Major HR Management Activities 1. Strategic HR Planning and Analysis a) HR Planning : Human resource planning is the continuous process of systematic planning to achieve optimum use ...

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 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 ...

Pay for knowledge and pay for skill compensation systems reward employees with higher pay as an incentive for the increased knowledge or skills they acquire. Most organizations have ...

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 ...

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 ...

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. ...

The important objectives of fringe benefits are: a. To motivate the employees by identifying and satisfying their unsatisfied needs. b. To create and improve sound industrial relations. c. ...

The term fringe benefits refers to the extra benefits provided to employees in addition to the normal compensation paid in the form of wage or salary. Many years ago, benefits and ...

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 ...