ENHANCING EMPLOYEE PERFORMANCE THROUGH MONETARY INCENTIVE - Shared by Professor Harpreet Kaur

 ENHANCING EMPLOYEE PERFORMANCE THROUGH MONETARY INCENTIVE 

Monetary incentives means to exchange prices for labor. The most valuable asset of an organization is people who work there. They contribute to the achievement of an organization's objectives. Monetary incentives helps to motivate employee and to increase the productivity, Money is effective in attracting, motivating and retaining employees. Monetary incentives include profit sharing, bonuses, pay and allowances, stock options etc. Bonuses are fixed according to a specific performance parameter. And if company or  an organization failed to give the bonus on time also leads to dissatisfaction and demotivation among the employees.

 The management of an organization needs to recognize it so that the employees get motivated to put their best efforts towards completing their task. This will help to enhance loyalty towards the organization and offering monetary incentives will improve their performances. 

By

Prof Harpreet kaur 

Dept of Commerce 

Lyallpur Khalsa College 

Kapurthala