Examples of Monetary Incentives

Examples of Monetary Incentives

(a) Following are some examples of’ incentives which are paid/offered, in terms of money

(i) Wages/salaries paid in cash

(ii) Pay increments on a regular basis

(iii) Cash awards

(iv) Payment of Allowances in cash

(v) Bonus payment

(vi) Granting leave with pay

(vii) Profit sharing schemes for employees

(viii) Payment of pension

(ix) Incentives schemes of wage payment.

(b) Following are some examples of benefits, which are capable of measurement, in terms of money

(i) Travel concession

(ii) Reimbursement of medical expenses

(iii) Subsidized food, housing etc.

(iv) Free uniforms.

(v) Education to employees’ children free or subsidized.

(vi) Job-Security.

Granting job security to employees, is not directly a monetary incentives. However, job security

ensures payment of wages/salaries to employees on a permanent basis without a fear of losing jobs. As such, it is a monetary benefit, over a long-period of time.