Everything you need to know about the principles of wage and salary administration. Wage and salary administration is one of the vital areas of personnel administration, for sound wage and salary policies and programmes are essential to procure, maintain, develop, promote and transfer employees and to get effective results from them. Administration of employee compensation is called compensation management or [...]
Everything you need to know about the theories of wages. Wage means "any economic compensation paid by the employer under some contract to his workers for the services rendered by them". It includes family allowance, relief pay, financial support and other benefits. In the narrower sense wages are the price paid for the services of labour in the process of [...]
Everything you need to know about promotion of employees in an organization. Promotion means advancement in terms of job designation, salary and benefits. The employee progresses to a better job with increased responsibility, more prestige and status. It is basically a reward for efficiency promotion is conferment of additional benefits, usually is the form of higher pay, for an increase [...]