FINAL RESEARCH PROJECT ON FINANCIAL AND

NON FINANCIAL INCENTIVES TO EMPLOYEES

AT
CHINAR FORGE LIMITED, JALANDHER

SUMITTED IN THE PARTIAL FULFILMENT OF THE REQUIREMENT

FOR THE AWARD OF THE DEGREE OF

MASTER OF BUSINESS ADMINISTRATION

SUBMITTED BY:-

AMANDEEP SINGH

MBA – (HR)

Uni. Roll No. 1607655

DEPARTMENT OF BUSINESS ADMINISTRATION

GURU NANAK DEV ENGINEERING COLLEGE
LUDHIANA, INDIA
 ACKNOWLEDGEMENT
Acknowledging someone in just a few faces is a really very tough job. However it
would not have been possible without the support of Dr.Sukhdev Singh, Head of
Department (BusinessAdministration) who helped me with my project work and
gave me their able guidance and invaluable advice.

I would sincerely want to give my appreciation to my college, Guru Nanak Dev

Engineering College, for giving me this opportunity to learn under the project advisor
Mrs. Amarpreet Kaur (Assistant Professor) who made sure that this report was
well at every stage and also for all the guidance and support I could get from my
institution.

I would also like to thank each and every member of the college, companions and
family who have specifically or indirectly help me to complete this training report.

Amandeep Singh
 DECLARATION
I hereby certify that the work which is being presented in the Research Project
entitled, "FINANCIAL AND NON FINANCIAL INCENTIVES TO
EMPLOYEES AT CHINAR FORGE LIMITED, JALANDHER”by "
AMANDEEP SINGH" in partial fulfilment of requirements for the award of degree
of MASTER OF BUSINESS ADMINISTRATION, submitted in the
DEPARTMENT OF BUSINESS ADMINISTRATION AT GURU NANAK DEV
ENGINEERING COLLEGE, LUDHIANA under PUNJAB TECHNICAL
UNIVERSITY, JALANDHAR is an authentic record of my own work carried out
under the supervision of MRS. AMARPREET KAUR ( ASSISTANT
PROFESSOR). This study has not been submitted to any other institute/university
for the award of degree of any other degree. This report has been checked for
plagiarism by the college and the similarity index is within permissible limit set by the
institute.

Signature of the student Date

This is to certify that the above statement made by the candidate is correct to the best
of my/our knowledge.

Signature of the supervisor Date

Mrs. Amarpreet Kaur
Assistant Professor
Department of Business Administration
GNDEC, LUDHIANA
 LIST OF TABLES
Table no. Title Page
no.

4.1 Age wise classification of the employees 17

4.2 Gender group of the employees 18
4.3 Marital status of the employees 19
4.4 Opinion of respondents towards that their organization surely 20
involved in encouraging the workers.
4.5 T-test between gender group and organization surely involved in 21
encouraging them.
4.6 Kind of incentives encourages employees 22
4.7 Source of information to know about new incentives 23
4.8 Monetary system being monitored honestly in Chinar forges Ltd. 24
4.9 T-test between marital status of the employees and monetary 25
system being monitored honestly in the company.
4.10 Forms of monetary incentives offered by company. 26
4.11 Kind of Non-financial incentive offered by Chinar forge ltd. 27
4.12 Frequency of employees pleased with incentives provided by their 28
organization.
4.13 T-test between gender group of employees and pleased with 29
incentive provided by company.
4.14 Number of respondents considered monetary and extra welfares 30
will stimulus their productivity.
4.15 T-test between gender group of employees and monetary and 31
extra welfare will stimulates productivity.
4.16 Administration includes employees in decision making. 32
4.17 Frequency of respondents agree that there are sufficient chances 33
for Improvement
4.18 One way anova between age group of employees and sufficient 34
chances for improvement in company.
4.19 Respondents opinion towards their organization provide profit 35
sharing programme.
4.20 Employees agreement level with following statement which 36
motivates them.
4.21
Rank Ranking the important aspects motivates the employees most 37
 LIST OF FIGURES
Figure No. Title Page
No.
4.1 Age wise classification of the employees 17
4.2 Gender group of the employees 18
4.3 Marital Status of the employees 19
4.4 Organization surely involved in encouraging the workers 20
4.5 Kind of incentives encourages employees 22
4.6 Source of information to know about new incentives 23
4.7 Monetary system being monitored honestly in Chinar Forge Ltd. 24
4.8 Forms of monetary incentives offered by company 26
4.9 Kind of Non-financial incentive offered by Chinar forge ltd 27
4.10 Frequency of employees pleased with incentives provided by their 28
organization.
4.11 Respondents considered monetary and extra welfares will stimulus 30
their productivity.
4.12 Administration include employees in decision making 32
4.13 Respondents agree that there are sufficient chances for 33
Improvement
4.14 Organisation provide profit sharing programme 35
4.15 Employees agreement level with following statement which 36
motivates them
4.16 Important aspects motivates the most 37
 TABLE OF CONTENT
Chapter No. Particulars Page no.
Ch 1 Introduction 1-8
1.1 Concept of Incentives 1
1.2 Need of Incentives 1
1.3 Objectives of Incentive system 2
1.4 Limitations of Incentive system 2
1.5 Types of Incentives 2
1.6 Factsheet of Chinar Forge Ltd 5
Ch 2 Review of literature 9-13
Ch 3 Research methodology 14-16
3.1 Need of the study 14
3.2 Objectives of research 14
3.3 Research Design 14
3.4 Sources of Data 14
3.5 Sampling Method 15
3.6 Tools used for Statistical Analysis 15
Ch 4 Data analysis and interpretation 17-38
Ch 5 Findings , Conclusion, Suggestions & 39-41
Limitations
5.1 Findings 39
5.2 Conclusion 40
5.3 Suggestions 40
5.4 Limitations 41
Bibliography i-iii
Annexure iv-vi
 ABSTRACT
Motivation is a good option that terribly supervisor achieves geared toward activating
the individuals to figure for accomplishment of objectives of the organization.
Motivation is a very important tool within the hands of the organization in
stimulating the workers. The most job of all supervisors to encourage his workers. It
should be induced that the workers could be immensely skillful of responsibility;
nothing will be achieved if he's not willing to figure. The main objectives of this
research is measuring the impact of financial and non financial incentives system on
employees and also find out whether incentives are motivating or not.Descriptive
study is used in this research project.Primary data was collected using the structured
questionnaire. A survey was done by the researcher by meeting the respondents. The
size of sample is 100 employees from the Chinar Forge ltd of Jalandhar
city.Convenience sampling method is used for gathering the data. From the research it
is found that financial and non financial incentives program of Chinar forge ltd is
powerful, not extremely powerful. As many attributes of financial and non financial
incentives, which will stimulate the workers.

Keywords: Motivation, financial, non financial incentives, organization.