Question

Three Marks Question:
What is meant by 'non-financial incentives'? List any two non-financial incentives.

Answer 1

Non-financial incentives help to satisfy social and psychological needs which money cannot satisfy

Two non- financial incentives are given below:

1. Job enrichment: A job that provides more autonomy, variety of work and meaningful work experience.
2. Status: It means an individual's position in the organizational hierarchy. Authority, rewards, perquisites and prestige indicate the status of a manager. Status satisfies social and esteem needs.