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Questions
Explain the compensation function of Human Resource Management.
Explain the compensation function of Human Resource.
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Solution
Compensation Function: It refers to providing equitable and fair remuneration to employees for their contribution to the attainment of organisational objectives. It consists of the following activities:
- Job evaluation: is the process of determining the relative worth of a job.
- Wage and Salary Administration: It implies developing and operating a suitable wage and salary programme. Surveys are conducted to determine the wage and salary structure for various jobs in the organisation.
- Bonus: It involves the payment of a bonus under the Payment of Bonus Act, 1965, as well as non-statutory bonuses and other incentives.
RELATED QUESTIONS
Planning is a ______ function.
State the functions of Human Resource Management.
Elaborate on the Managerial functions of Human Resource Management.
Which function of Human Resource Management deals with handling employee grievances, conflict resolution and employee counselling?
Which of the following is not the development function of human resource management?
Which of the following is the development function of human resource management?
It is the process of studying in detail the operations and responsibilities involved in a job so as to identify the nature and level of human resources required to perform the job effectively.
It is concerned with protecting and promoting the physical and mental health of employees.
One of the Maintenance functions of Human Resource Management is ______.
Discuss the various activities of development function of Human Resource Management.
