PERFORMANCE AND FINANCIAL INCENTIVES

In this lesson we shall discuss about pay and financial incentives. After going through this lesson you will be able to:
(i) Discuss pay for performance and financial incentives.
(ii) Analyse incentives for employees, executives, individual and organisation wide
incentive plans.
The system of wage payment is an important issue between labour and management. Employees could be paid either on the basis of time spent or contributions made by them. the fringe benefits offered by various organisations in India may be broadly put into five compartments–payment for time not worked, employee security, safety and health, welfare and recreation facilities and old age and retirement benefits.

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