International Compensation Management: Components and Approaches
Designing and developing a better compensation package for HR professionals for the international assignments requires knowledge of taxation, employment laws, and foreign currency fluctuation by the HR professionals. Moreover, the […]
Voluntary retirement scheme
is a method used by companies to reduce surplus staff. This mode has come about in India as labour laws do not permit direct retrenchment of unionized employees. VRS applies […]
Profit Sharing Scheme
Profit sharing schemes may effectively supplement other incentive plans. Profit sharing is a scheme to augment the compensation of workers through the sharing of profits of the company. Profit sharing […]
D.A. Incentives Plans
Payment of dearness allowance is made to the employees under wages/pay packet. It is paid by the employers to the employees in order to provide relief to the latter against […]
Components of Compensation
In crafting the executive compensation program, companies need to determine where they want to position their compensation relative to the market. Most want to be at the market median, while […]
Executive Compensation
A well-designed executive compensation plan focuses on a number of important objectives. It attracts and retains the talent necessary to lead complex organizations to success. It aligns the interests of […]
Issues in Compensation Management
Compensation structures are a leading issue for human resources departments in companies of all sizes. In a small business, the issue takes on greater significance, because most small business budgets […]
Theories of Compensation
The Compensation is the remuneration given to the employees for the work they do for the organization. In other words, an employee is entitled to both the financial and the […]
Job Grading
Grading method is also known as ‘classification method’. This method of job evaluation was made popular by the U.S. Civil Service Commission. Under this method, job grades or classes are […]
