Archive | Compensation


Compensation refers to all forms of financial returns and tangible benefits that employees receive as part of an employment relationship. Beyond this pure economic exchange model, compensation may also be viewed as (a) a system of rewards that motivates employees to perform; (b) a critical communication device through which organisations convey and reinforce the values, culture, and the behaviours they [...]

By |2020-11-07T18:17:00+05:30November 7, 2020|Compensation|Comments Off on Compensation

Top 5 Methods of Remunerating Labour

Various methods of remunerating labour are: 1. Time or Day Rate System 2. Straight Piece Work Rate System 3. Time Rate v/s Piece Rate System 4. Incentives and Profit Sharing 5. Bonus System. Method # 1. Time or Day Rate System: This is the most common system found in practice. Under this the worker is paid an hourly, daily, weekly [...]

By |2016-11-02T06:00:29+05:30November 2, 2016|Compensation|Comments Off on Top 5 Methods of Remunerating Labour
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