Everything you need to know about employee rewards. The reward system of an organization is a tool of recognizing talent. Reward system includes 'group incentive plan' which means giving bonuses to workers in a team. The group incentive schemes are designed to promote teamwork, encourage synergy, and making the team work effectively. The performance and output of the team as [...]
Everything you need to know about the wage and salary administration. 'Wage and Salary Administration' refers to the establishment and implementation of sound policies and practices of employee compensation. It includes such areas as job evaluation, surveys of wage and salaries, analysis of relevant organisational problems, development and maintenance of wage structure, establishing rules for administering wages, wage payments incentives, [...]
Everything you need to know about industrial relations. The term 'Industrial Relations' comprises of two terms- 'Industry' and 'Relations'. "Industry" refers to "any productive activity in which an individual (or a group of individuals) is (are) engaged". By "relations" we mean "the relationships that exist within the industry between the employer and his workmen." In the words of E.F.L. Breach, [...]