Performance Appraisal system must be well-defined, corporately supported and monitored. It must be widely communicated and focused towards achieving corporate objectives. In essence, a performance appraisal system must be integrated achieving corporate objectives. In essence, performance appraisal system must be integrated as part of a performance ...

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What are the Sources of Performance Appraisal: Combination of group and Individual appraisal: Performance appraisal evaluates employees who frequently aspire to improve their performance rather than their service. To avoid this situation, teamwork is necessary. In some cases, individual appraisal is needed and in others, group appraisal is needed. ...

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Theories of Job Satisfaction: These theories are related to job satisfaction and then explore the linkage of compensation and employee satisfaction. Comparison Theory: This theory specifics that employees compare what their jobs should provide (e.g. promotions and compensation)to what they currently receive from their jobs.  However simple need com...

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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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