Abhinav International Monthly Refereed Journal of Research in Management & Technology IMPACT OF LABOUR INCENTIVES ON PRODUCTIVITY IN SELECTED CHENNAI-BASED MANUFACTURING COMPANIES

India, with 1.27 billion people, is the second most populous country in the world, while China is on the top with over 1.36 billion people. India represents almost 17.31% of the world’s population. This means one out of six people on this planet live in India. Every year, India adds more people than any other nation in the world, but individual population of some of its states is equal to the total population of many countries. Population of Uttar Pradesh = population of Brazil. Population of Maharashtra is equal to population of Bihar. Tamil Nadu is the sixth most populous state in the country with a sex ratio of nine hundred and eighty six females per 1000 males, Tamil Nadu is in the fourth place. Thus, the details relating to Indian population clearly reveals India is a country quite rich in its MANPOWER RESOURCES. Indian manufacturing sector is currently facing various threats. Our country imports products from China, Hong Kong, Korea Taiwan and high quality products from Japan, Germany, France and U.S.A. Indian customers are highly price-sensitive, giving priority to quality and brand. The Indian manufacturing sector has the social responsibility of keeping the environment clean by adhering to stringent pollution control norms. Further, government control procedural delays and local political interferences hinder the industrial performance. Other common problems affecting the Indian manufacturing sector include low employee motivation and commitment, job monotony, low job satisfaction, lack of teamwork, absenteeism, poor wages and lack of welfare facilities. Therefore, a thorough understanding of the labour market has become an important aspect of HRD in the present-day business environment to improve productivity through proper motivation using quality of work life, morale and job satisfaction.