Research

e-ISSN: 2582-5208
International Research Journal of Modernization in Engineering Technology and Science

( Peer-Reviewed, Open Access, Fully Refereed International Journal )
Volume:04/Issue:09/September-2022 Impact Factor- 6.752 www.irjmets.com
ENHANCING EMPLOYEE PERFORMANCE THROUGH MONETARY
INCENTIVE- A SYSTEMATIC REVIEW
Devendra Singh*1, Dhruv Jain*2, Dhruv Suresh*3,
Harjas Chawla*4, Hemanshu Sarda*5
*1,2,3,4,5SYB.B.A Student, ASMSOC NMIMS University, Mumbai, India.
DOI : https://www.doi.org/10.56726/IRJMETS30038
ABSTRACT
The objective of the scoping review study was to examine the many studies on employee motivation and its
effects on organizational performance. The review concentrated on how employee motivation affects
organizational performance through its various facets, including rewards & recognition, management styles,
workplace culture, and employee attributes. The analysis demonstrated how closely employee motivation and
organizational performance are related. There are other aspects, nevertheless, that can affect a worker's
capacity for effective performance. The particular goals are to ascertain how directors' compensation affects
organizations' performance, to analyze how much salaries and wages affect organizations' performance, and to
assess how employee benefit plans affect organizations' success. The list below outlines the rationale behind
our topic choice, "Employee Performance through Monetary Incentive." It reflects the goals and inquiries we
had for the paper before beginning it, as well as the ones we hope to resolve after finishing it. The study
suggested that as a result, management should create, formulate, and implement compensation strategies
objectively in order to improve the achievement of overall organizational goals with a view to getting the best
supportive and contributing effects from organizational workers. This will undoubtedly allow for effective
organizational performance. According to the study, management should develop, define, and apply pay plans
objectively in order to promote the accomplishment of overall organizational goals with a view to obtaining the
most supportive and contributing impacts from organizational workers. Finally, it's important to ensure that
management and employees are aware of the goals set forth in the compensation schemes in order to avoid
unanticipated and detrimental outcomes. Without a doubt, this will enable effective organizational
performance. We began the essential sequential steps to discover the pertinent research articles once the
question and motivation for our research papers were established.
This study uses a bibliometric analytic technique to thoroughly assess and analyze the growing performance of
employees who were given financial incentives. The conceptual organization of 227 publications (published up
till 2021) was revealed by a co-word analysis to contain of primary subjects exploring the various components
of financial incentives. Some of the several filters used on the databases included those for academic journals,
English-language publications, and research papers. This study also reveals the co-authorship analysis of
various authors that are linked to each other in our topic of research. This paper also shows the country-wise
and year-wise publication along with growth trend. This will help to understand the number of studies that has
been done till now in various countries throughout the years. Next, we have also gathered data related to
number of citations and average citations based on years and countries. All this analysis helped us to write a
systematic literature review (SLR).
Keywords: Operations, Research, Employee Performance, Monetary Incentive, Compensation, Motivation,
Productivity.
I. INTRODUCTION
Employees are required to work longer hours at the workplace than the normal 40 hours per week, this does
not necessarily translate into greater productivity. Instead, businesses should work to improve employee
productivity, which will foster both personal development and business progress (Makad, 2015). Since many
businesses are under pressure to increase profits, it's critical that staff complete the proper jobs in the proper
manner. Working effectively enables more to be produced with the same input (resources), resulting in higher
returns at lower costs and less stress (Noordzij, 2013). Efficiency, in the words of (Drucker, 1974), is "doing
things right."(Samuel & Nnamocha, 2019).
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A variety of organizational and financial issues facing modern businesses have employee engagement as their
top priority. Employees are a firm's main strength and drive its sustainability. Firm’s use various strategies to
preserve employees, to that end, they have various set up procedures that recognise those workers' efforts.
They provide them with incentives or benefits so that they can lead healthy lives and contribute to the
organisation. Incentives are their to motivate them and increase productivity. Employees gain from the rewards
system because it motivates them to maintain and improve their general well-being and job performance.
(Edirisooriya, 2014)
Organizations are attempting to adapt to a changing environment. They must understand the importance of
both office settings and external rewards. Employee dissatisfaction with their jobs will cause bad health and a
rise in turnover if one of them is absent.(Gajda et al., 2016)
As a result, study examines both situations concurrently, investigating monetary benefits and the environment
in relation to leadership as it influence a workforce's overall health, commitment, and job performance.(Ghosh,
2017)
The purpose of the research is to figure out the relationship between monetary rewards and associated
influence on employee performance. Employee productivity has a big impact on a company's capacity to
achieve its goals, and motivated, productive employees can be great assets in steering a company in the correct
direction.(Groen et al., 2017)
Our main goal is to confirm that financial incentives are an effective means of employee performance
motivation in our society, where the cost of living is extraordinarily high. Understanding a worker's motivation
at work is the first step in the formulation and growth of successful management of the firm workforce. All
those conceptual tools that long-term research into human resource management (HRM) has produced have
enriched the balance attained by working on their architecture with a focus on incentives, particularly
monetary incentives. It is significantly impacted by how services are defined and quantified when attempting to
predict the outcomes of the incentives scheme design that will be implemented (Levitats and Vigoda-Gadot
2019).
II. LITERATURE REVIEW
Gaining a competitive advantage and enhancing organisational performance depend on employee performance.
According to Mello (2014), there are many factors that contribute to an organization's success, but human
resources are the most important. Human resource techniques are currently being implemented by businesses
to increase employee performance because they are the main means of gaining a competitive edge.(alişkan,
2010). There are several ways to define job performance. (Nayyar, 1994). It concerns how the position is
carried out while taking the organization's standards into consideration. According to (Romanoff, 1989), it is
the result of a specific period of time. Performance is defined by other academics as behavior that effectively
furthers organisational objectives. High job performance is important not only for achieving a firm's
competitive advantage, but it is also important for individuals because it has become a source of satisfaction for
them. (Motowildo, Borman, and Schmit, 1997) contend that in order to define performance—which is defined
by more than just actions—judgemental and evaluating processes are necessary. To conceptualize
performance, it is necessary to distinguish between the behavioral and outcome aspects (Roe, 1999).
The analysis demonstrates that personal rewards for the best submissions increase participation rates without
compromising the quality of the submitted work. When compared to goal-oriented motivations, such as the
internal fulfillment that comes from assisting their coworkers and the organization as a whole, employees are
more responsive to prize incentives, including the possibility of receiving a special reward.(Blasco et al., 2019)
Employees respond differently to motives based on a mission vs prize incentives. The monetary rewards have a
greater influence. The amount of incentives has an impact on performance as well. We also discover that giving
employees money to manage their own initiatives could rebound and undermine indulgence while girls
respond more favorably than boys to motives based on a mission, like the objective of enhancing patient care.
When the corporation under investigation shifts from a relative incentive structure, where employees'
compensation is dependent on how productive they are in comparison to others, to piece rates, where
employees' income is based on how productive they are individually, individual productivity drops.(Phillips &
Phillips, 2019)
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There have been reports of direct financial advantages, which are crucial in luring top candidates, but they only
have a transient effect on employee motivation. Financial incentives have also been shown to have negative
side effects, including the tendency for workers to do their task quickly and poorly.(Ukwandu & Onyema, 2019)
There is evidence to demonstrate that not all employees are motivated by financial incentives like profit-
sharing. Gainsharing, according to some academics, did, nevertheless, boost worker productivity. A formal
system of employee engagement and financial incentives based on productivity gains are the cornerstones of
the gainsharing strategy, which includes the whole organisation in order to increase organisational
performance. Its main objective is to reduce expenses, which yields a monthly incentive payment. Contrarily,
profit-sharing does not outline the daily tasks that each employee must complete in order to increase
profitability. Employees commonly assume that managers would not keep their word when it comes to paying
out profit-sharing incentives because they are given out annually.(Chien et al., 2020)
Many managers still believe that money is the main motivator of employees despite the absence of clear data
about the effect of monetary rewards on employee job performance. Some concur that rewards like bonuses or
the 13th cheque no longer serve as incentives for workers to do better at work or stick with a firm.(Ngwa et al.,
2019)
Additionally, it has been stated that companies are offering financial incentives more frequently, such as
daycare and educational assistance programmes, and that these financial incentives are successful in luring and
keeping employees. The social reward of acclaim or acknowledgment, which is a bigger motivator of
achievement than monetary rewards, is the opposite.(Arnolds & Venter, 2007)
The effectiveness of the entire organisation may benefit from financial incentives since they have the potential
to have a substantial influence on employee engagement and productivity. However, financial incentives don't
always result in these intended outcomes.(Aguinis et al., 2013)
In one of the situations, systematic review of 146 studies was done to determine the effect of individual and
team led financial incentives on people's performance and to search for pertinent moderators. (n = 31,861).
Findings demonstrate that rewards that are distributed fairly outperform prizes that are distributed evenly.
Different reward features, team compositions, and distribution processes can all benefit organisational (i.e.,
people selection, frequency, and quantity of incentives), team (i.e., team characteristics, kind of performance
measurement), and individual level factors (i.e., importance of rewards, personality).(Garbers & Konradt, 2014)
In a separate scenario, further research found that elements influencing employee performance include
managerial standards, commitment, motivation, employee evaluations, a favorable work atmosphere,
technology, a lack of incentives, comfort level, and inadequate management.(Ibrahim & Brobbey, 2015)
Most employees want motivation in order to feel good about their work and give their best effort. While some
employees are motivated by money, others are driven by accolades and rewards. Employee productivity is
strongly impacted by their degree of motivation at work.(Ganta, 2014)
Previous economics research demonstrates that performance-based compensation is successful in encouraging
greater effort and production. While, psychological research contends that performance based monetary
incentives hinder innovation and creativity.(Akafo & Boateng, 2015)
According to a study, an organization's use of extrinsic motivation for its employees has a big impact on how
well they perform. This is consistent with equity theory, which emphasizes that workers typically perform
better when their compensation is fair. The researcher suggests that extrinsic rewards be implemented by all
businesses to boost productivity.(Muogbo, 2013a)
A particular private institution in Ogun State, South-West Nigeria, was the subject of an investigation into how
compensation packages impacted employee job performance and retention by one of the authors. A model was
developed and tested using data from 111 real surveys completed by university personnel, both academic and
non-academic. Simple percentages supported by structural equation modeling were used to conduct a complete
analysis of the acquired data in order to look into any assumptions and connections that could exist between
the variables under research. The analysis showed a strong relationship between compensation packages,
productivity, and employee retention.(Osibanjo et al., 2014)

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In another investigation done in Anambra state, the analysis's findings indicated that while there was no
correlation between intrinsic motivation and employee performance, there was one between extrinsic
motivation and extrinsic performance. Extrinsic incentive provided to employees in a firm has a considerable
impact on the workers' performance, according to the study.(Muogbo, 2013b)
III. METHODOLOGY
Since the topic “Monetary Incentive” has garnered lot of attention in recent times. We begin by outlining the
goals of the study and the research questions that arise from those goals.
Research Questions and Motivations:
The aim behind selecting “Employee Performance through Monetary Incentive” as our topic is shown in the list
below. It reflects the motivations and questions we asked ourselves before starting the paper and intend to
answer after completing it.
No. Question Motivation
Future researchers would benefit
from having a better
What are the different sectors in understanding of the amount of
RQ1 which Monetary Incentives is research that has been done in
being currently used? the many important fields so they
might continue their own
research in those areas.
From the analysis of various
It would help future researchers
research papers, what were the
RQ2 to limit or expand their search
most frequently occurring
over these keywords.
keywords?
Future scholars might therefore
focus their research on papers by
What were some of the most
specific authors who have
prominent authors and their
RQ3 produced outstanding research
work in collaboration with other
on this subject, as well as any
authors?
partnerships they may have
participated in.
It would help future researchers
to further their study into topics
In which sector, limited research that have still not been
RQ4
has been done? considerably tapped into and
therefore sustain their ideas into
their work.
What are the number of It would help to understand the
RQ5
publications over the years on the depth of the topic that has been
topic? discussed so far over the years.
What are number of Research It would help to analyse which
RQ6 Papers published in different countries are lacking behind in
Countries? research of the topic.
What are the number of citations This would help in analyzing that
done for all the research papers how frequently are the research
RQ7&RQ8
on the basis of countries and papers used by other authors to
years? conduct further research.

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Once the Question and Motivation of our research papers was defined, we moved on to the necessary
sequential actions to find the relevant research papers.
This study applies the bibliometric approaches to assess the current literature related to Employee
Performance and monetary incentives. The scientific contribution and impact of publications in a study field are
systematically reviewed and evaluated using bibliometric analysis, which employs simple to sophisticated
mathematical and statistical methodologies.(Rodríguez-López et al., 2020) It is necessary to retrieve documents
for the analysis from various bibliographic databases, including Google Scholar, Ebsco Host, and Science Direct.
The terms "Operation, Research, Employee Performance and Monetary Incentive" were used in the data search.
To conduct a bibliometric study, we selected a sample of 200–250 papers. Research articles or English-language
or Academic Journals were some of the different filters that were applied to the databases. The evolution of the
intellectual and conceptual structure of a certain area is then understood by various bibliometric techniques
and graphical representations, such as co-citation, co-word, and co-authorship analysis, on the detected
documents.(Benckendorff & Zehrer, 2013) Numerous methods, including the number of citations, author,
country, and year breakdowns, as well as the publication of research papers, were used to conduct the
bibliometric analysis.
Several academics in our area have carried out bibliometric analyses to identify and measure the influence that
specific journals, authors, and institutions have had on a particular field of study. (e.g., article outputs and co-
citation metrics). The VOS viewer programme was employed for the analysis in this study. A software
programme for creating and displaying bibliometric networks is called VOS viewer. These networks can be
built via citation, bibliographic coupling, co-citation, or co-authorship relationships, and they can contain
journals, researchers, or individual articles, for example. Additionally, the VOS viewer provides text mining
capabilities that may be used to build and display co-occurrence networks of significant terms taken from a
body of scientific literature.
Fig. 1 shows the research design of the study. Our search included the following keywords: “Operation” AND
“Research” AND “Employee Performance” AND “Monetary Incentive”. Similar keywords were used in previous
bibliometric research. The literature was further limited to by applying filter of Years (i.e from 2004-2021). The
search was “TS search”, which implies that the title, abstract, and keywords are searched for the query to return
relevant articles. The search revealed many articles from where we short listed 262 research papers for our
study. Further, each article was manually checked for its relevance towards the study; 35 articles were
removed to avoid duplication, and finally, a total of 227 articles was used for the bibliometric analysis.
Using VOS viewer, a co-word analysis of the keywords found in the title, abstract, and author-provided
keywords was carried out in order to understand the main study areas of the published papers by identifying
the connections between the keywords. (Visualizing Scientific Landscapes, 2018). The co-occurrence of
keywords serves to describe the article's substance, according to the theory of co-word analysis. Additionally,
the co-occurrence of keywords in a specific collection of articles illustrates how related terms are linked to one
another(van Eck & Waltman, 2010). As a result, groups of keywords that appear together most frequently are
grouped together (research topics), and a network map that illustrates the connections between the research
themes is created.
The bibliographic data was downloaded as a pdf file from several databases, converted to RIS format using
Mendeley exporter, and then utilized as input for a co-word analysis in VOS viewer to conduct the co-word
analysis. For additional examination, keywords that commonly appeared in the title, abstract, and author-
provided keywords were chosen. A thesaurus file was provided to VOS reader during analysis, which assured
keyword consistency and eliminated keyword inconsistency “(e.g., single vs. plural terms, UK vs. US English
spelling)”. The result was the creation of a co-word network.

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Fig 1: Research Design of the Study

IV. ANALYSIS AND RESULTS
 Co-authorship analysis
Firstly, we started with Co-authorship analysis using VOS viewer. The investigation of the link between the
authors and co-authors aids in locating the main research organizations engaged in a certain area of study. By
mapping the relationship between the author and co-author, this is simply achievable. It is simpler to
investigate both an author's activity and the interconnectivity with other research groups thanks to the
mapping technique' visual depiction of the link. This was done by uploading all the papers in the software in
RIS format. So, while doing the analysis following criteria was decided that minimum number of documents of
an author should be 2. So doing this, we got 13 authors that meet the threshold out of the 533 total authors.
The following table (Table: 1) was obtained:
Table 1: Author wise link strength and their presence in Research Papers

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This table shows the names of all the 13 authors that are linked to each other and their presence in the number
of papers. We can see that maximum link strength is 6 by two of the authors whose presence was their in 4
papers. It shows that they have widely contributed in the research of our topic. After this we have authors with
2,1,0 link strength respectively who had presence in maximum 2 papers.
After this, we found that out of the 13 author’s, the largest set of connected authors consists of 3 authors. So
now we have two visual representation in which one shows the link of all the authors (Fig. 2) while other shows
the link of the largest set of connected authors.(Fig. 3)
Fig 2: Authors and co-authors relationship of the researchers who are working on Employee Performance and
Monetary Incentive “N.B.: (1) Authors who have published at least two documents were considered”
Here we can see that the authors niakas, Dimitris; kontodimopoulos, nick; paleologou, Victoria forms the
maximum link in the set of 3. This shows that these authors are working in the same research field(Employee
performance and Monetary Incentive). While we can see other 10 authors are also doing research in this field
but they are forming a link of 2 and are not linked to any other sets.
Fig 3: Authors relationship of the researchers who are working on Employee Performance and Monetary
Incentive(The largest set of connected authors)
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 Co-occurrence Analysis (Key-words)
A co-occurrence network, also known as a semantic network, is a text analysis technique that incorporates a
graphic display of potential connections between individuals, groups of people, ideas, living things like bacteria,
and other entities represented in written content.
In our research we have used this analysis to find out the widely used keywords in all the research papers taken
for study. So, while doing the analysis following criteria was decided that minimum number of occurrence of a
keyword should be 2. So doing this, we got 76 keywords that meet the threshold out of the 840 total keywords.
The following diagram shows the visualization of occurrence of keywords. We found that out of the 76
keywords, the largest set of connected keywords in the research papers consists of 74. So now we have two
visual representation in which one shows the link of all the keywords (Fig. 4) while other shows the link of the
largest set of connected keywords. (Fig. 5)
Fig 4: Network visualization of occurrence of keywords for the topic “Enhancing employee performance
through monetary incentive”
Here we can see that maximum keywords that were used in the papers are motivation, incentives, extrinsic
motivation, financial incentives, employee retention, effectiveness etc. This shows that over the years these
keywords are widely used as a research topic. This also shows that the keywords used in a research paper are
widely used/linked to the other research papers in our sample collection. Also, we can see that most of the
keywords are linked to each other but we have two keywords (i.e public service motivation and social
incentives) which are used only in one research paper and are not linked to any of the other keywords. This
analysis will also help in knowing which keywords are used less in comparison to others.
This analysis will also help the future researchers to pickup the keywords for their research topic or which
keyword to exclude. Basically, this will help in limiting or expanding their field of study which may be linked to
our topic.

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Fig 5: Network visualization of occurrence of keywords for the topic “Enhancing employee performance
through monetary incentive” (The largest set of connected keywords)
As a result, we now obtain a density representation of terms usage in research publications in Figure 6 (Fig. 6).
The study of co-occurrence and all keywords resulted in the creation of the density visualization map. Only the
most relevant keywords for our topic were chosen for the production of the density visualization map after the
keywords were personally vetted. Employee performance, motivation, and financial incentives were among the
terms that researchers often used, according to an examination of the density visualization map.
Fig 6: Density visualization of occurrence of keywords for the topic “Enhancing employee performance through
monetary incentive” (The largest set of connected keywords)
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 Year-wise publication and Growth Trend
Table 2: Year wise Distribution and Cumulative Numbers
Year No. of Papers Cumulative Papers
2004 1 1
2005 2 3
2006 8 11
2007 17 28
2008 22 50
2009 12 62
2010 20 82
2011 17 99
2012 9 108
2013 10 118
2014 8 126
2015 11 137
2016 11 148
2017 19 167
2018 15 182
2019 15 197
2020 15 212
2021 15 227
Total 227
Yearly Distribution and Growth Trend

250
200
Number of Papers
150
100
50
17 22 20 17 19
12 9 10 11 11 15 15 15 15
2 8 8
1
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Years
No. of Papers Cummulative Papers
Graph 1: Yearly Distribution and Growth trend

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Here(Graph:1), we can see that over the years from 2004 to 2021 the number of papers that we choose for
research ranges from 15-20 on average basis. This was done so that we can get idea about the topic equally
from all the subsequent years. The line graph shows the increase in the sample size over the years. This shows
that the topic was widely used as a research topic right from the beginning of 2004 and got published. However,
during 2008 there are maximum number of papers picked because it was the period of Global crisis. It helped
to understand that how during that period Employee performance was increased and what all were the method
used to do so.
 Country-wise publication and Growth Trend
Table 3: Country-wise Distribution and Cumulative Numbers
Countries No. of Papers Cumulative Papers
Argentina 3 3
Australia 10 13
Bangladesh 13 26
Canada 2 28
China 19 47
Egypt 6 53
France 6 59
Georgia 6 65
Germany 10 75
Israel 8 83
Japan 11 94
Malaysia 1 95
Maldives 11 106
Nepal 2 108
Nigeria 1 109
Pakistan 1 110
Philippines 12 122
Romania 9 131
Russia 13 144
Spain 11 155
Taiwan 2 157
Thailand 7 164
Turkey 5 169
UK 24 193
USA 34 227
Total 227

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Country-wise Distribution and Growth Trend

250
200
No. of Papers
150
100
50 34
19 24
13 6 10 8 11 1 11 2 12 9 13 11
3 10 2 6 6 1 1 2 7 5
0
Turkey
USA
Israel
Australia
France
Malaysia
Bangladesh
Canada
Nigeria
Philippines
Romania
Thailand
Georgia
Germany
Japan
Nepal
Russia
Spain
UK
China
Maldives
Argentina
Egypt
Pakistan
Taiwan
Countries
No. of Papers Cumulative Papers
Graph 2: Country-wise Distribution and Growth Trend

Here(Graph:2), we can see the number of research papers chosen for study from different countries in which
they are publish. So, the maximum number of papers were chosen from USA followed by UK and then China.
This is because these are the developed nations and the employee performance is widely effected by monetary
incentives in these countries. Also we took very few papers from the countries like Nigeria, Pakistan, Nepal etc
because they fall under the underdeveloped category. This will also help the future researchers to know that
which country is lagging behind research in this topic and so can produce some research work for those
countries.
 Year-wise publication along with Total Citations and Average Citation
Table 4: Year wise Distribution of Number of Papers, Number of Citations and Average Citations
Year No. of Papers Citations Average Citations per Document
2004 1 255 255
2005 2 2454 1227
2006 8 1359 169.875
2007 17 4494 264.3529412
2008 22 4132 187.8181818
2009 12 2068 172.3333333
2010 20 10850 542.5
2011 17 3752 220.7058824
2012 9 1789 198.7777778
2013 10 3696 369.6
2014 8 2139 267.375
2015 11 2262 205.6363636
2016 11 654 59.45454545

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2017 19 1279 67.31578947
2018 15 1090 72.66666667
2019 15 478 31.86666667
2020 15 692 46.13333333
2021 15 293 19.53333333
Total 227 43736
Total Citations and Average Citations over the Years

12000
10850
10000
Number of Citations
8000
6000
4494
4132
3752 3696
4000
2454 2139 2262
2068 1789
2000 1359 1279 1090
255
654 478 692 293
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Years
No. of Citations Average Citations
Graph 3: Year wise Distribution of Number of Papers, Number of Citations and Average Citations
Also, using google scholar we took out the information of number of citations of all the research papers. Then
after that we arranged those data according to yearly basis and obtained the table. (Table:4) This table shows
us the sum total of number of citations for the year 2004 to 2021 and also the average citation per document
for the year. We can see clearly from the Graph:3 that the maximum number of citations was done for the year
2010. This means that the researches published in 2010 was widely cited by other researchers in their work.
So, we can assume the work of 2010 to be good enough for the research. Also, for the year 2004, the total
number of citation is very less which means the research work of that period is not that good enough as
compared to others.
Also, we have average citation per document on yearly basis. Here (Table:4), we can see that year 2005 had
highest average whereas 2021 had least average citations per document. This can also be properly seen by the
Graph:3.
 Country-wise Publication along with Total Citations and Average Citation
Table 5: Country-wise Distribution of Number of Papers, Number of Citations and Average Citations
Countries No. of Papers Citations Average Citations
Argentina 3 51 17.0
Australia 10 807 80.7
Bangladesh 13 2592 199.4
Canada 2 3 1.5
China 19 3743 197.0

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Egypt 6 2371 395.2
France 6 678 113.0
Georgia 6 770 128.3
Germany 10 855 85.5
Israel 8 1424 178.0
Japan 11 2182 198.4
Malaysia 1 0 0.0
Maldives 11 4458 405.3
Nepal 2 1061 530.5
Nigeria 1 11 11.0
Pakistan 1 83 83.0
Philippines 12 2469 205.8
Romania 9 2539 282.1
Russia 13 3982 306.3
Spain 11 213 19.4
Taiwan 2 117 58.5
Thailand 7 1249 178.4
Turkey 5 357 71.4
UK 24 4065 169.4
USA 34 7656 225.2
Total 227 43736
Total Citations and Average Citations(Country Wise)

9000
8000 7656
7000
Number of Citations
6000
5000 4458
3982 4065
3743
4000
3000 2592 2371 24692539
2182
2000 1424 1249
1061
1000
807 678 770 855
213 117 357
51 3 0 11 83
0
USA
Canada
Israel
Nigeria
Philippines
Turkey
Australia
Malaysia
Bangladesh
France
Romania
Thailand
UK
China
Georgia
Germany
Japan
Russia
Spain
Maldives
Nepal
Pakistan
Egypt
Taiwan
Argentina
Countries
No. of Citations Average Citations
Graph 4: Country-wise Distribution of Number of Papers, Number of Citations and Average Citations

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Also, using google scholar we took out the information of number of citations of all the research papers. Then
after that we arranged those data country-wise and obtained the table. (Table:5) This table shows us the sum
total of number of citations for different countries around the globe and also the average citation per document
for each country. We can see clearly from the Graph:4 that the maximum number of citations was done for the
country USA. This means that the researches published in USA was widely cited by other researchers in their
work. So, we can assume the work done by USA to be good enough for the research. Also for Malaysia, the total
number of citation is 0 which means the research work of that county is not that good enough as compared to
others, since it is not referred in any other research paper.
Also, we have average citation per document for different countries. Here (Table:5), we can see that Maldives
had highest average whereas Malaysia had least average citations per document. This can also be properly seen
by the Graph:4
V. CONCLUSION
Examining many research issues was the aim of this study. When provided frequently as pay for performance
as opposed to methodically, how does money (the most prevalent incentive motivator) affect performance?
This paper defines and describes important aspects of monetary incentives, such as system, synergistic effect,
and performance, and it also suggests two new aspects: agility and technology adoption. Additional research
findings suggest that monetary incentives affect employee outcomes in both favourable and unfavourable ways.
Positive results contribute to the growth of human capital, which gives the firm a competitive advantage. Future
researchers will also have opportunities for additional study. Employees are given the resources to improve the
well-being of their families and to engage in leisure activities with friends and coworkers, which helps them
meet their higher-level urge to belong in groups. In many countries, a number of changes are being made to the
conventional methods of provider payment and benefit design. Although it is unknown whether and to what
degree they have been adopted, as well as whether they improve quality or lower costs, there is growing
interest in using these financial incentives in businesses. It is crucial that we offer incentive programmes the
best chance of succeeding if we want to utilise them to change people's health behaviours. Insights from
psychology are combined with economic principles in behavioural economics, which also presents a number of
significant psychological phenomena that contribute to a better understanding of human behaviour. More
nuanced characteristics, many of which have been discovered through behavioural economics research, such as
loss aversion, overweighting of tiny probability, hyperbolic discounting, growing payoffs, and reference points,
may influence people's actions in relation to incentives. If incentives are demonstrated to be an effective
method of influencing health behaviour, a more extensive discussion regarding the ethical implications of
incentives will need to be held prior to their widespread application in various health programmes. The use of
incentives to sway behaviour occurs in both the public and private sectors and is a key component of
economics. Financial incentives have drawn attention recently as a way to encourage healthy behaviour and
deter bad ones. In many countries' manufacturing enterprises, this study looked at how financial incentives
affected workers' performance. The study's primary goals were to identify any associations between worker
performance in the manufacturing enterprises under investigation and compensation, including pay, wages,
commission, and fringe benefits. In relation to the conceptual, theoretical, and empirical reviews, relevant
literature was examined. The study finds that because it affects an organization's productivity and expansion,
financial incentive stigma is regarded as one of the most crucial tactics in the human resource management
function. The capability and motivation of the workforce in any corporation have a significant impact on
organisational success, which is a complex phenomenon. How motivate staff members to perform better is one
of the main issues that the majority of employers in both the public and commercial sectors face.
In light of today's era of intense global competition in business, incentives are essential preconditions for
obtaining the highest levels of employee contributions, employee retention, employee dedication, and business
generate between the workers and manufacturing concerns. The common consensus is that financial incentives
have an unmistakably beneficial impact; a significant monetary incentive raises employee productivity.
Employees of a company, then, have inner goals and desires that they exhibit through their actions and efforts
in fulfilling their job duties. In the majority of businesses and other organisations, funding is really employed to
maintain an organization's acceptable staffing levels rather than as a primary motivator. Any bonus programme

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for manual labourers should be tied to objectives that have value to the workers and can be reliably measured.
The motivation to lower other standards of performance, such as quality, should not be based on the desire to
attain a specific goal, such as higher volume. Since everyone has distinct wants and objectives, it is crucial to
understand what motivates a worker the most. There have been a number of issues with the impact of financial
incentives on employees' performance on the side of employees and managers in different corporate
organisations. These include; a lacklustre incentive programme, which has negatively impacted employees'
commitment and productivity; a lack of motivation on the part of employees to perform better because they
believe their contributions are not sufficiently valued by their employers; and The management's lack of the
expertise needed to create a successful financial incentive programme. As a result, it is crucial for businesses to
look for strategies to promote a positive outlook in order to grow both their brand and their profit margin.
Humans are necessary for organisations because, despite being quite simple, human nature can also be
incredibly complicated. This makes it difficult for corporations to understand how to inspire their workforce.
To properly encourage employees, one needs to have a thorough understanding and appreciation of human
nature. Financial incentives include the payment of compensation in the form of commissions, bonuses, etc.
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