Impact of Monetary and Non-Monetary Reward Systems on Employee Retention: A Case Study of Unique Punch System (P) Ltd., Nelamangala

This study demonstrates that both monetary and non-monetary reward systems play a significant role in employee retention at Unique Punch System (P) Ltd., Nelamangala. Monetary benefits provide direct financial motivation, while non-monetary benefits address employees’ psychological, professional, and social needs; the chi-square analysis confirms a statistically significant association between benefit preference and retention. Organizations should therefore avoid relying exclusively on financial compensation: a balanced reward strategy that combines competitive monetary benefits with meaningful non-monetary rewards is more likely to sustain employee satisfaction, motivation, and long-term retention. For Unique Punch System (P) Ltd. specifically, strengthening compensation fairness, incentive systems, recognition practices, career development, and work-life balance offers a practical pathway to a more effective retention strategy.

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