Organizational trends and shifts in workplace structures are major causes of stress and fatigue within the working environment. Grave reasons for this phenomenon include the pressures of downsizing or lay-offs, perils of company insolvencies, diverse workforce, etc. Consequently, stress and fatigue causes decreased quality in work performances and outputs. Since the work outputs of employees bear weight on the success of a company or organization, business leaders and managers should be able to address the needs and concerns of their employees in order to alleviate stress and fatigue and control the effects and influences of employee work outputs to organizational success.
Non-monetary incentives play an important role in lessening workplace stress and fatigue. Non-monetary incentives include grants and privileges awarded to employees, such as work performance acknowledgement or praises for jobs well done, promotions, organizational leisure and relaxation time, etc. In contrast to monetary incentives, non-monetary incentives are more effective in relieving stress.
Although both types of incentives are useful in an organization, non-monetary incentives outweigh the advantages of monetary incentives in stress relief. This holds to be true for the reason that non-monetary incentives accounts for genuine and effective stress relievers. For instance, setting aside a time for a company excursion or leisure opportunities takes the employees’ minds off work and allows them to enjoy this set time with their colleagues. Monetary incentives, on the other hand, is based on performance which causes employees to worry about performing better, rather than easing stress and fatigue.
Words of encouragement from top ranking officials and employees with managerial positions are considered non-monetary incentives accounts for intrinsic motivational value. Not only is this considered as a stress reliever, but it also influences motivation among employees. In turn, motivation affects organizational performance as it affects enthusiasm and fervor among employees to get involved and contribute to the success of the organization. Well-motivated employees are less stressed and pressured, therefore putting down all the barriers or hindrances in delivering what is expected for organizational success. Usually, non-monetary incentives are more effective in motivating employees.
At present, corporations and business organizations are engaging in global business trends, as signaled by globalization. Globalizing the business setting includes mergers with other companies, outsourcing, expansion to other locations, and also diversifying the workforce. Diversifying the workplace involves multiculturalism, which means, corporations and business organizations nowadays are appointing employees from different cultural backgrounds. Understanding and working with colleagues from differing cultural backgrounds allows corporations and business organizations to become accustomed to other cultures, therefore, enabling them to conduct business with foreign investors with legal and ethical knowledge. Moreover, having a diverse workforce means a having a pool of employees with different experiences, ideas, and knowledge. A wide-range of ideas and contributions generated from diverse experiences and knowledge is important in growth, development, and innovation, which add value to the corporation or business organization.
