Volume : V, Issue : I, January - 2016

A STUDY ON INCENTIVE COMPENSATION PLANS IN PRIVATE ORGANIZATIONS at Hyderabad

E. Hymavathi

Abstract :

Most of the high performing organizations are taking incentive compensation plans seriously. More and more organizations are using it as a strategic tool. Especially in today’s era of globalization & knowledge economy, private organizations face unique challenges when designing short–term and long–term incentive programs. The present research is to find the need of the compensation package in private organization and to find how private organizations can structure incentive plans, the survey is concentrated only on 20 private organizations at Hyderabad; the data collected in the form of Questionnaire was tabulated and analyzed using basic statistical method percentages and ANOVA–test. From the study it is found that, there is a significant difference between short–term and long–term incentive programs and incentives acts as good motivators for the employees to work better and harder but also they need competitive salaries to attract and retain work force of the organization. Based on the findings of the study, some suggestions for the private organizations has been given which can be useful in designing the compensation structure of the employees.

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

E. HYMAVATHI A Study on Incentive Compensation Plans in Private Organizations at Hyderabad International Journal of Scientific Research, Vol : 5, Issue : 1 January 2016

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