Question

Inaya Ltd is a multinational technology company focusing on artificial intelligence, online advertising and search engine technology. The company is generating good profits and takes care of the well-being of its staff. The company offers benefits like car allowance, medical aid and allowance for childrens education to all employees above the Manager level. It regularly contributes towards the Employees Provident Fund and pays gratuity on retirement to its employees. Under a special incentive scheme, the employees are offered shares of Inaya Ltd at a set price which is lower than the market price. Each year, the company keeps aside funds to pay one percent of base salary as bonus to its employees. No wonder 90 percent of the employees would recommend working at Ltd to a friend.
Explain four incentives being provided by \textquoteleft Inaya Ltd. to motivate their employees for better performance.

Hint:

Employee motivation thrives when incentives address both financial and emotional needs.

Answer 1

1. Monetary Incentives: Bonus, profit sharing, and stock options like shares at discounted prices.
2. Retirement Benefits: EPF contributions and gratuity ensure long-term security.
3. Allowances: Car, education, and medical aid allowances enhance well-being.
4. Recognition and Recommendation: High satisfaction and recommendation rates suggest strong organizational culture and recognition.

Final Answer: A mix of financial, non-financial, and social incentives are key to Inaya Ltd.’s employee motivation strategy.