HRM619 Final Project on Effect of employee Incentives

Organizations nowadays are not only innovative in provision of products and services, they have evolved through time to deeply recognize the workplace environment; the maintenance order ranging from tangible to intangible aspects. In order for the organizations to be effective in present days growing competition, they will have to be at par to the needs of time. Incorporation of cutting edge technology to management practices. An organization is nothing but a group of people working together to achieve goals and objective. It is therefore people who hold special importance in the scenario. People in concomitance to an organization are its employees. Employees don’t work in an organization as a part of their social or moral responsibility but the primary source of their motivation is always money. They are either sole breadwinner or a complement to their existing household income. They are certainly driven by the fact what they get by the end of the day from their organization. This in return warrants their stay or their quitting.

The research attempts to realize the very influence of monetary and non-monetary incentives on employees’ intentions of turnover. It will be analyzed that how the money is key factor in the retention of employees. What are the causes and reasons purely pertinent to incentives that would keep the employee intact to organization or set them loose?

In present, days socio-economic conditions of the people are in doldrums, and other social issues like inflation really has risen, employees are in cognizance of this fact and money has become a sole reason for their retention in the organizations. On the part of employers, they are also aware that the employees’ turnover is dependent on the benefits and incentives. The research may also highlight reasons other than incentives and thereby opposed to the aforementioned hypothesis. A lot of researches have been conducted on this topic and related. This will be an addition to already done valuable researches. This research as well would have a potential to unearth some new psycho-economical perspectives.

Hom and Griffeth (1995) The turnover intention of employees is defined as a relatively permanent withdrawal from the employment through the strength of an employee’s intent. Cotton and Tuttle (1986) defined that the turnover intention is a perceived probability of staying and leaving an organization. There may be many reasons behinds the turnover. Smith in 2009, tried to list down the reasons owing to which an employee leaves an organization. The reasons he termed were, imbalance in life primarily work like, lack of acknowledgement at a workplace, lack of independence, immature skills, misalignment, feeling like a pariah, extreme behavior especially rude, stagnation, inability to live up to other’s expectations, impasse in growth, lack of appreciation, and the instability of organization itself.

About Mian

Qualification:- M.Phil ((Business Administration)
Research Experience:- Experiences include data collection in qualitative research and quantitative research, data analysis at SPSS and excel sheet,report writing and presentation of findings.

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