This article throws light upon the top five methods of wage payment to employees. The methods are: 1. Time Rate System (Fixed Salary Method) 2. Piece Rate System 3. Salary plus Commission on Sales 4. Profit Sharing System 5. Non-Financial System. Method # 1. Time Rate System: It is a system where wages are paid on the basis of time [...]
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 [...]
This article throws light upon the top five models of organisation behaviour which represent beliefs about how managers think and act. The models are: 1. Autocratic Model 2. Custodial Model 3. Supportive Model 4. Collegial Model 5. Systems Model. 1. Autocratic Model: This model assumes that workers are lazy and dislike work. They do not assume responsibility for work and [...]