Downsizing literally means reducing the size of the organisation in order to cut costs, hive off unprofitable operations and improve operational efficiency. In fact, it is a restructuring process to meet the challenges of the environment. In the context of human resource management, downsizing involves elimination of certain jobs with a view to cut pay bill and improves work efficiency. [...]
One of the most important elements in human resource management is compensation or remuneration. Therefore, it is necessary to frame sound policies and practices for employee compensation. Remuneration is the compensation an employee receives in return for his or her contribution to the organisation. Remuneration is concerned with needs, motivation and rewards. Managers, therefore, analyse and interpret the needs of [...]
Training is concerned with increasing knowledge and skill in doing a particular job and the major burden of training falls upon the business organisation in which the job is located. On the other hand education is concerned with increasing general knowledge and understanding of the total individual. Training is job oriented. Training is practice based. Training and development programmes are [...]