Impact of financial and non-financial incentives on employee performance

Abstract

This research examines the impact of financial and non-financial incentives on nurse performance in a private hospital in Singapore. Financial and non-financial incentives play an important role in determining the quality of employee performance. Data was collected from nurses who worked in an operating theater department. The research concludes that financial and non-financial incentives have a strong influence on the respondents’ performance. Therefore, management of the hospital must place a good rewarding system that gives appropriate performance-based incentives. Monetary and non-monetary incentives would result in highly satisfied nurses who would then positively impact the hospital in the long run. The paper ends with a discussion and suggestions for future research.