The primary objective of a compensation system is to administer an effective and equitable pay system. It can be affected by various factors which are as follows: 1. Organizational Provisions Organizational provision states that …
Compensation means the basic returns that an employee obtains from his/her work. Every organization offers a good compensation to attract and retain the ablest employees in the actual work floor. It is because if the company does…
The HRM also deals in ensuring very good performance to their current staff and dealing with performance concerns. In addition, the HRM handles workers and management practices in conforming various regulations and policies. Howe…
The life of industrial workers is full of risks and hazards. Every year thousands of workers are injured in factories and mines. The injuries may be caused as a result of any unsafe activity, or as a result of some unsafe work co…
Insensitive: • Monetary benefits paid to employees for outstanding performance. • Given in addition to wage & salary • Variable pay linked to performance Types of Incentives 1. Individual Incentives: Reward linked with th…
Benefits are membership based rewards offered to all employees regardless of performance. • It should not be expected to motivate employees. • Absence of adequate benefit can contribute to employee dissatisfaction and increased…
The Nirma success story of how an Indian Entrepreneur took on the big MNCs and rewrote the rules of business. It was in 1969 that Dr. Karsanbhai Patel started Nirma and went on to create a whole new segment in the Indian domestic…
Azim Hashim Premji, founder of Wipro Limited, India’s biggest and most competitive IT company based in Bangalore, was born on July 24th 1945 in Bombay. Premji’s story of success and prominence clearly shows how determination and…
Job Evaluation 1. The job is rated keeping in view such factors as responsibilities, experience, qualifications, skills, working conditions etc required for performance of the job. 2. Job is rated before employee is appointed 3…
Dhirubhai Ambani achieved what almost everybody would consider impossible. In a life spanning 69 years, he built from scratch India’s largest privately controlled corporate empire. Dhirajlal Hirachand – better known as Dhirubhai …
- The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge. One of the greatest scientists living on the planet today, Stephen Hawking needs no introduction. With science geeks and the non-scientific pop…
Pay plan is concerned with assigning a monetary value to each job in the organization. Steps: 1. Job A nalysis: Process of describing the duties of a job, authority relationship, skills required, conditions of work and additinal …
Compensation: Compensation refers to all forms of financial returns, tangible service, and benefits employees receive as part of an employee relationship. -Milkovich Designing pay structure that will attract, retain and motivate…
1. CAT: Common Admission Test by IIMs 2. MAT: Management Aptitude Test by AIMA 3. XAT: MBA Entrance Test by XLRI Jamshedpur 4. JMET: Joint Management Entrance Test by IITs 5. SNAP: Symbiosis National Aptitude Test (SNAP) 6. …
A number of students get confused after their class 12th result, whether to opt for B com - Honours or B com - Pass. and why is it that the cut-off for one B.Com (Honours) course is more than that of the other B.Com (Pass) course…
MBO is a process that converts organizational objectives in to individual objectives. Steps of Management by Objective (MBO) 1. Goal Setting: Generally supervisor & subordinates work together to establish goals. 2. Action …
• Leniency Error: Every evaluator has his or her own value system which acts as a standard against which appraisals are made. Some evaluator mark high and others low. Positive leniency error and negative leniency error. If all in…
A) Relative Standards: Performance of individuals are compared against other individuals. Major relative standards major are: 1. Individual Ranking: supervisor or rater ranks the performance of subordinates in the order of th…
Once the employee has been selected, trained & motivated the next step of management is to find out how effective it has been at hiring and placing. The tools used to ascertain whether an employee has shown her/his best perfo…
Career development consists of personal improvements undertaken by the individual employee, training, development and educational programs provided by the organization and various institutes. The career development is the process…
A career is a sequence of positions occupied by a person during the course of a lifetime. - Decenzo & Robbins Career is a sequence of separate but related work activities that provides continuity, order and meaning in a perso…
MBA with Finance specialisation and M.Com are two options for any commerce graduate. Each course has its own structure and focus, hence opting between the two purely depends on which career direction a graduate wants to take. MBA…
Traps: Never badmouth your previous industry, company, board, boss, staff, employees or customers. This rule is inviolable: never be negative. Any mud you hurl will only soil your suit. Especially avoid words like “personality c…
Traps: There are some questions your interviewer has no business asking, and this is one. But while you may feel like answering, “none of your business,” naturally you can’t. Some interviewers ask this question on the chance you…
Methods of recruitment are a manner of forming connections with potential employees. Various methods for recruiting employees can be categorised into the following categories: 1. Direct Advertising Job postings on your company&…
There are two types of factors that influence recruitment, internal and external, as detailed below: 1. Internal Factors 2. External Factors 1. Internal Factors (A) Policies and Procedures of the Organization The organizat…
Recruitment is the term used to describe this procedure. Some people use the phrase "recruitment" to refer to the process of finding a job. The recruitment process is just one part of the overall employment process. Oth…
According to Dessler, there are six steps in doing job analysis: 1. Decide how you will use the information: it helps to determine the types of data and methods to collect. 2. Review relevant background information: such as or…
Job Analysis: The process of studying and collecting informations relating to the operations and responsibilities of a specific job. The immediate product of this analysis are job description and job specification. It analyze th…
As a small website or business, having a Top SEO Agency by your side can prove to be indispensable when taking on big competitors. Although taking on big players in SERPs is a bit of a daunting task, there are several comp…
