24-08-2012, 11:02 AM
EFFECTS OF NON-MONETRAY BENEFITS ON EMPLOYEE DELIGHT
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ABSTRACT
In order to retain employees at workplaces, the demands and needs of employees of the organization need to be studied well. Monetary benefits, being researched by various researchers have shown a very large impact in delighting em ployees but the question arises about the involvement of non-monetary benefits in delighting employees and whether these non-monetary benefits act strongly in delighting employees of their jobs. For exploring these non-monetary benefits and their impact upon the delight of employees, a sample of employees, working at different organizations were asked to fill in a questionnaire consisting of the non-monetary variables that delight them the most. This enabled us in generating an employee delight model with eight variables. These eight variables acted as a base for our employee delight model. The delight model was tested on around 250 employees working at different organizations and was validated using t-test technique. The findings of the research showed that all the eight variables are not necessary in delighting the employees at workplaces.
INTRODUCTION
Overview:
Employees are the most important internal resource of an organization. An organization’s success is largely dependent upon its employee’s satisfaction and comfort; therefore keeping employee’s satisfied with their career is the major responsibility of every em ployer. There are various reasons as to why em ployees get discouraged and resign; these include high stress, lack of communication within the company, lack of communication or limited opportunity for growth which ultimately result in higher turnover rates in the organizations. Besides working on the needs of consumers, organizations also have to look for the interest of their employees, as they play pivotal role in making a business reach new heights. Work environments involving higher levels of interpersonal of conflicts, a lack of worker autonomy, and a high level of disorganization are problematic for workers and organizations (Chamberlain & Hodson ,2010),
LITERATURE REVIEW
Henry Ford famously said, “The customer pays the wages.” This can be better explained in simple terms that ultimately it is the customers’ experiences and responsiveness that determine whether the company exists in its domain. It is essentially important for an organization to be successful and maintaining a high level of customer contact and prioritizing their preferences over all others. Various researches are being conducted to look for ways through which consumers could be satisfied and retained. When talking about private sector businesses, measuring the level satisfaction of customers is practiced largely, and most companies find it highly obligatory and em phasize on understanding customer’s needs and wants but what motivates and motivates the staff needs to be understood and studied as well. Various theorists have tried to create a link between them but only a few people agree to the fact that the only major precious asset of any business is its people. There is a direct impact of the well-being of staff and their satisfaction level upon organizational performance and organizational success; dissatisfied staff means development of dissatisfied base of customers, which has a direct impact upon the bottom line.
Besides working on the needs of consumers, organizations also have to look for the interest of their employees, as they play a pivotal role in making a business reach new heights. Satisfaction of employees is considered as highly important because productivity depends of an organization depends on it. If an organization’s em ploy ees are satisfied they would produce good quality performance on time and would result in booming
Conclusion
From the research, it can be concluded that the non-monetary benefits do not have a large impact in delighting employees at workplaces. The Employee Delight M odel that we framed that consisted eight non-monetary variables, proved to be unsuccessful, as these variables do not really affect and bring contentment in the lives of employees and this model cannot be implemented in any organization for delighting employees.