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Informative Article | Commerce and Economic Studies | India | Volume 13 Issue 12, December 2024 | Popularity: 3.7 / 10

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Business Development in India: A Study on Employee Motivation, Decision - Making, and Organizational Sustainability

Sushmita Choudhury Sen, Dr. Ajeya Verma

Abstract: The integration of behavioral economics into human resource (HR) practices is an emerging trend that has the potential to reshape the way organizations in India manage their workforce, improve employee motivation, and enhance organizational sustainability. Behavioral economics, which draws on psychology to understand the irrational and emotional drivers behind economic decision - making, offers valuable insights that can improve HR strategies. This paper explores how principles of behavioral economics can be applied to HR practices in Indian organizations, focusing on employee motivation, decision - making, and the long - term sustainability of business operations. By examining the impact of behavioral economic theories such as loss aversion, framing effects, and social preferences, the study demonstrates how these principles influence key HR processes, including recruitment, performance management, compensation, and employee retention. The findings suggest that integrating behavioral economics into HR practices can enhance employee engagement, reduce turnover, and improve organizational performance, thus fostering a more sustainable business environment in India.

Keywords: Behavioral economics, HR practices, employee motivation, decision - making, organizational sustainability, India

Edition: Volume 13 Issue 12, December 2024

Pages: 829 - 831

DOI: https://www.doi.org/10.21275/SR241210193713

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