The different procedural steps involved in the selection process are:- 1. Job Description 2. Application Forms 3. Employment Tests 4. Interviewing 5. Physical Examination 6. Induction and Orientation. Step # 1. Job Description: i. The first important step of any selection process is to develop job descriptions for the positions to be advertised and filled. ii. A job description is [...]
After reading this article you will learn about:- 1. Definition of Merit Rating 2. Objectives of Merit Rating 3. Methods 4. Advantages 5. Disadvantages. Definition of Merit Rating: Merit Rating assesses the merit of the person doing the job. Merit rating determines the extent to which an employee meets job requirements. Job evaluation and Merit Rating are two complementary aspects [...]
After reading this article you will learn about:- 1. Definition of Profit Sharing 2. Objectives of Profit Sharing 3. Methods 4. Advantages 5. Limitations. Definition of Profit Sharing: Profit sharing schemes may effectively supplement other incentive plans. Profit sharing is a scheme to augment the compensation of workers through the sharing of profits of the company. Profit sharing may be [...]