1.

Distinguish between ‘monetary’ and ‘non-monetary’ incentives.

Answer»

Difference between Monetary and Non-monetary Incentives

Basis of DifferenceMonetary IncentivesNon-monetary Incentives
1. MeasurementThese cannot be measured in terms of money.These can be measured in terms of money.
2. SuitabilityThese are effective in case of managers.These are highly effective in case of workers.
3. Level of SatisfactionThese help in satisfying lower level needs (food, clothing and shelter).These help in satisfying higher level needs (esteem, status and selfactualisation).



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