There are different methods of training considered by organisations depending upon the nature of job at different levels of an organisation. Organisations need to design and implement appropriate training programs that could be beneficial for the organisational management and the employees. The forms and types of employee training methods are interrelated. It is difficult, if not impossible, to say which [...]
In this article we will discuss about incentives, profit-sharing and bonus of employees. Incentives: It is a reward or encouragement or inducement to an employee for the hard work and efficiency at job, assigned by the organization. It is for motivating employees to do better and harder. OR Incentives are an additional remuneration payable to efficient workers for their meritorious [...]
After reading this article you will learn about:- 1. Meaning of Compensation 2. Objectives of Paying Compensation 3. Forms 4. Factors 5. Features. Meaning of Compensation: Employees work to earn money (wages or salary). This money is broadly termed as compensation. It is the reward they want from management in return for services rendered to the organisation. Compensation or paying [...]