Question 10:In Saarthak Steel several initiatives have been taken to further improve the motivation levels of employees through designing jobs that include greater variety of work content, providing certain stability about future income and work, providing fringe benefits like housing, medical aid, etc., allotment of shares in line with various incentives. Identify and briefly explain the incentives being given by the organization to the employees.
The correct answer is – Saarthak Steel has implemented several incentives to improve the motivation levels of its employees. These incentives include:
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Allotment of shares: Saarthak Steel has implemented an employee share ownership plan (ESOP) that allows employees to own a portion of the company. This incentive provides employees with a sense of ownership and encourages them to work harder to increase the company’s value.
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Greater variety of work content: The organization has designed jobs that include a greater variety of work content. This incentive provides employees with the opportunity to learn new skills and take on new challenges, which can increase their job satisfaction.
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Fringe benefits: Saarthak Steel provides its employees with fringe benefits such as housing, medical aid, and other perks. These benefits can improve employees’ quality of life and reduce their financial stress, which can increase their motivation and job satisfaction.
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Stability about future income and work: The organization provides its employees with stability about their future income and work by offering them long-term employment contracts. This incentive can provide employees with a sense of security and reduce their anxiety about their job and financial future.
