Chapter I INTRODUCTION 1. MEANING OF WAGE/ COMPENSATION PAYMENT: Wage is a monetary payment made by the employer to his employee for the work done or services rendered. It is a monetary compensation for the services rendered [1]. A worker may be paid Rs. 100 per day or Rs. 4500 per month. This is wage payment. The worker gives his services and takes payment called wage payment. Industrial workers are paid remuneration for their services in terms of money called wage payment. Wages
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Abstract Employee engagement is the emotional commitment an employee shows for the organization and its goals (Kruse 2012). It can also be defined as the act of an employee being involved in‚ enthusiastic about and satisfied with his or her work (Seijts et al..‚ 2006). An engaged employee is one who actually cares and is passionate about his job and company goals. He or she does not work just to get a paycheck rather they work to ensure the organization’s goals are met. An engaged employee brings
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Maria Karayani. Research paper for Training and Development. Employee Motivation Webster University Employee motivation I. Introduction The purpose of this research is to examine the factors‚ which motivate employees‚ what are their personal goals and how this motivation could be increased in order to enhance organization’s performance. This research aims to analyse‚ which factors motivate workers and what could inspire them to fruitfully perform
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Employee benefits 1.) Pogi Company has established a defined benefit pension plan for its employees. Annual payments under the pension plan are equal to 3% of an employee’s highest lifetime salary multiplied by the number of years with the entity. An employee’s salary in 2011 was P500‚000. The employee is expected to retire in 10 years‚ and the salary increase are expected to average 4% per year during the period. On December 31‚ 2011‚ the employee has worked for 15 years‚ The future value
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Evaluating Employee Performance Most companies conduct formal evaluations of every employee at least once a year. At such times‚ each employee meets individually with his or her supervisor‚ and the supervisor reviews and discusses each employee’s job performance. The supervisor often prepares and presents a written evaluation to the employee‚ and a copy of the evaluation is kept in the employee’s personnel file. The evaluation process serves a number of important purposes for both employees and
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Executive Compensation: An agency problem: The globalized world of today has seen many scandals derived from the compensation schemes that are granted to top-level executives from their respective organizations. The compensation policies put in place in organizations are a result of a fundamental agency problem‚ the problem being that of the principal and the agent relationship. The issue arises due to the principal who hires the agent to perform day-to-day management tasks and oversee operations;
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Briefing Developing an Employee Engagement Strategy Sponsored by SurveyMonkey B usiness leaders have long recognized that attracting and company profit‚ employee turnover and occurrence of safety retaining top talent is critical for organizational success. incidents.2 Given that engagement affects organizational Over the past two decades‚ organizations have increasingly outcomes that relate directly to the bottom line‚ companies focused on employee engagement as a way to
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Employee Involvement The direct participation of staff to help an organization fulfill its mission and meet its objectives by applying their own ideas‚ expertise‚ and efforts towards solving problems and making decisions. From this definition‚ participation can include representative participation‚ direct communication‚ and upward problem solving. We will focus on the latter two categories because this article is more about understanding outcomes‚ tools‚ and methods. \The direct participation of
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Issue - July 2011] Employee Development and Its Affect on Employee Performance A Conceptual Framework Abdul Hameed Aamer Waheed Lecturer Management Sciences‚ COMSATS Institute of Information Technology Park Road‚ Islamabad‚ Pakistan E-mail: abdulhameed@comsats.edu.pk Abstract Employee is a key element of the organization. The success or failure of the organization depends on employee performance. Therefore‚ organizations are investing huge amount of money on employee development. This
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and economic development. According to Frederic Engels‚ “ labour is the source of all wealth it is next to nature ‚ which supplies with the materials that it converts in to wealth but it is even definitely more than this”. 1.2 EMPLOYEE WELFARE Employee welfare work aims at providing such service facilities and amenities to the workers employed in factories and industries healthy‚ congenial surroundings conductive to good health and high moral. The aim or objectives of welfare activities
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