The Impact of Monetary and Non-Monetary Incentives on Employee’s Motivation: A Case of Non-Teaching Staff of Kumasi Polytechnic
- January 18, 2021
- Posted by: RSIS Team
- Categories: IJRISS, Management
International Journal of Research and Innovation in Social Science (IJRISS) | Volume IV, Issue XII, December 2020 | ISSN 2454–6186
Eunice Nkansah1, Joseph Owusu Amoah2*
1Finance Directorate, Kumasi Technical University, Post Office Box 854, Kumasi, Ashanti Region, Ghana
2School of Business and Law, Department of Banking and Finance
University for Development Studies, Post Office Box UPW 36, Wa, Upper West region, Ghana
Corresponding author*
Abstract: Successful corporate strategies are those executed well by management, however, the execution of the strategies itself rest on the employees involvement in the processes of the business. It is therefore important for management to have a good understanding of factors that influence employees to be motivated in carrying out the necessary task and achieve or exceed management expectation. The study was conducted in Kumasi Kumasi technical university among the non-teaching staff. The sampling method used was the purposive or judgmental sampling. Questionnaires were distributed to 144 non-teaching staff. The data collected was analyzed using both descriptive and inferential statistics. The results of the study show that the monetary incentives used in Kumasi Polytechnic consist of Merit Pay, Bonuses, Salaries and wages, Gain sharing, Accommodation Loan and Scholarship. Whiles the non-monetary incentives consist of Job Promotion, Career Development, Recognition and Fringe Benefit. The study also revealed that generally, the non-teaching staff of Kumasi Polytechnic are motivated. Furthermore, the study revealed that both monetary and non-monetary incentives have impact on motivation, however those that have significant impact were salaries and wages and Merit pay for monetary incentives and crèche for non-monetary. In addition, the study revealed that challenges faced in employee motivation include management not knowing what motivate employee at each time therefore failing to provide what motivates them most. The study recommended that those monetary and non-monetary incentives that have significant impact on employee motivation should be reinforced to enable employees give out their best.
Key words: Monetary; Incentives; Motivation; Employee’s Performance; Kumasi
I. INTRODUCTION
Organizational Theorists have generally acknowledged that the key asset that an organization can ever have are its human resources, however the successful achievement of the goals of the organization will be subject to the proper deployment of its human resources. Furthermore, organizational success rests on its employees, therefore the need to stress on elements that will impact on employees’ motivation and performance from the perspectives of (Liao et al., 2007).
