Activities of HRM

(adsbygoogle = window.adsbygoogle || []).push({}); Major HR Management Activities 1. Strategic HR Planning and Analysis a) HR Planning b) Job Analysis : Information is the basic material used by an industry for many kinds of job related ...

Incentive systems

(adsbygoogle = window.adsbygoogle || []).push({}); Incentive systems exist for almost every type of job from manual labor to professional, managerial, and executive work. The more common incentives are discussed in the following pages. 1. ...

Profit sharing and stock option plans (PSSOP)

Profit sharing is scheme whereby employers undertake to pay a particular portion of net profit to their employees on compliance with certain service conditions and qualifications. The purpose of introducing profit sharing schemes has been mainly to ...

Incentive

An organization’s success requires an effective strategy that is attained by achieving the underlying goals and objectives. Managers and HR departments can use incentives as tools to motivate employees to attain organizational goals and objectives ...

The purpose of Incentives as Nontraditional Compensation

Employees who work under a financial incentive system find that their performance determines their pay in whole or in part. As a result, incentives reinforce performance on a regular basis. Unlike raises and promotions, the reinforcement is generally ...

Eligibility and Coverage for Incentive

Who is eligible of incentives, and other forms of nontraditional compensation? The extent of coverage is crucial because it affects teamwork, motivation and perceptions of equity. Eligibility may differ for different programs even within the same ...

Function of HRM

Human resource management performs quite a few useful functions in order to achieve its objectives. These functions have been categorized by Decenso and Robins as: 1. Acquisition: The acquisition function begins with HR planning. Relative to human ...

Objectives of HRM

The needs and desires of the employers and also of the employees have been rapidly changing over the decades and for various practical reasons the human resources have become the most important of all the resources used in industries and utilities ...

Human Resource Management

One of the most important resources of an organization is its people. Employees supply the talent, skills, and creativity and exert the effort and leadership that contribute to the level of performance of the organization. Effective use of human ...

Co-partnership

In this system, the worker gets his usual wages, a share in the profits of the company and a shear in the management of the company as well. Thus, employees share the capital as well as profits. When co-partnership operates with profit sharing the ...
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