GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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indirect financial payments
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merit payments
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hardship allowances
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financial incentives
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Detailed explanation-1: -A) indirect financial payments B) merit payments C) hardship allowances D) financial incentives Answer: D Explanation: D) Financial incentives are financial rewards paid to workers whose production exceeds some predetermined standard.
Detailed explanation-2: -A financial incentive is defined as: a monetary benefit offered … to encourage behaviour or actions which otherwise would not take place. A financial incentive motivates actions which otherwise might not occur without the monetary benefit.” ➢It is a policy instrument for the State.
Detailed explanation-3: -Economic Incentives – Material gain/loss (doing what’s best for us) Social Incentives – Reputation gain/loss (being seen to do the right thing) Moral Incentives – Conscience gain/loss (doing/not doing the ‘right’ thing) 15-Jun-2014