Morale: It is the total satisfaction a person drives from his job, his work group, his boss, his organization & his environment. It can be defined as the composite of feeling, attitudes and sentiments that contribute to general feeling of satisfaction.

4 Combination of Morale and Productivity

1. High productivity & high morale

2. Low productivity & high morale

3. High productivity & low morale

4. Low productivity and low morale

MOTIVATION VS MORALE

Motivation

            1. Internal psychological drive of an individual

            2. High motivation leads to high morale

            3. Primary concern for an organization

 Morale

            1. Morale as a group scenario

            2. High morale does not essential lead to high motivation

            3. Secondary concern for every organization

Pay for Performance System

There are four pay for performance approaches that are currently being put to use, namely:

1. Merit Pay

2. Variable Pay

3. Skill-based Pay

4. Competency-based Pay

Bonus

An important component of employees' earnings, besides salary, is bonus.It is argued that bonus is a deferred wage payment which aims at bridging the gap between the actual wage and the need based wage.

Bonus regulated by Payment of Bonus Act, 1965. The minimum bonus=8.33% (of one month salary) and maximum bonus=20% of salary.

Incentive

1. Individual Incentives

  2. Group Incentives

  3. Organization wide Incentives

Non-Financial Motivators

1. Appraisal

2. Recognition

3. Status

4. Competition

5. Authority

6. Participation

7. Job security

8. Job enlargement

9. Job enrichment

10. Job rotation

11. Reinforcement

12. Quality of work life

13. Flexi time

14. Job sharing

Also read related article: How to Pay Zero Tax for Income up to Rs 10 Lakhs by CA Chirag Chauhan

If you like my article, please share this on :


Search Professional Post Query Post Assignment Read More Articles

In case of business query on above subject, comment here or contact CA Chirag Chauhan




article author

CA Chirag Chauhan

Tax Expert
Chartered Accountant, CA Chauhan



CHECKOUT TRENDING ARTICLES


  • How to Pay Zero Tax for Income up to Rs 12 Lakhs from Salary for Financial Year 2016-17

  • Do not wait till 31st July to file your Income Tax Return – Keep Ready 9 documents to file before due date

  • Missed to Submit HRA declaration to Employer? You can claim HRA at the time of Filing Returns and get Refund from Income Tax

  • Features and Step wise process - Income Declaration Scheme 2016 – Convert your Black Money to White

  • How to Pay Zero Tax for Business Receipts -Turnover of Rs 1 Crore

  • How to Pay Zero Tax for Professionals (CA, CS, Lawyers, Doctors, etc) earning Income of Rs 16 Lakhs

  • Why you should file Income Tax Return? Benefits of Filing Income Tax Returns

  • How to save Rs 10 crore as retirement corpus

  • Having Turnover of Less than 10 Lakhs? How to File NIL Service Tax return with Circular No 033/2012

  • Starting a New Business or Profession? Compare Structure and type of Entity– Sole, Partnership, LLP or Company

  • Revised and Latest TDS Tax Deducted at Source Rate Chart for FY 2016-17 AY 2017-18

  • Exemption for Capital Gain Arising on Transfer of Resident House Property

  • WILL- Important points, Tax Advantages of will and Format of WILL

  • Revised and Latest TDS Tax Deducted at Source Rate Chart for FY 2016-17 AY 2017-18

  • Exemption for Capital Gain Arising on Transfer of Resident House Property

  • WILL- Important points, Tax Advantages of will and Format of WILL

  • Senior Citizens Tax Benefits in Income Tax Act - Filing, exemptions, advance tax and other benefits

  • Registration process for Trade Mark


  • GET FREE ARTICLE UPDATES VIA EMAIL

    Always stay updated with latest information on expertmile

    I hope by reading this article you got enlighten on ,Motivational StrategiesWhat are motivational strategy to attract more talent for your company ?, How to keep your employess motivational ?, What are non financial motivators for employees of company ?, Motivational Strategies, further to mention before taken any financial decision based on this content it is prefered to take an expert opinion as matter can be subjective.