IMPACT OF FINANCIAL AND NON-FINANCIAL REWARDS IN THE PERFORMANCE OF THE WORKFORCE IN BANKING SECTORS    

Authors : MILLENNIUM SAGOLSHEM, Prof. SADHANA TIWARI

Publishing Date : 2022

DOI : https://doi.org/10.52458/9789391842284.2022.eb.grf

ISBN : 978-93-91842-28-4

Pages : 0

Chapter id : GRF/EB/TMRP/2022/Ch-07

Abstract : Employee performance impacts organisational success. Employers and business experts are looking for practical and proven strategies to motivate employees to go above and beyond what is expected of them. Everyone knows that incentives influence an employee's behaviour. Encouraging employees to improve their performance is possible through incentives. Giving people a reward is one method of motivation. Employers provide financial and non-financial incentives to employees to increase productivity. Financial institutions are subject to competitive pressures a growing number of financial and non-financial challenges are being presented to the financial markets, which are rapidly evolving. The recommendations call for a high standard and a suitable incentive scheme framework. The competition started costing it good employees. The financial sector was targeted. Employees' needs were not being met by traditional financial and non-financial methods. For this reason, this study will look into whether rewards from banks improve employee performance and help organisations meet their goals.

Keywords : 1. Compensation: It is a monetary payment made to an individual through exchange for a service they have provided for them. 2. Incentives: An incentive or rewards is something which motivates or drives someone to do things or behave a certain way. In ban

Cite :

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https://www.academia.edu/35720031/A_Study_on_the_Impact_of_Financial_Incentives_on_Employee_Performance_A_Minor_Project_Report_Submitted_in_Partial_Fulfilment_for_the_Requirements_of_Applied_Management_Research_Course