(i) The incentive offered is ‘job security’, which is a non-financial incentive.
(ii) Two other non-financial incentives are:
: (a) Employee recognition Recognition means
acknowledgement of work with a show of appreciation. With such appreciation, employees feel motivated. It can be done in following ways: (z) Congratulating an employee for his/her good performance.
(ii) Display on notice board or newsletter of the company about the achievement of the employee.
(iii) Giving award/certificate for best performance.
(iv) Distributing momentos, complimentaries like T-shirts, caps, bags, etc.
(v) Rewarding an employee for giving valuable suggestions.
(b) Employee empowerment It means giving more autonomy and power to subordinates. It makes people feel that their jobs are important, as a result of which, they contribute positively to the use of skills and talents in the job performance.