Monetary and non monetary rewards - incentives, HR Management

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Q. What do you mean by Monetary and non monetary rewards?

Monetary and non monetary rewards - incentives: the term incentive means an inducement which rouses or stimulates one to action in a desired direction. An incentive has a motivational power, it influences the decisions of individuals on putting in efforts towards task performance. In modern organizations, a large variety of incentives are used to motivate the people.

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