Performance and Financial Incentives

The system of wage payment is a vital issue among labour and management. Workers could be paid either contribution made by them or on the basis of time spent. The fringe benefits offered by many organisations may be widely put into five compartments-, employee security, payment for time not worked, security and health, welfare and recreation facilities and old age and retirement benefits.

Money and Motivation

Intrinsic inspiration stems from feelings of attainment and accomplishment and is concerned with the state of self-actualisation in which the satisfaction of completing something worthwhile motivates the further workers so that this motivation is self- generated and is independent of financial rewards. Some of the intrinsic motivators are recognition, praise, esteem, responsibility power, challenges, status and decision-making responsibility.