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Financial and non- financial incentives best practices in work organisations: A critical review of literature

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dc.contributor.author Manjenje, M.
dc.contributor.author Muhanga, M.
dc.date.accessioned 2023-08-24T07:30:39Z
dc.date.available 2023-08-24T07:30:39Z
dc.date.issued 2021
dc.identifier.citation Manjenje M., & Muhanga, M. (2021). Financial and non- financial incentives best practices in work organisations: A critical review of literature. Journal of Co-operative and Business Studies. 6 (2), 190-200. en_US
dc.identifier.issn 2714-2043
dc.identifier.issn 0856-9037
dc.identifier.uri http://repository.mocu.ac.tz/xmlui/handle/123456789/613
dc.description.abstract Motivation has effects on employee performance in numerous ways. Cognizant of this, companies have established various incentives/motivational packages to enhance employees’ morale and hence improve performance. Obviously, workers are motivated by both financial and non-financial rewards. The literature on employee motivation focusing on financial and non-financial incentives is reviewed in this article. The intention is to identify the best practices in connection with these incentives. Using a documentary analysis research process, information was collected from peer-reviewed journal articles, books, and conference proceedings, employing various search engines. Keywords including "motivation," "incentive," "financial rewards," “motivation,” “incentive,” “reward” “financial incentives,” and "non-financial incentives" were used during the search. Publications in English language were the only ones reviewed. The articles which met those criteria were selected and underwent the quality assessment and data extraction. The search identified 1497 publications, abstract screening was done from 1091 qualified publications, and 440 full-texts were screened for eligibility. Only 85 articles reflected the theme of this review. Both financial and non-financial incentives have been found to be crucial in this review, despite the fact that most of people are working hard to retain their economic and social status. Numerous types of financial and non-financial incentives were identified through the review. Managers must ensure that their workers operate in friendly and attractive conditions, according to the findings. This study suggests that managers and other interested parties use the findings as a starting point for identifying and understanding factors motivating workers in their organisations in order to create an atmosphere that supports, promotes, and fosters such factors. It is recommended that the best ways to inspire employees are to build a supportive and exciting working atmosphere, effective communications and strong association, morale-boosting events and commitment to off-the-job life. en_US
dc.language.iso en en_US
dc.publisher Moshi cooperative University en_US
dc.subject Financial incentives en_US
dc.subject Non-financial incentives en_US
dc.subject Non-financial reward en_US
dc.subject Motivation en_US
dc.subject Financial reward en_US
dc.subject Monetary en_US
dc.title Financial and non- financial incentives best practices in work organisations: A critical review of literature en_US
dc.type Article en_US


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