Understanding Monetary and Non-monetary Rewards Preferences of Individuals in IT Sector of Bangalore, India-A Step Towards Promoting Sustainable Behaviors

Changed work culture, individual preferences, different family backgrounds and the like have different impacts on the preferences which employees have towards monetary rewards and non-monetary rewards offered by the organisations. These rewards act as a motivator for enhanced performance as well as bringing about higher satisfaction levels in the employees. An attempt is made in the study to have an insight into different factors under monetary and non-monetary reward offerings by the organisations, as preferences by employees. For this purpose, respondents were asked to rate their preferences for various offerings made under monetary rewards and non-monetary rewards. 242 respondents responded to the study and gave their preferences towards each of the factors on a scale of 1–5. The outcome of the study showed a positive correlation between employee preferences towards both monetary rewards and non-monetary rewards. Regression analysis was used to find the relation between the factors.