Q. Show Rewards and incentive?
Rewards and incentive: an incentive or rewards can be anything that attracts a worker's attention and stimulates hi to work in the words of Burack and Smith, "an incentive scheme is a plan or programmes to motivate individual or group performance. An incentive programme is most frequently built in the monetary rewards (incentive pay or a monetary bonus), but may also include a variety of non monetary rewards or prizes". On the other hand, French says, the term, "incentive has a limited meaning that includes many kinds of inducements offered to people to perform work, or to work up to or beyond acceptable standards. It does not include:
1. Wage and salary payments and merit pay;
2. Over time payments, pay for the holiday work or differential according to shifts, all payments which could be considered incentives to perform work at undesirable times, and
3. Premium pay for performing danger tasks. It is related with wage payment plans which tie wages directly or indirectly to standards of productivity or to the profitability of the organization or to both criteria.