Manav, a sales manager, achieved his target one month in advance. This achievement was displayed on the notice board and a certificate for the best performance was awarded to him. .
(i) Name the incentive provided to him.
(ii) Identify the type of incentive.
(iii) List any three incentives of the same type.
(i) Employee recognition programmes.
(ii) Non-financial incentives.
(iii) Three other non-financial incentives :
In business terms, status means ranking of positions in the organisation. The authority, responsibility, rewards, recognition, perquisites and prestige of job indicate the status given to a person holding a managerial position. It satisfies psychologial and social needs of an individual.
(ii) Organisational Climate
Better conditions in an organisation like individual autonomy, reward orientation, consideration to employees, risk taking, etc provide an organisation to be different from the other organisations.
Positive measures taken in these aspects helps to develop better organisational climate.
(iii) Career Advancement Opportunity
When employees are provided opportunities to grow in status and responsibility, they are satisfied and are committed to organisational goals.
Appropriate skill development programmes and sound promotion policy help employees to improve their skills and be promoted to higher levels and exhibit improved performance.