Non-monetary Benefits Have the Potential to Foster Performance among Staff Members

Abstract

The responsibility of management in any organization is to utilize all its resources effectively and efficiently to accomplish its envisioned goals. Like any other resources, human resources are crucial to any firm because they exhibit specialized expertise, talents, and skills that spur productivity, innovation, and expansion. They are the primary reservoir of innovation, adaptability, and resolving issues making them more important than any other resource in achieving organizational success. The success of a firm is directly impacted by the performance of its employees, who have an impact on quality, productivity, client satisfaction, and overall company achievements. Rewards or bonuses can encourage employees to elevate their performance, which can boost productivity and result. The HR department of the organization makes significant decisions regarding employee motivation through incentives to ensure uniformity in employee performance. This study looked at the effects of non-monetary rewards on employee performance.