Question

What type of incentives can a company offer to its employees? And how do these effect employee recruiting and retention efforts? Do you think these incentives create a more skilled workforce? Why or why not?

Answer 1

Below are the few types of incentives that company offers to its employees.

• Profit sharing
• Bonus
• Annual hikes
• Awards /Rewards
• Promotions
• Medical benefits
• Allowances
• Employee empowerment
• Training and development
• Transportation facilities

By providing above benefits/ incentives to employee enhance the motivation at the workplace and create a self responsibility towards the work. These incentives maintains a happy working area. These incentives help the orgnaization to alight the employee goals and objectives with company goals and objectives thereby enhances the sense of job satisfaction. Therefore these incentives directly affect the employee recruitment and retention efforts.

Yes..! Incentives create a more skilled workforce. Because incentives is not just the monetary benefits to employees but also non monetary benefits such as employee training and development, employee and job empowerment, creating educational facilities, safe working area etc. All these together help the employee to enhance his skills at the workplace for an individual as well organization development. Hence considering these facts incentives can creates a more skilled workforce.

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