question_answer 29)

What financial and non financial incentives can the company use for employees and agents separately to motivate them. What benefits company will get from them?

Answer:

Incentives for Employees (i) Financial (a) Productivity linked wage incentive (b) Bonus (c) Co-partnership (d) Employee stock option (ii) Non-financial (a) Job-security (b) Status (c) Employee empowerment (d) Employee recognition programme Incentives for Agents (i) Financial (a) Commission (b) Bonus like paid vacation (ii) Non-financial Incentive (a) Cordial relationship (b) Career advancement opportunity (c) Job enrichment (d) Recognition programmes like certificate of merit etc. (e) Company achieves the motivation among the employees and they will contribute more in achieving targets.