A business gives due weightage to the perquisites and prestige of job so that the designation helps to satisfy the psychological, social and esteem needs of an individual. Identify the type of incentive being described in the above lines.

Employee Empowerment Career Advancement Opportunity Status Perquisites

Status

Status: In the organisational context, status means ranking of positions in the organisation. The authority, responsibility, rewards, recognition, perquisites and prestige of job indicate the status given to a person holding a managerial position. Psychological, social and esteem needs of an individual are satisfied by status given to their job.