining various parameters of the problem. magazines and companies web sites. The primary data is collected through questionnaire. Primary data is the first hand data. RESEARCH APPROACH The research approach is used survey method which is a widely used method for data collection and best suited for descriptive type of research survey includes research instrument like questionnaire which can be structured and unstructured. A questionnaire was designed major emphasis of which was gathering new ideas or insight so as to determine and bind out solution to the problems. Choose for investigation because a problem well defined is halfsolved.5 RESEARCH METHODOLOGY It is well known fact that the most important step in research process is to define the problem. Secondary data are those which has been collected by someone else and which already have been passed through statistical process. . which are selected a fresh and thus happen to be original in character. DATA SOURCE Research included gathering both Primary and Secondary data. DATA COMPLETION AND ANALYSIS After the data has been collected. newspaper. it was tabulated and findings of the project are presented followed by analysis and interpretation to reach certain conclusions.
This will include job satisfaction. Therefore. job security. 2. It is a natural thing that nobody acts without a purpose behind. and human resources. Incentives provide a spur or zeal in the employees for better performance. 5. To shape the behavior or outlook of subordinate towards work. and pride for accomplishment. a hope for a reward is a powerful incentive to motivate employees. To be successful employee's satisfaction is very much important for the organizations growth and to satisfy the employees‟ needs incentives are must . Therefore. various wage plans and bonus schemes are introduced to motivate and stimulate the people to work. The need of incentives can be many:1. Monetary incentives can be of following types: . a way of marketing whatever products or services that are created. It is also called as a stimulus to greater action. there are some other stimuli which can drive a person to better. job promotion. Monetary incentives.6 MONETARY AND NON-MONETARY INCENTIVES In an organization many things are required to be in order of effective: a method for producing a product or service. But what does incentive mean ? we should understand it first. Therefore. To drive or arouse a stimulus work. incentives really can sometimes work to accomplish the goals of a concern. To increase productivity. To psychologically satisfy a person which leads to job satisfaction. Therefore. To inculcate zeal and enthusiasm towards work. Besides monetary incentive. Incentive is an act or promise for greater action. Incentives are something which are given in addition to wagers. financial resources. 4.Those incentives which satisfy the subordinates by providing them rewards in terms of rupees. money not only satisfies psychological needs but also the security and social needs. Money is also helpful to satisfy the social needs by possessing various material items. in many factories. 6. To get the maximum of their capabilities so that they are exploited and utilized maximally. To enhance commitment in work performance. Therefore. It means additional remuneration or benefit to an employee in recognition of achievement or better work. management has to offer the following two categories of incentives to motivate employees:1. 3. Human resources play a crucial and vital role in the development of the organization. Money has been recognized as a chief source of satisfying the needs of people. 7. the only factor that represents a potential competitive advantage is "human resources and how these resources are managed and utilized". While all these are important for organizational effectiveness.
Benefits in kind (“fringe benefits”) – very common in businesses of all kinds. Non-monetary incentives. bonuses for achieving targets g. Pensions – becoming less common and generous. c.financial incentive which satisfies the ego needs of the employees.Besides the monetary incentives. d.g.7 a. Accountant.monetary incentives‖. Time-rate pay: pay based on time worked. he will put maximum efforts to achieve the objectives of the enterprise.financial incentives can be of the following types:- a. Commission: payment based on the value of sales achieved. Praise or recognition.actualization needs of employees. but popular in businesses whose shares are traded on stock markets i. 2. Sometimes praise becomes more effective than any other incentive. Piece-rate pay: pay per item produced – becoming less common e. Payroll Manager) b. Whenever a manager has to satisfy the psychological needs of the subordinates.g. contributions to travel costs.Job security is an incentive which provides great motivation to employees. Small businesses tend not to offer pension benefits. Shares and options: less common in small businesses. these are common for most managerial positions (e. there are certain nonfinancial incentives which can satisfy the ego and self. staff uniforms etc. these include staff discounts. Salaries: fixed amounts per month or year for performing a role. The incentives which cannot be measured in terms of money are under the category of ―Non. b. If his job is secured. Security of service.The praise or recognition is another non. very common in small businesses where employees are paid per hour. This also helps since he is very far off from mental tension and he can give his best to the enterprise. Non. The employees will respond more to praise and try to give the best of their abilities to a concern. f. . Other performance-related pay: e. he makes use of non-financial incentives.
increasing the content and nature of the work. This also helps in the greatest motivation of the efficient employees. .monetary incentive in which the job of a worker can be enriched.financial tools can be framed effectively by giving due concentration to the role of employees. This ultimately helps in growing a concern and adapting new methods of operations. Promotion opportunities. This also is helpful to motivate the employees to feel important and they can also be in search for innovative methods which can be applied for better work methods. d. they feel satisfied and contented and they become more committed to the organization.The organization should look forward to taking suggestions and inviting suggestion schemes from the subordinates. This can be done by increasing his responsibilities. e. This can be done by publishing various articles written by employees to improve the work environment which can be published in various magazines of the company.Promotion is an effective tool to increase the spirit to work in a concern. Job enrichment. This way efficient worker can get challenging jobs in which they can prove their worth. This inculcates a spirit of participation in the employees. A combination of financial and nonfinancial incentives help together in bringing motivation and zeal to work in a concern. Suggestion scheme.8 c. The above non.Job enrichment is another non. giving him an important designation. If the employees are provided opportunities for the advancement and growth.
9 Job Enrichment Suggestion System Security Of Service Non Monetary Incentives Praise Recognisation Promotion Opportunity Commission Pensions Share and Option Performance Related Pay Salaries Price Rate Pay Fringe Benefit Monetary Incentives Time Rate Pay .
Tata (Chairman) Srinath Narasimhan (MD) Wireless Telephone Internet Television Tata Group Tata Indicom (CDMA) Tata DoCoMo (GSM) Virgin Mobile India (CDMA/GSM) Tatateleservices.com Key people Products Parent Divisions Website . Ratan N.10 COMPANY PROFILE TATA INDICOM Type Industry Founded Founder(s) Headquarters Private Telecommunications 1996 Ratan Tata Mumbai. India Mr.
We do this through leadership in sectors of national economic significance. Our heritage of returning to society what we earn evokes trust among consumers. The TATA name is a unique asset representing leadership with trust. compassion and humanity for our colleagues and customers around the world. Understanding: We must be caring. Leveraging this asset to enhance Group synergy and becoming globally competitive is the route to sustained growth and long-term success. always ensuring that what comes from the people goes back to the people many times over. These values continue to direct the Group‘s growth and businesses. This requires us to grow aggressively in focused areas of business. Unity: We must work cohesively with our colleagues across the Group and with our customers and partners around the world. sensitive to the countries. . to which the Group brings a unique set of capabilities. The five core TATA values underpinning the way we do business are: Integrity: We must conduct our business fairly. communities and environments in which we work. Responsibility: We must continue to be responsible.11 CORE VALUES OF TATA PURPOSE : At the TATA Group ― our purpose is to improve the quality of life of the communities we serve. building strong relationships based on tolerance. employees. and always work for the benefit of the communities we serve. This heritage is being continuously enriched by the formalization of the high standards of behaviour expected from employees and companies‖. FIVE CORE VALUES The TATA Group has always sought to be a value-driven organization. show respect. Excellence: We must constantly strive to achieve the highest possible standards in our dayto-day work and in the quality of the goods and services we provide. understanding and mutual cooperation. Everything we do must stand the test of public scrutiny. with honesty and transparency. shareholders and the community.
TATA DOCOMO has received a pan-India license to operate GSM telecom services—and has also been allotted spectrum in 18 telecom Circles.12 TATA INDICOM – PROFILE • Brand Name: TATA Indicom • Network: CDMA 2000-1x • Network Coverage: 20 Telecom circles • Subscriber base: > 2 million • Market Share: 8 -10% • Subscriptions: Post Paid. ESTABLISHMENT: Incorporated in 1996. The company is also the market leader in the fixed wireless telephony market. internet facility Tata Teleservices Limited spearheads the Tata Group's presence in the telecom sector. and offers differentiated products and services under the TATA DOCOMO brand name.com (India) Ltd [renamed Tata Teleservices (Maharashtra) Limited] by the Tata Group in 2002. over 363. Pre Paid . It has embarked on a growth path since the acquisition of Hughes Tele. It launched mobile operations in January 2005 under the brand name Tata Indicom and today enjoys a pan-India presence through existing operations in all of India's 22 telecom Circles. it is headquartered in Mumbai.039 employees worldwide and more than 3. The company has rolled out GSM services in .5 million shareholders. The Tata Group had revenues of around USD 70. through its joint venture with NTT DOCOMO of Japan. The company's network has been rated as the 'Least Congested' in India for five consecutive quarters by the Telecom Regulatory Authority of India through independent surveys. TATA DOCOMO arises out of the Tata Group's strategic alliance with Japanese telecom major NTT DOCOMO in November 2008. Tata Teleservices is the pioneer of the CDMA 1x technology platform in India.8 billion in Financial Year 2008-09. and includes over 90 companies. JOINT VENTURE: Tata Teleservices Limited now also has a presence in the GSM space.
wireless desktop phones. Today. Tata Teleservices Ltd. Public Booth Telephony and Wireline Services. public booth telephony. Today.net. TATA DOCOMO marks a significant milestone in the Indian telecom landscape. Best Company.13 17 of India's 22 telecom Circles in less than a year and the company plans to launch pan-India operations by the end of FY 2010-11. thereby becoming the largest independent entity in this space—and with the highest tenancy ratios in the industry.000 towns and villages across the country. and has already redefined the very face of telecom in India. CEO of the Year and Best Quality of Service. TTSL was named The Best Emerging Markets Carrier by Telecom Asia.000 towers. EMERGING MARKET PLAYER: Over the last few months.000 towers. TTSL's bouquet of telephony services includes mobile services. and Quippo Telecom Infrastructure Limited—with the combined entity kicking off operations with 18. wireline services and enterprise solutions. along with Tata Teleservices (Maharashtra) Ltd. The company also received 3 awards at the Telecom Operator Awards 2010 from Tele. In December 2008. and Business Standard award for 'Most Innovative Brand of the Year'. serves nearly 70 million customers in more than 450. the combined entity has a portfolio of nearly 35. including 5th Best Employer in India. Tata Teleservices' industry-best and innovative offerings have gained industry-wide recognition and the Year 2010 saw TTSL add many notable accolades to its name. being the first to pioneer the per-second tariff option—part of its 'Pay for What You Use' pricing paradigm. . Tata Teleservices announced a unique reverse equity swap strategic agreement between its telecom tower subsidiary. Tokyo-based NTT DOCOMO is one of the world's leading mobile operators—in the Japanese market. Wireless TT Info-Services Limited. the company is the clear market leader. and received 8 awards at the World HRD Conference. Wireless Desktop Phones. used by over 50 per cent of the country's mobile phone users. with a bouquet of telephony services encompassing Mobile Services.
14 TATA INDICOM – PRODUCT PROFILE .
15 DATA TABULATION Q.1 Are you satisfied with your present job ? Satisfaction to Job 30% Yes No 70% .
3 How did you get into present position ? To get into present positon by Direct Appointment.16 Q. 100% Yes No .4 Do you have incentive scheme in your organisation ? INCENTIVE SCHEME IN ORGANISATION Yes. 50% Transfer. 30% Promotion Transfer Direct Appointment Q. 20% Promotion.
100% Yes No Q.17 Q.7 Which particular form of incentives you feel better ? Type of Incentives Non-Monetary 40% Monetary Non-Monetary Monetary 60% .6 Do you think incentives are necessary for managers‘ good performance ? Yes.
18 Q.8 What motivate you to work happily and efficiently ? (Give rank ) Attributes Good Pay Promotion Less Supervision Good Working Condition 1st 4 1 2 3 2nd 2 5 2 1 3rd 1 4 2 3 4th 3 4 3 12 10 3 4 1 3 2 4 2 4 4th rank 3rd rank 3 8 6 2nd rank 1st rank 5 2 2 1 4 3 2 1 Good pay Promotion Less supervision Good working condition 0 .
Highly Satisfied . 60% Highly Satisfied Satisfied Not Satisfied .in the Tata Indicom Not Satisfied 20% Satisfied.10 Give your opinion about Financial assistance to loans.Bonus etc.9 Do you feel that salary being offered at Tata Indicom is sufficient to lead a Satisfied life ? 20% Yes 50% No Can't say 30% Q.19 Q. 20% .
20 Q.11 Which type of monetary incentives motivate you more? (Give rank in order of priorities [1-6 ] Attributes Pay & Allowance Profit Sharing Bonus Commission Retirement Benefit Productivity linked with salary 1st 4 1 2 1 1 1 2nd 3 4 1 1 1 3rd 2 3 2 2 1 4th 2 1 2 3 2 5th 1 3 2 2 2 6th 1 1 2 3 3 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 1 2 1 1 2 1 3 2 2 2 6th rank 5th rank 4th rank 3 3 2 3 2 4 3 2 3 4 1 2 1 Pay / Profit Sharing Allowance Bonus 1 Commission 1 Retirement Benefits 1 Productivity linked with salary incentives 1 1 2 2 1 3rd rank 2nd rank 1st rank .
21 Q. Of respondent Status Organisation structure Career advancement Challenging job Employees recognition Job security Employees participation Employees empowermnet 1 2 3 1 1 2 - 1 1 1 1 1 3 1 1 2 4 1 1 1 1 1 1 2 1 1 2 2 - 1 1 2 2 2 2 2 1 1 2 3 1 3 1 3 3 1 1 2 3 1 2 10 9 1 1 2 1 2 3 2 1 2 8 7 6 5 4 3 2 1 0 3 1 2 1 4 1 1 2 2 2 1 1 3 2 1 1 1 1 1 1 2 1 3 3 1 3 3 8th rank 7th rank 2 1 6th rank 5th rank 2 2 2 1 1 1 1 4th rank 3rd rank 1 1 1 1 2nd rank 1st rank .12 Which type of non-monetary incentives you think better for you ? (Give rank [1-8] ) 1st 2nd 3rd 4th 5th 6th 7th 8th Attributes No.
10% Yes No Yes. 30% Yes No . 70% No. 90% 2.13 Does incentive serve these goals ? 1. Staff Retention STAFF RENTENTION Yes. Managers satisfaction MANAGERS SATISFACTION No.22 Q.
80% No 4. 70% . 30% Yes No Yes.23 3. 20% Yes Yes. Performance Improvement PERFORMANE IMPROVEMENT No. Acheivement of Business Goal ACHEIVEMENT OF BUSINESS GOAL No.
Feeling of Belongingness among Managers FEELING OF BELONGINGNESS 20% Yes No Yes. 80% .24 5.
Within the company the main sources were the information provided by mangers of various departments . 7. good working . which are as follows: 1.it might hamper organisation growth.25 ANALYSIS This project is totally based on the information collected within the company. fringe benefit is another factor that may influence employees performances. There is a slightly balance between the choice of monetary and non-monetary incentives. Most of the managers are satisfied with their present job but still some managers about 30% are not fully satisfied with their job. Out of 10 managers 6 managers think monetary incentives as better & on the other hand 4 managers preferred non-monetary rewards as better incentives. 10. 5. Out of 10 managers 3 managers gave first preference to career advancement and 2 managers chose job security as best incentive. the payment in form of salaries.bonus and allowances will also motivate managers attitudes towards work. more so. Questionnaire was filled up by 10 managers of the Tata Indicom. 8. In non-monetary incentives Career advancement and Job security are two major influencing factor. it is also found that the managers that were well paid will increase in their performances. Branch office – Jodhpur & of some other branches. From the data analyzed. 6. About 50% managers got their present position by Promotion which shows that incentives are playing vital role in company‘s performance. 2. an organization may reduce cost and as well increases productivity. 9. It is also find that the non-monetary incentives such as training and development in an organization have positive influences on managers performances. Financial assistance provided by Tata Indicom to its managers is quite satisfactory. 3. Profit sharing also emerged as one of the crucial factor in motivating managers to perform better. 4. Hence on that basis only some analysis can be done. through training. Only 50% of managers are satisfied with the salary provided which could be a major concern for the organisation as it is an important factor in motivating the employees. All the mangers are in favour of incentives for better performance.
These incentives will develop feeling of belongingness among managers and can be a crucial factor in reducing the employees turnover. lastly the managers prefer monetary incentives to nonmonetary incentives. 13. employee welfare. When managers were asked to give one essential reason to continue to work for Tata Indicom then good salary and better working conditions came as reasons but at the same time some managers were also ready to quit the organisation if they would find any better salary package. Most of the managers feel that if proper incentives are provided it will not only improve managers‘ productivity but also helps the organisation in achievement of business goal. However at the same time it also came into picture that managers are not inclined towards finding of challenging job.It can be detrimental for the organisation. The study find that any promoted managers will increase his/her efforts and performances in work place and employee performance appraisal influences employees performance. 12. 11. medical facilities also facilitates effective performances. pension.26 conditions in an organization will also improve managers performances. .
Hence. low output. at the same time it is also found that one of the most important reason to be not satisfied with the present job by managers is in want of better salary. promotion. good working conditions. Hence what is to be understood is that Like a child being given a chocolate cupcake and a big hug after cleaning her room. Lack of training increases absenteeism rate. higher morale and better co-ordination and training helps to reduce cost as it increases productivity. staff welfare. lower labour turn over rate. rewards and recognition can be powerful tools for employee motivation and performance improvement. Throughout the research and drafting of this term paper. medical facilities facilitates increases in employees‘ performances and employee‘ prefer monetary incentives to non-monetary incentives. poor quality and rejects and results in high unit cost. fringe benefit and good pay motivate workers‘ performance most. pension. the study there by conclude that there is clear relationship between monetary incentives and workers performance. Proper training is an another important aspect which the managers feel as a crucial factor in increasing the productivity of employees. the author has come across huge volume of material on the importance of monetary and non-monetary incentives. scheme. promotes goal congruency.27 CONCLUSION The Term Paper was a sincere attempt in the direction of understanding and evaluating the motivation activities as undertaken by Tata Indicom. For Non-monetary incentives. good supervision. In view of these findings. . Some of the main objectives of training employee include. increase in productivity. the term paper is concluded.
non-monetary incentives. the result is decrease productivity. increases in salary bonus etc. and the higher level management should ensure effective performance appraisal. Therefore. Therefore.28 RECOMMENDETION In any organization. promotion. managers need adequate training to carry out their duties and managers that were promoted as well due will be motivated to increase its performances. . incentives are a very sensitive issue not only to employer but also to the employees. the ability of the organization to attract and retain employees depend on how much monetary and non-monetary incentives. this should be done without any fair of favour and bias mind. Poor wages and salaries as well as poor working conditions is a constant source of frustration to managers. This is important because manager’s satisfaction can motivate high performance. More so. such as training. it is prepared to offer. better pay fringe benefit and other social incentives are essential factor that motivate the employees to increase productivity. whenever managers‘ rating is being conducted. Promotion. it is thereby recommend that Tata Indicom should strive to introduce a satisfactory incentives package to the managers. organization should strive towards equity in the administration of monetary and non-monetary incentives. Non-monetary incentives should be tailored in line with monetary incentives in order to motivate managers to put in their best and at the same time. effective performance appraisal should be encouraged.
In some cases. a few problems were faced which are mentioned below. respondents just filled the questionnaire hastily without giving proper thoughts to the questions to save their time. Thus proper corroborative research is required before taking any action based on the findings of the present study. 1) The data collected on the field considers a small sample only.29 LIMITATION OF THE STUDY While doing this project. Also a major part of the required information was not available due to a nondisclosure internal policy. information provided might be biased. 2) 3) . therefore.
4 Do you have incentive scheme in your organisation ? Yes [ ] No [ ] .2 Since when you are holding this job ? ________________________ Q. So I would need your help to know a few things about your company regarding this topic.30 ANNUXRE QUESTIONNAIRE: NAME: DESIGNATION: NAME OF THE COMPANY: Sir.3 How did you get into present position ? Promotion [ ] Transfer [ ] Direct Appointment [ ] If by Promotion then after how many years did you get it ? _____________________________________ Q. target category are the officers and the staff MANAGERS within the branch. I am working on a project IMPORTANCE OF MONETARY AND NON-MONETARY INCENTIVES FOR MANAGERS. Madam. LL.A.1 Are you satisfied with your present job ? Yes [ ] No [ ] Q. Q. These schemes will be a great help to make their jobs more interesting and motivate them to perform better. I am 1st year student pursuing B.JODHPUR.B.B in NATIONAL LAW UNIVERSITY. My aim is to prepare some rewards and recognition schemes for these employees as their jobs are monotonous and they do not receive any rewards and recognitions for their contribution.
7 [ ] No [ ] Which particular form of incentives you feel better ? Monetary [ ] Non-Monetary [ ] Q.31 Q.Bonus etc. _______________________________ 2.6 Do you think incentives are necessary for managers‘ good performance ? Yes Q.in the Tata Indicom Highly Satisfied [ Not Satisfied [ ] ] Satisfied [ ] Q.9 Do you feel that salary being offered at Tata Indicom is sufficient to lead a Satisfied life ? Yes [ ] No [ ] No Comment [ ] Q.5 What are the various incentives scheme in your organisation ? Write any 3 scheme which you can rembember ? 1.11 Which type of monetary incentives motivate you more? (Give rank in order of priorities [1-6 ] 1. 2.8 What motivate you to work happily and efficiently ? (Give rank ) Good pay Less supervision [ [ ] ] Promotion Good working condition [ [ ] ] Q. ________________________________ Q. 3.10 Give your opinion about Financial assistance to loans. Pay / Allowance Profit Sharing Bonus Commission Retirement Benefits Productivity linked with Salary incentives [ ] [ [ [ [ [ ] ] ] ] ] . ________________________________ 3. 5. 4. 6.
3. _________________________________ _________________________________ _________________________________ _________________________________ . Job security 7.12 1. Q. 4.14 What is the most important reason that make you to continue to work for Tata Indicom ? _____________________________________________________________________ _____________________________________________________________________ Q. Employees participation 8.15 If you know any incentives scheme other than written in questionnaire which you think can be good for improving performance . Employees recognization 6. 2. Employees empower [ [ [ [ ] ] ] ] Does incentive serve these goals ? Yes No ] ] ] ] ] [ [ [ [ [ ] ] ] ] ] 1. 5. Managers satisfaction Staff Retention Performance Improvement Acheivement of Business Goal Feeling of Belongingness among Managers [ [ [ [ [ Q. 2.32 Q.13 Which type of non-monetary incentives you think better for you ? (Give rank [1-8] ) Status Organisation climate Career advancement Challenging job [ [ [ [ ] ] ] ] 5. 1. 3. 4. 4. 3. 2.
33 Q.16 Any suggestion would you like to give regarding monetary and non-monetary incentives ? _____________________________________________________________________ _____________________________________________________________________ Thank you .
34 BIBLIOGRAPHY BOOKS REFFERED NCERT 12th CLASS – BUSINESS STUDIES (Part I) BUSINESS STUDIES BY POONAM GANDHI ‗MANAGEMENT TODAY.PRINCIPLES.scribd.PRATICES‘ .//www.com/rewards-and-recognition-schemes-for-staff-andofficers-of-hll-hindustan-lever-limited-by-monika-tikoo-hr-pdf-d94334739 http://www.managementstudyguide.com/motivation_incentives.BURTON GENE AND THAKUR MANAB WEBSITES REFFERED www.tataindicom.com http.com/doc/6521964/summer-training-report-on-bajaj-vshero-honda http://ebookbrowse.htm .
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