Tag Archives | Compensation

Compensation Management in HRM

Everything you need to know about compensation management. Compensation or reward management is concerned with the formulation and implementation of strategies and policies which are to reward people fairly, equitably and consistently in accordance with their value to the organizations and to help the organization to achieve its strategic goals. It deals with the design, implementation and maintenance of reward [...]

By |2019-07-15T06:02:48+05:30July 15, 2019|Human Resource Management|Comments Off on Compensation Management in HRM

Types of Compensation

Everything you need to learn about the types and forms of compensation provided to employees in an organization. Compensation is what employees receive in exchange for the services rendered in an organization. The term 'compensation' refers to all forms of financial returns and tangible benefits that employees receive as part of the employment relationship. In the era of globalization, where [...]

By |2019-08-01T16:59:07+05:30May 24, 2019|Types of Compensation|Comments Off on Types of 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
Go to Top