What is Non-monetary incentives?

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What are Non-financial incentives?

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Non monetary incentives include all social and psychological attractions by which workers are incited to accomplish the best and more work. Though money is an important greed but workers do not work for only money; they take incentive to satisfy their social and psychological satisfaction. Such incentives include job security, recognition, participation in management, sincere interest in the subordinate, pride in the job, delegation of authority and responsibility, promotion, training facilities, labour welfare and social security measures; these non-monetary incentives improve the labour incentives increase interest in industries. Non-monetary incentives can be personal or collective.
Non-financial incentives
Individual
1. Status
2. Promotion
3. Responsibility
4. Pleasant and interesting job
5. Recognition of work
6. Job security
Group
1. Social importance of work
2. Team Spirit
3. Competition
4. Informal Group
Institutional
1. Human relations in industry
2. Communication
3. Worker's participation in management
4. Morale Building
5. Discipline