MONETARY AND NONMONETARY INCENTIVES INFLUENCE ON THE EMPLOYEESIN SBI AND ICICI BANK – A STUDY IN ANDHRA PRADESH

Abstract

The present study has demonstrated that the financial incentives such as pay & allowance, incentives, bonus and retirement benefits are considered most vital variables in determining the job satisfaction among the bank employees, The study conducted in the two banks of SBI and ICICI Banks of Andhra Pradesh. The data collected through the 444 respondents.  The questionnaire has been divided into three parts: Part – A; Part – B and Part - C. The part – A consists of seven questions connected to respondent’s demographic characteristics. The responses are measured using nominal and interval scales. Part – B consists of 38 questions related to the various characteristics of the banking. Part – C consists of 47 questions, all the items are measured by using five-point interval scale. The questionnaire ends with thanks for participation in the study. A combination of descriptive and inferential statistical techniques are used to analyse the data gathered on respondents demographic characteristics, financial and non-financial incentives, job satisfaction and the dependent variable employee productivity. Using the final data set, factor analysis is used to condense the large amount of data collected. For identifying the financial and non-financial incentives, job satisfaction and employee productivity, principal component analysis and VARIMAX rotation is performed to determine the factors to be used in the final analysis.