Disucss the benefits for coca cola of providing its workers with financial incentives such as competitive...

Disucss the benefits for coca cola of providing its workers with financial incentives such as competitive pay,annual bonuses and performance related pay . please illustrate the answer . 3-4 benefits will do . please answer in essay form . do give a conclusion aswell . Thank you

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Expert Solution

Financial incentives program are designed to inspire workers loyalty and increase productivity among them.

The benefits which coca cola will get for providing financial benefits to its workers are as follows:

Monetary incentives often do achieve short term goals for business such as reducing problematic behaviour. An incentive scheme can improve employees attitude and improve the working atmosphere.

Competitive pay package can motivate and reduce workers turnover. Workers turnover has a significant cost to business , which motivation can help reduce. While salary is not the only motivating factor for workers it can help workers valued by the employer.

Offering bonuses that facilitate competition on a regular basis to keep each employee striving for excellence. Friendly competition among your team is likely to have a positive impact on staff members and a time to receive the bonus.

Performance related pay gives workers a feeling of being tied to the Fortune of the company making it easier to emphasise with cost-cutting measures. It can improve workers moral if they feel their hard work is rewarded.

Rahul Sunny answered 1 year ago

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