The different procedural steps involved in the selection process are:- 1. Job Description 2. Application Forms 3. Employment Tests 4. Interviewing 5. Physical Examination 6. Induction and Orientation. Step # 1. Job Description: i. The first important step of any selection process is to develop job descriptions for the positions to be advertised and filled. ii. A job description is [...]
After reading this article you will learn about:- 1. Definition of Profit Sharing 2. Objectives of Profit Sharing 3. Methods 4. Advantages 5. Limitations. Definition of Profit Sharing: 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 may be [...]
After reading this article you will learn about the incentive schemes for indirect workers:- 1. Incentive Scheme for Labourers, Crane Operators, Set-Up Men, Maintenance Men 2. Incentive Scheme for Supervisory Staff 3. Incentive Scheme for Managerial Staff. Incentive Scheme for Labourers, Crane Operators, Set-Up Men, Maintenance Men, etc. (a) They can be given the same or half the incentive what [...]