A Study On Nonfinancial Incentives Of KA Employees

Against the background of knowledge economy, talents have become the organizations’ most valuable resource. What exactly do the employees work for? The answer varies as our time changes. Employees’ needs are constantly evolving. As we all know, financial incentives are the basic needs of the staff, however, a rich reward can attract talents, but cannot retain them. If an organization wants to retain talents and to maximize their enthusiasm for work, the subtle and rich nonfinancial incentive is a must.Dalian KA Venture Capital Co., Ltd. belongs to the financial sector, and it provides a high salary to its staff. However, the turnover rate keeps rising every year. Great loss of human resources not only affects the efficient operation of the company, but also greatly increases the cost of training personnel. This paper aims to explore the real non-material needs of KA staff, make reasonable suggestions to improve organizational charm and finally inspire the working enthusiasm of staff.Based on theoretical studies, the paper uses empirical research methods, through quantitative and qualitative analysis, to conclude the following conclusions:(1) The5most important non-material incentives held by KA staff are:work recognition, fairness and impartiality, full empowering to staff, team atmosphere and career development.(2) KA staff of different groups (by gender, age, education, marital status and position attach different importance to different nonfinancial incentives.(3) KA staff is not satisfied with the nonfinancial incentives provided by the company. The most satisfied factors include team atmosphere, working environment and a shared vision, while the least satisfied factors include innovative practices, participation in decision-making and bringing their best into full play.Finally, a new model of KA nonfinancial incentives is constructed according to the statistics, including five dimensions:the "self-realization and development opportunities"," achievement and job autonomy,""work-life balance,""personal growth and organizational culture "and" job content". The staffs needs are not met."Self-realization and development opportunities" has the biggest gap between current status and need, while "job content" has the smallest gap between current status and need.