Monetary incentives are a very important factor in the performance of an individual at work. It provides satisfaction in terms of salary. This in turn provides the work force with money to spend for daily commodities, such as food, clothing, shelter, gasoline and other essentials for daily living. However, non-monetary incentives play an equally important role in the performance of an individual.
Non-monetary incentives includes privileges to employees such as break-times at work, food allowances, a place in the office for “unwinding”, a coffee nook, a television which breaks off the stress on the employees. This in turn makes the employees feel more at ease during work and thus a clear thought, which allows them to maximize their full potential for the company’s benefit. Employees are the individual work force of a company.
Regardless of how big or small a company is, the employees are the working unit which makes the company generate money. This entails that a single employee’s motivation is very important in the overall organizational performance. If one employee is not mentally prepared for the challenges that are to be given on the day of work, it may greatly affect the company. Therefore an employee’s motivation should always be boosted in order to promote individual productivity. By this, it provides a stable workforce for company gains.
At present it is not possible to see a business environment that is governed by a single culture. The organizational structure of business in the modern era provides a culturally diverse workforce. This provides the company a great deal of advantage in terms of product success and overall productivity. A more culturally diverse workforce translates to a more dynamic organization in which different views and opinions may be sought for in order to promote a product which can cater to a more culturally sensitive market.