ASSOCIATION AMONG PERSONAL DEMOGRAPHIC VARIABLES AND INCENTIVE SYSTEMS IN SRI LANKA

Abstract

Today’s organizations are using several techniques and strategies to achieve organizational goals through the people. In a way, incentives are considered as the most important element in motivating and satisfying employees to achieve a high level of performance. Hence proper incentive systems should be maintained by the organizations. Here personal variables may influence the incentive system. In the present paper, the incentive systems in the private sector organizations and the association among personal variables and perceived level of incentives are clearly analyzed with 316respondents from 30 private sector organizations

in The Colombo City by using appropriate statistical tools. This study revealed that there is no association between rewards and personal variables, and employees are preferred to wages and salaries, retirement benefits, promotion, performance related pay and challenging job. Further, all levesl of employees emphasized extrinsic rewards, and the level of rewards are found high among females, graduates, middle level and higher income group of people. Finally, certain suggestions are given to the organizations to make suitable alterations in their incentive system.

Keywords: Demographic Variables, Incentive, Motivation, Performance. Satisfaction

For full paper: fmscresearch@sjp.ac.lk