Sakshi is a high performing software engineer working in Bolera Ltd. She received a job offer with a significantly higher pay package from a competing firm. Though the offer was financially very attractive, she did not want to leave her present job because she felt valued in the organization and liked its work-climate like individual autonomy, consideration to employees, etc. So, Sakshi approached her manager and told him about this job offer. Her manager did not want to lose her. Although the competing firm was offering a higher salary, the manager of Bolera Ltd. assured her to provide many other benefits. Over the next few weeks, her existing job was redesigned by the manager to make it more interesting. Her job now included a greater variety of work content, requiring higher level of knowledge and skill, which motivated Sakshi. Not only this, her name was also displayed on the notice-board of the company, highlighting her achievements. In addition, she was given the status of a ‘Technical Head’ for a major upcoming project, which carried more authority, responsibility, autonomy and powers. The management also provided her with opportunities to improve her skills by offering her training in advanced tools and technologies, so that she would be promoted to higher level jobs in the future. All these measures satisfied her psychological, social and esteem needs. Sakshi now felt confident about her growth and future with Bolera Ltd. Now she no more wanted to look for other competitive packages in other firms.
Identify and explain four non-financial incentives provided to Sakshi.
Sakshi is a high performing software engineer working in Bolera Ltd. She received a job offer with a significantly higher pay package from a competing firm. Though the offer was financially very attractive, she did not want to leave her present job because she felt valued in the organization and liked its work-climate like individual autonomy, consideration to employees, etc. So, Sakshi approached her manager and told him about this job offer. Her manager did not want to lose her. Although the competing firm was offering a higher salary, the manager of Bolera Ltd. assured her to provide many other benefits. Over the next few weeks, her existing job was redesigned by the manager to make it more interesting. Her job now included a greater variety of work content, requiring higher level of knowledge and skill, which motivated Sakshi. Not only this, her name was also displayed on the notice-board of the company, highlighting her achievements. In addition, she was given the status of a ‘Technical Head’ for a major upcoming project, which carried more authority, responsibility, autonomy and powers. The management also provided her with opportunities to improve her skills by offering her training in advanced tools and technologies, so that she would be promoted to higher level jobs in the future. All these measures satisfied her psychological, social and esteem needs. Sakshi now felt confident about her growth and future with Bolera Ltd. Now she no more wanted to look for other competitive packages in other firms.
Identify and explain four non-financial incentives provided to Sakshi.
Show Hint
Solution and Explanation
Sakshi got a better pay offer from a rival firm but stayed. Her manager gave her other benefits to keep her.
The case lists a redesigned job with more variety and skill, her name on the notice board, the status of Technical Head, and training for promotion. These are non-financial incentives.
Step 2: Incentive 1: Status:
Clue: She was given the status of Technical Head for a major project, with more authority, responsibility, autonomy and powers.
Explanation: Status means the ranking of positions in the organisation. It is shown by authority, responsibility, recognition and prestige.
Step 3: Incentive 2: Employee recognition programmes:
Clue: Her name was displayed on the notice board, highlighting her achievements.
Explanation: Recognition means acknowledging work with a show of appreciation. Such praise motivates employees to work at a higher level.
Step 4: Incentive 3: Job enrichment:
Clue: Her job was redesigned to include a greater variety of work and a higher level of knowledge and skill.
Explanation: Job enrichment means designing jobs with more variety, higher skill needs, more autonomy and a chance for personal growth.
Step 5: Incentive 4: Career advancement opportunity:
Clue: She was offered training in advanced tools so that she could be promoted to higher level jobs.
Explanation: Skill development and a sound promotion policy help employees to earn promotions, and this encourages better performance.
Final Answer:
The four non-financial incentives given to Sakshi are status, employee recognition programmes, job enrichment and career advancement opportunity.
Top CBSE CLASS XII Business Studies Questions
What is the Planning Process?
- ................ is one of the most important attitudes of an entrepreneur, which is defined as the ability to continue to do something, even when it is difficult.
(A) Decisiveness
(B) Interpersonal skills
(C) Perseverance
(D) Taking initiative - Mention any four most common environmental barriers which an entrepreneur may face while running his/her venture.
- ____is the process of searching for prospective employees and stimulating them to apply for jobs in the organization.
‘Vishesh Constructions’, a construction company, decided to strictly implement ‘No Helmet, No Entry’ and put the following sign at their construction sites :
Identify the type of plan indicated by the above sign :
Top CBSE CLASS XII Directing Questions
- Akash Mehra is the Marketing Manager of ‘Kedanta Enterprises’. He gives orders and expects his subordinates to obey those orders. Communication is only one-way with the subordinates only acting according to the command given by him. Identify the leadership style of Akash Mehra :
- ‘Lack of confidence of superior in his subordinates’ is one of the barriers of communication. Identify the communication barrier :
- From the following, choose the incorrect statement about the importance of ‘Directing’ function of management :
- Inaya Ltd is a multinational technology company focusing on artificial intelligence, online advertising and search engine technology. The company is generating good profits and takes care of the well-being of its staff. The company offers benefits like car allowance, medical aid and allowance for childrens education to all employees above the Manager level. It regularly contributes towards the Employees Provident Fund and pays gratuity on retirement to its employees. Under a special incentive scheme, the employees are offered shares of Inaya Ltd at a set price which is lower than the market price. Each year, the company keeps aside funds to pay one percent of base salary as bonus to its employees. No wonder 90 percent of the employees would recommend working at Ltd to a friend.
Explain four incentives being provided by \textquoteleft Inaya Ltd. to motivate their employees for better performance. - Statement 1: Leadership indicates the ability of an individual which influences the behavior of others.
Statement 2: Leadership is exercised to achieve personal goals of the leader. Choose the correct option from the following:
Top CBSE CLASS XII Questions
- 2, b, c are in A.P. and the range of determinant $\begin{vmatrix}1&1&1\\ 2&b&c\\ 4&b^{2}&c^{2}\end{vmatrix}$ is [2, 16]. Then find range of c is
- A boy of mass 50 kg is standing at one end of a, boat of length 9 m and mass 400 kg. He runs to the other, end. The distance through which the centre of mass of the boat boy system moves is
- A capillary tube of radius r is dipped inside a large vessel of water. The mass of water raised above water level is M. If the radius of capillary is doubled, the mass of water inside capillary will be
- A circular disc is rotating about its own axis. An external opposing torque 0.02 Nm is applied on the disc by which it comes rest in 5 seconds. The initial angular momentum of disc is
- A circular disc is rotating about its own axis at uniform angular velocity \(\omega.\) The disc is subjected to uniform angular retardation by which its angular velocity is decreased to \(\frac {\omega}{2}\) during 120 rotations. The number of rotations further made by it before coming to rest is