Incentives Video Lecture | Business Studies (BST) Class 12 - Commerce

coming to the next topic incentives what
are incentives they are all the measures
that an organization takes to motivate
that workers for better performance we
were talking about the motivator so
these incentives we take these
incentives are the the motivators
different employees they could be two
types of incentives that we are going to
be discussing over here financial
incentives and non-financial incentives
first financial incentive that we talked
about is pay and allowances now if you
come to talk of it salary is not really
an incentive it is just a reward for
your performance it is just a reward for
your performance you perform and you get
your salary but in today's competitive
world you know people are ready to pay
salary higher than what is prevalent in
the market if you have that zing in you
so this definitely turns out to be an
incentive to have that something extra
to have that extra spark in you so that
people are ready to pay you higher than
other people in the working in the same
capacity second productivity linked
wages where in if we say that if you
manufacture this is generally for the
workers you know if we set their
production target key then may normally
Sibylla purchase units mengapa their PK
people are able to make 50 units of
software every day right if any worker
is able to produce more than 50 so every
extra unit that you have produced more
than 50 for that you are going to get
double the payment you are going to get
double the payment then you see the
productivity of people people will turn
up producing 70 80 100 right because for
that extra number of units that they are
going to produce they are going to get
double the amount of payment this is
productivity linked wages that's also an
incentive then comes your bonus bonus is
you are given or you are given bonus by
the company to reward for your prefer it
as a reward for your performance
it's only if you perform well depending
upon APNIC kitni says key hey yo apne jo
marketing strategy design key here who
say sales get anybody TK depending upon
that the amount of bonus that you are
going to get is to be decided and this
is generally given by the companies
during the festive seasons right after
this comes this is basically when you
achieve your target performance for that
you get a bonus ticket who skip a that
profit sharing this is a new concept
that the corporates have come up with
wherein employers and employees they
enter into an agreement according which
according to which employees are given a
share in the profit in addition to their
regular salaries now if you give them a
share in the company's profit in
addition to the salary normal salaries
they'll be motivated to work more they
will be they are going to be feeling as
a part of the organization peak-a-boo
jitna better conquering a jitney a
result so again so their share in that
profit thunka or the motive Cayuga to
expand that profit figure so that unka
whatever minuscule percentage of profit
have they are able to X they are able to
make it as huge as possible then stock
options stock option is a plan whereby
the employees of an organization they
are able to get the shares of that
company at a price which is much lower
than the market price of those shares
and by buying the shares of the company
they become a owner they become one of
the owners of the company they feel that
there's a sense of belongingness amongst
the employees and definitely higher the
profit of the company higher would be
the amount of the dividends that is
going to go into their pockets
you give retirement benefits that is of
your pension grachi tea together yes a
multi Provident Fund then we talk about
perquisites perquisite so they are k you
get her free they d up go mobile free
the idea take a medical insurance really
fine
they all perform a part of CT see that
is your cost to the company these are
also your financial incentives Kapoor
car free Milligan
driver milega phone Milenka right
electricity is free these are all
perquisites
right coming to the non-financial
incentives yet the financial incentives
a key in similar pessimal eiga that is
why I am motivated to work better these
are your non-financial benefits that
means it doesn't involve any kind of
monetary gain but yet they motivate the
employees to perform to the best of
their abilities number one status now
what is meant by status status means
giving ranks to the positions in the
organization and the authority
responsibilities the perquisite
the rewards the recognition and prestige
of such rank indicates the status given
to an employee holding such position
when we say that he is the general
manager he is the general manager cha
have o matlab chavo DGM third deputy
general manager become the be voice
aarika ratha he was performing the same
tasks right more or less but now a girls
go update general manager cos status
lady ahead so you have satisfied his
esteem needs you've satisfied his esteem
needs right then career growth
opportunity now career growth
opportunity but when a when a employees
should be provided with opportunities to
improve upon their skills right by
giving appropriate by sending them for
appropriate training programs by sending
them for appropriate training programs
so that they are abreast with the
changes which have been coming up right
now employees should be provided with
opportunities to improve upon their
skills and should be promoted to higher
levels of authority as everybody wants
to grow up to the higher levels they
should be encouraged to attend skill
development programs and such a policy
of an organization with if it's a policy
of the organization to organize you know
these growth and development programs
every now and then take a or agar
employee Kouhei pata hai ki yeh okay
I'll tell you example in an organization
organic bog bara
you