Impact of non-monetary benefits on employee commitment and work performance in the automobile industry

Abstract

The business environment is dynamic in nature and to sustain in such a volatile market, organizations need to work on their strengths to make it their competitive advantage. The humans are the assets of an organization. Therefore, they must be regularly appreciated and incentivised for the effort they put it. However, money is not always a motivating factor for employees to work hard (Ganta, 2014). A good reward system can be helpful to achieve the desired results. This study is with respect to the automobile industry where work becomes rigorous,and it is highly important to keep the employee’s morale uplifted. The non-financial benefits and rewards might have direct impact on the performance of the employees since the sole reason of such rewards is to recognize the value derived from employees’ hard work. The study conducted across different automobile firms in Chennai would help in determining the effect on performance and commitment of employees towards their job. Sample of 301 employees from selected firms in Chennai were surveyed to know the factors and impact of non-monetary benefits on employee commitment and work performance in the automobile industry.