‘Inaya Ltd.' is a multinational technology company focusing on artificial intelligence, online advertising and search engine technology. The company is generating good profits and takes care of the well-being of its staff. The company offers benefits like car allowance, medical aid, and allowance for children's education to all employees above the Manager's level. It regularly contributes towards the Employees' Provident Fund and pays gratuity on retirement to its employees. Under a special incentive scheme, the employees are offered shares of 'Inaya Ltd.' at a set price which is lower than the market price. Each year, the company keeps aside funds to pay one percent of base salary as bonus to its employees. No wonder 90\% of the employees would recommend working at 'Inaya Ltd.' to a friend.
Explain four incentives being provided by 'Inaya Ltd.' to motivate their employees for better performance.

Question

‘Yummi Foods’, a fast-growing snacks chain has been in business for the last 13 years. Realising that there is a growing demand for nutritious food, the company planned to enter the healthy snacks segment. They decided to hire a Marketing Manager with an experience in this segment. For this, they gave an advertisement in a leading newspaper and received more than 200 applications.
The Human Resource Manager carefully went through all the application forms and removed the application forms of those applicants who did not meet the basic qualifications. Short introductory interactions were also held to filter out candidates who did not match the job requirements. The shortlisted candidates were then asked to take a test designed to measure their intelligence, personality traits, etc. Candidates who performed well in the test were invited for a formal in-depth conversation to be evaluated on their suitability for the job. A job offer was made to a candidate for the role of a Marketing Manager through an appointment letter mentioning the joining date.
But before the job offer was made, ‘Yummi Foods’ had performed three steps in the process of selection which are not mentioned above. Identify and explain the steps.

Answer 1

'Inaya Ltd.' offers the following incentives:
(i) Perquisites:
These, including car allowance, housing, and medical aid, motivate employees beyond their base salary.
(ii) Retirement benefits:
Benefits such as provident fund and gratuity offer post-retirement financial security, encouraging employee retention.
(iii) Stock option/Co-partnership:
Company shares are offered to employees at a discounted price, fostering a sense of ownership and promoting contributions to company growth.
(iv) Bonus:
Bonuses, in addition to salaries, reward good performance and drive employees to achieve superior results.

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