ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Job Promotion
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Financial and Non-financial
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Financial
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Nonfinancial
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Detailed explanation-1: -Ans : Financial incentives are directly monetary, i.e., money that can be measured in monetary terms. In contrast, Non-Financial Incentives are those benefits that satisfy employees’ social, psychological, and emotional needs and cannot be measured in terms of money.
Detailed explanation-2: -Job security is one of the most essential Non-Financial Incentives that can ensure better performance from personnel within the company.
Detailed explanation-3: -The financial account is the account of Financial Assets (such as loans, shares, or pension funds). The non-financial account deals with all the transactions that are not in financial assets, such as Output, Tax, Consumer Spending and Investment in Fixed Assets.
Detailed explanation-4: -Examples of non-monetary compensation include work flexibility, experiential rewards, and additional time off, but more on that later.