Factors Influencing Employee Incentives Schemes - A Study in Selected Spinning Mills in Tiruppur City

Abstract

Compensation for work plays a crucial role in any organization as it contributes to enhancing overall productivity, profitability, and employee morale. The current research focuses on studying the factors influencing employee incentives schemes - a study in selected spinning mills in Tiruppur city. The study relies on both primary and secondary data, with a sample of 75 respondents selected from the population of employees in five spinning mills using a convenient sampling method. Structured questionnaires were utilized for data collection, and assistance was provided to respondents with no formal education. Major findings were: 25% of the respondents mentioned that the payment and incentives system is impacted by the working hours. An analysis on employee willingness to continue in the spinning mills for long run showed that employees do not vigorously consider incentives as a major reason to continue for a long time. Among three categories, the mean scores varied between 1.9 and 2.1 which tells less than average level of agreement. The suggestions provided by the respondents indicate that the examination of the effects of incentive programs on attendance has revealed that workers, trained employees, and more experienced individuals believe that these schemes contribute to an improvement in attendance.