With this in mind, the question becomes, what other factors do job seekers weigh up in addition to pay? And how can you improve your retention by motivating employees beyond salary? ...

Incentive schemes exist for all types of people working in an organisation – manual, managerial, and professional employees. The most common incentive schemes are stated below: ...

Incentive plans will not be successful if these are well thought out and carefully executed. The success of incentive schemes in an organisation will depend on certain prerequisites. ...

Compensation management is aimed at helping the organization achieve strategic success while ensuring internal and external equity. The goals of an effective compensation management, ...

Steps in Setting Pay / Compensation Organizations establish pay rates taking into account all above-mentioned issues and follow five steps : 1) Conduct a pay survey of what other employees ...

Policy and practice in employee benefits management • An overwhelming majority of organisations say it is their policy to communicate about benefits provision to their employees, ...

The oldest form of compensation is the individual incentive plan, in which the employee is paid for units produced. Today, the individual incentive plan takes several forms: piecework, ...

Employees can be paid for the time they work, the output they produce, or a combination of these two factors. The great majority of employees are paid for time worked, in the form of ...

An employee in the organized sector is entitled to several benefits both financial as well as non-financial. To be specific, typical remuneration of an employee comprises wages and ...

Compensation management creates a system of rewards that is equitable to the employer and employee alike. Patton (1977) suggests that in compensation policy, seven criteria should present ...