1.

Define motivation. Differentiate between monetary and non-monetary factors affecting motivation.

Answer»

Motivation : Motivation is the word derived from the word motive which means needs, desires, wants or drives within the individuals. It is the process of stimulating people to actions to accomplish the goals.

Monetary FactorsNon-Monetary Factors
1. These are financial benefits.1. These are non-financial benefits
2. The purpose of monetary incentives is to reward associates for excellent job performance through money. Monetary incentives include profit sharing, project bonuses, stock options and warrants, scheduled bonuses.2. The purpose of non monetary incentives is to reward associates for excellent job performance through opportunities. Non-monetary incentives include flexible work hours, training, pleasant work environment.



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