Non Financial Compensation

Only available on StudyMode
  • Download(s) : 181
  • Published : May 6, 2011
Open Document
Text Preview
Non Financial Compensation
"Satisfied minds perform well" .Non Financial compensation which is not in the form of direct pay has great influence on employees motivation, performance and job satisfaction. Time is as precious as money and that encouraged many employees to request for a flexible benefits like flextime, compressed work week, telecommuting, part time work, job sharing, modified retirement. According to a nationwide survey of U.S. workers release by Gallup Organization and Carlson Marketing Group(Mondy, R. Wayne (2010), Human Resource Management (9th ed.) ) indicates that nearly every seven out of ten employees say nonmonetary forms of recognition provide the best motivation and satisfaction which is directly related to the raise in company profits. The work life balance is a key factor for many employers in attracting and retaining the talented employees. This paper focuses on workplace flexibility at SSM IHT(Integrated health Technologies), which include flextime, compressed work week, telecommuting and part time work. SSM IHT provides Information technology services to the SSM Health Care organization which has group of hospitals in four states. Workplace flexibility plays a major role in daily lives of the employees here. Providing flexible work time for employees allows them to work at their most productive time, flextime. This creates healthy atmosphere and motivates employees to perform well. Everyone has preferences and commitments towards work & life, some prefers to work 4 days a week, by compressing the 40 regular hours, than the regular five days a week and spend remaining time with their familys. A 56 years old female employee at SSM IHT starts her work daily at 6am and ends day at 5pm, she works 10 hours a day for four days in a week and takes a day off either Friday or Monday, that way she wants to spend quality time with her family and also help her handicapped aunt. Her situation is a perfect example...
tracking img