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Financial & Non- Financial ((I) Financial Motivators (two types ((A)…
Financial & Non- Financial
motivate people work,
management uses
several motivators
include people
to work hard
striving towards
organisational goals.
money plays
important role
motivating employees,
money not
only motivator.
(I) Financial Motivators
Money basic
motivator all
employees as
all primary
needs to
be meet
only with money.
two types
(A) Individual Financial Incentives.
(B) Group Financial Incentives
induce an individual
to produce
For example
Rowan &
Taylor's incentives plan.
Halsey,
(B) group financial incentives
whereas collective
incentives given
raise
group performance
For examples
Profit,
Sharing etc.
Bonus,