Non Monetary Motivational Methods - Sneha Gaikwad (8333) Smitarup Patnaik (8363)

1. Non Monetary Motivational Methods- Sneha Gaikwad (8333) Smitarup Patnaik (8363)

2. MOTIVATION • “MOTIVATION is the complex forces starting and keeping a person at work in an organization. Motivation is something that moves the person to action, and continues him in the course of action already initiated.” - DUBIN.

3. THEORIES OF MOTIVATION McClelland (1985), Mayo (1927-32), Maslow (1954) Herzberg (1959), McGregor (1960) Taylor (1911), Drucker (1954).

4. SOME MOTIVATION EG. - WALMART • Respect for the individual. • Employees are the biggest assets. • Employees are called “ASSOCIATES.” • Importance to diversity initiatives.

5. MOTIVATION EXAMPLE- ISRO • The Polar Satellite Launch Vehicle’s (PSLV) lift - off has been the result of 12 years of - developmental work, - transfer of technology, - complex project management and - dedicated work by thousands in ISRO. • The secret behind the success of ISRO has been its motivated employees.

6. Maslow’s Need Hierarchy Theory • Hierarchy of Needs (1990’s eight stage model based on Maslow)

7. Desire to be an Achiever.

8. TECHNIQUES OF MOTIVATION

9. TECHNIQUES OF MOTIVATION Monetary • Monetary Reward • Performance Bonus • Profit – sharing • Retirement Pay • Vacation Pay

10. Practical Example - IBM • Motivation – monetary techniques. • Increase in Workers’ Pay and Bonuses. • This Increase the varied performance of the employees. • IBM provides “healthy living” incentives. Investment in employee health is prevention for healthy lifestyles.

11. NON MONETARY TECHNIQUES Method to increase Employee participation and Employee satisfaction Started in 1980s by American corporate Recognition is the driving force nowadays

12. NEED FOR NON-MONETARY REWARDS • For creating more value, company institutionalized non-monetary methods, rewards, and recognition system • Used as a Motivational tool • Recognition and Rewards- • creates positive work culture • Encourages to deliver quality • Creates personal challenges • Effective way of building loyalty • Inspires to give their best

13. TECHNIQUES OF NON MONETARY MOTIVATION Non Monetary • Creating a cooperative environment • Flexible Hours. • Policy of appreciating Employees • Good promotion policies • Job Satisfaction • Job Enlargement • Job Enrichment

14. TECHNIQUES OF MOTIVATION Non Monetary • Clarity of organizational and individual goals • Effective training programmes • Effective communication flow • Quality of work life • Career planning

15. TECHNIQUES OF MOTIVATION Non Monetary • Achievement orientation • Independence and Autonomy • The Opportunity to Contribute • Recognition

16. Creating a cooperative environment • Creating climate of esteem and regard • Competition which is healthy and free from rivalry • Flexible Hours • can help employees meet some of their obligations • By allowing some flexibility in an employees schedule you can increase their desire and motivation.

17. Policy of appreciating Employees • Appreciating in staff by meetings • Send appreciation by mails,messeges • Celebrating events like birthdays, anniversary. • Awards like employee of the month. • Welcoming new employees with welcome gifts like bags,watches,penset. • Good Promotion Policies • The objective of the promotion policy is to ensure that high performance levels are recognized and rewarded. Promotion should be on bases of performance appraisal scores. • Attendance (excluding Privilege Leave). • Competencies (behavioral and domain expertise) • Education • Honesty and sincerity • Ability to do many tasks - Multi-tasking. • Honesty and sincerity

18. Job Satisfaction

19. Job Enlargement • Giving employees more duties of a similar level of difficulty • Employees have more jobs to do at the same level • Workers carry out a range of duties rather than a single duty which helps to increase motivation

20. Job Enrichment • When employees jobs are redesigned to provide them with more challenging and complex tasks • Increase in the range of tasks an individual does • Workers have more responsibility for their own management • Workers are able to identify and solve any problems that they encounter • Gives workers training to improve skills so can meet increased job demands

21. Clarity of organizational and individual goals • Transparency in goal setting for organization • Mentors for teams and individual

22. Effective training programmes • building a strong and knowledgeable staff • training media and methods • Feedback reinforces learning

23. Effective communication flow • Organization wide communication – involving all employees • Departmental communication – specific to one department or unit • Team communication – within one cohesive team or group • Individual communication – specific to one employee at any one time

24. Quality of work life • Working environment • Involvement of employees • Career planning • Planning and developing career path • Self Assessment • Goal Setting • Academic/Career Options • Plan of Action • Catch Hold of Opportunities

25. The Opportunity to Contribute - The opportunity to participate in more complex and imp job assignment.- To work closely with managers and management.- To be involved in key decisions.- To be listened to and heard.

26. Achievement Orientation: Achievement orientation is influenced by a number of factors, including the individual's emotional state, the specific task being undertaken, and the environment in which the task is being performance • Independence and Autonomy.Employees want to be able to work independently. They like to receive their assignments -preferable with the time frame required for completion and then have the independence to complete the work given the guidelines and framework you have set on their own merits.

27. Desire for Recognition • When people receive recognition or affirmation for their efforts it has a positive motivational effect on them. • Just a few words of encouragement are worth their weight in gold

28. TYPES OF NON MONETARY REWARDS Treats – Free lunches, Picnics, B’day treats Knick-Knacks- Desk accessories, T-shirts Awards- Trophies, Certificates Social Acknowledgement- Informal recognition, Recreation clubs membership Office Environment- Flexible hours Tokens- Vacation trips, Allowances On the job- More responsibility, Training

29. Benefits usually provided to employees • Pension plan/pension contributions • Health insurance/above-standard medical treatment • Life insurance/other insurance • Education/training program/school fees • Recreation/sport/culture • Meal vouchers/canteen • Per diems • Employee loans • Company cars • Mobile phones • Gifts to employees • Accommodation • Share option/purchase schemes & more...

30. MERITS Motivates employees to perform better Costs your organization next to nothing Builds tremendous self-esteem among people Makes employees more loyal to company Creates an atmosphere where changer is not resented

31. DEMERITS Demotivates if process is not transparent Could result in unhealthy competition among people May lead to short-sighted, hasty decision making Work intrudes on the home life of employees Will never work if monetary rewards are inadequate

32. Encouraged people achieve the best; dominated people achieve second best; neglected people achieve the least. A word of encouragement during a failure is worth more than an hour of praise after success.

33. Bibliography • Reference Books • Stephen P. Robbins, Management, 7th Edition, Pearson Education • Thomas S. Bateman, Management Competing in the New Era, 5th Edition, Tata McGraw-Hill Publication • C. B. Gupta, Management Theory and Practice, Sultanchand and Sons • Websites • www.google.com • www.businessballs.com • www.motivation.co.in