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INDIRECT OR SEMI-FINANCIAL INCENTIVES

Discuss INDIRECT OR SEMI-FINANCIAL INCENTIVES within the Human Resources Management forums, part of the Resolve Your Query - Get Help and discuss Projects category; INDIRECT OR SEMI-FINANCIAL INCENTIVES Indirect Incentives includes Protection Programmes (insurance plans, pensions). Pay for time not worked. Services and perquisites. ...

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Sunanda K. Chavan
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INDIRECT OR SEMI-FINANCIAL INCENTIVES - September 13th, 2010

INDIRECT OR SEMI-FINANCIAL INCENTIVES

Indirect Incentives includes Protection Programmes (insurance plans, pensions). Pay for time not worked. Services and perquisites. Indirect incentives are broadly classified into 3 categories:

I. Payments for time not worked:

Under these are included call-back and call-in pay; clean-up time; health-in-the-family leave; family allowances; holiday pay; lay-off pay; medical time; paid lunch periods; pay for religious holidays; reporting pay; pay for rest periods; severance pay; paid sick leave; vacation pay; and payment for the time spent on casting one's vote at election rime.

Rest Period: Among office jobs and those jobs requiring heavy exertion, high repetition, or diligent concentration, certain "breaks" — popularly known as a 'Rest period' or a 'Coffee break' - are allowed during the day to allow the worker to rest. The idea is to allow the worker some mental and physical diversion from his job.

Holidays: Certain days in the year are stipulated as paid holidays. In Western Countries like USA, USSR and U.K. Christmas, New Years,'
Thanksgiving, Labour day, are particularly included, on which the employees are paid and they do not have to work.. In India, Independence Day, Republic Day, Gandhi Jayanti, Deepavali, Dashers, Holi, Id, Christmas, Gurunanak Jayanti, Mahaveer Jayanti are gazetted holidays.

Vacations: Paid vacations vary from 15 days to 1 month in a year. These are given to the employee after he has put in a specific period of time. The rational behind the paid vacation is to provide a break in which the employee can refresh himself.

Sick Leave: Provides an employee pay when he is out of work due to
illness. Full pay for a specified number of "permissible" sick days are granted to the employees.

Severance Pay: This provides a one-time payment when an employee is
terminated. This is done on humanitarian ground.

Leave of Absence: This covers leave of absence for which pay is provided. Educational leave is given to managers or management trainees during the training period.

Pension Programmes: A pension represents a fixed payment, made regularly to a former employee or his surviving dependants, provided an employee has fulfilled specific conditions of employment for a specific length of time.
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Re: INDIRECT OR SEMI-FINANCIAL INCENTIVES - July 7th, 2015

INDIRECT OR SEMI-FINANCIAL INCENTIVES

DIRECT OR FINANCIAL INCENTIVES

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