Monetary Incentives or Fringe Benefits – What Do Corporate Employees Prioritize?

In today’s fast-paced and highly competitive world, different human resource practices are being adopted by various companies. Managers have started acknowledging the importance of the fact that spending more in order to retain the dedicated and talented employees is not a loss to the company. It, in fact, brings about high morale and sense of security among the employees which leads to lower employee turnover rates and higher profits. Thus, it becomes crucial to understand the priorities of the employees with respect to monetary and fringe benefits, their composition in salary packages, and the contribution they have towards employee satisfaction. This study attempts to do the same using various statistical methods.