Contents
Meaning of Non-Monetary Incentives
Non- monetary incentives are offered with a view to attract better employees, to encourage loyalty, reduce labour turnover, promote better health and reduced absenteeism so as to build up a happy and contented staff.
Non-monetary incentives are sometimes provided free of cost while in some other cases, it may be subsidized. This usually takes the following forms;
ALSO READ- What is Emerson’s Efficiency Plan | Advantages, Disadvantages
1. Educational facilities for training the employees or to educate children of employees.
2. Financial assistance in respect of housing.
3. Medical facilities.
4. Transport facilities.
5. Recreational facilities.
6. Co-operative societies.
7. Leave travel concession.
8. Contribution to P.F. Gratuity etc.
9. Free uniforms.
Related Links
- Advantages and Disadvantages of Cost Audit
- Meaning of Methods of Cost | Basic Methods of Costing
- What is meaning of Classification of Cost & elements of Cost | rules of Cost Accounting Standard
- What is Installation of a Costing System | Conditions and Factors
- What are the practical difficulties in installing cost accounting
- What is technique of Costing | Various techniques of Costing
- What is Material or Inventory Control | Techniques of Materials Control
- What is FIFO Method | advantages and disadvantages
- What is LIFO method | Advantages and Disadvantages
- What is Periodical or Annual Inventory Control System | Limitations
- Methods of Pricing Material Issues | Cost Methods
- What is Cost of Labour Turnover | Causes, Effects Classification
- What is meant by idle time | Definition, Causes, Control
- What is meaning of overtime work | Reason, Disadvantages
- HIFO method of inventory valuation |Advantages, Disadvantages
- What is two Bin System | Meaning of Bin Card and Specimen
- What is Meaning of NIFO Method | Advantages, Disadvantages
- What is Market Price Method or Replacement Price Method | Advantages, Disadvantages
- What is average cost method of Inventory valuation | Advantages and Disadvantages
- What is Meaning of Weighted Average Price Method | Advantages and Disadvantages
- Meaning of Material Losses | Types and Treatment
- What is Difference Between Waste and Scrap
- What is Meaning of Obsolete Material |Causes, Treatment and Losses
- What are Methods of Labour Remuneration | Advantages, Disadvantages
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