STUDY ON FINANCIAL INCENTIVES & ITS EFFECTS ON THE GROWTH, SUSTAINIBILITY & SURVIVAL ON STAFF PRODUCTIVITY

Every organization is highly concerned with what should be done to achieve a high level of productivity
through employee motivation using the right kind of incentive. Accordingly the effect of digitisation of
financial and non-financial incentives has become a demanding issue in human resource management.
Now -a -days , companies are using the electronic media to make payment to staff to reduce glitches and
smooth functioning of the organisation. The presence of supply and demand in the labour markets makes
organisations to provide rewards that have to be competitive enough to attract and retain a number of
competent employees. At core, for the company to actually be effective, it should be able to create an
incentive or a reward policy that will be able to cope with the perceived reward of the employees.
Considerable amount of attention has been provided to the types of incentives that are and could be most
effective for managing performance at an individual level in an organization. Money has always been
portrayed as an incentive that motivates, attracts and retains employees to perform better. When withheld,
it can also act as a punisher. Money as an effective motivator has been given a lot of importance over the
years. At the point when workers are profitable, it can build the organization's income, and thus, an
organization may offer motivators to its representatives. Companies are also providing other benefits also
like digital health Insurance & HRA in order to look after the staff welfare. Prosperity to workers as salary
increases, rewards and enhanced advantages, representatives can turn out to be increasingly inspired and
increment profitability. Moreover, this expanded income can result in the organization developing and
expediting much more workers.