Compensation has long been considered one of the most important organizational rewards because it allows employees to obtain other rewards. Compensation management entails a mechanism that connects employee efforts, performance and outcomes with organizational goals and objectives. Since a large number of employees work in the organization, therefo...

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The work itself is a major determinant of whether to pay for time or output. The work characteristics to consider include: Measurability of output. The relationship between effort and output. The degree of standardization. Requirements for quality as well as quantity. Competitive conditions, which make it imperative that unit labour costs be defini...

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Compensation Planning:The planning stages of compensation management are depicted by the following figure captioned as Compensation Planning: Compensation has long been considered one of the most important organizational rewards because it allows employees to obtain other rewards. Compensation management entails a mechanism that connects employee e...

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Heneman and Schwab (1979) defines pay system as follows: Pay system is the method the organization uses to determine pay raise for individuals which can be computed in terms of the amount of time the employee spends on the job(time-based systems) or his performance or efficiency (performance-based systems). Performance-based systems include individ...

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Management of compensation is a dynamic and complex issue. Compensation ambient globalization of economy is not limited to payment made by organizations to employees for their work, facilitated by labour market and state laws relating to compensation. In today’s organizational set up and with increasing reliance on human resources as  a source of c...

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Compensation Management is the strategic process of aligning pay, incentive and benefits of employees with organizational goals and objectives. Compensation is a formidable communication and can be a powerful instrument for change and a major determinant of the culture of an organization. The process of compensation management is depicted in fig: T...

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Labor Market refers to that geographical area which an organization recruits employees and where individuals seek employment. They labor market is often different for various groups of employees, for example, clerical and technical employees are recruited locally whereas managerial personnel are recruited at national and international level. Many f...

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Alcoholism is a serious and widespread disease. It does not strike any particular group- alcoholism can strike employees from the Janitor to the General Manager. The effects of alcoholism on the worker and in the work are serious. Both the quality and quantity of work decline sharply. A form of “on-the-job Absenteeism” occurs as efficiency declines...

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A Model of Burnout: Burnout is troublesome outcome of stress. It is desirable to examine burnout in detail. Burnout is a state of mind resulting from prolonged exposure to intense emotional stress. It manifest through emotional exhaustion and a combination of negative attitudes. Burnout occurs due to prolonged exposure to stress and that too in pha...

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Stress is an essential part of work life. Certain businesses are more exposed to stress than others. A recent study by ASSOCHAM revealed that construction, shipping, banks, trading houses, electronic and print media, courier companies, small units, retail outlets, card franchise, companies and government hospitals carry higher stress potential. Of ...

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