Pay structure in a company depends upon several factors. E.g… wage settlements. Labour market situation. Company’s nature and size. etc. Pay structure consists of certain grades. Scale and range of pay in each scale. Each scale has aminimun and a maximum limit. Jobs places within a particular grade carry the same value though the actual pay in a grade depends upon length of service and or performance of the employee. Pay structure in India generally consists of the following components
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INTRODUCTION Holidays and leave entitlements fall into four main categories. They are described in section 3 of the Holidays Act 2003: Section 3: Purpose The purpose of this Act is to promote balance between work and other aspects of employees’ lives and, to that end, to provide employees with minimum entitlements to— (a) annual holidays to provide the opportunity for rest and recreation: (b) public holidays for the observance of days of national, religious, or cultural significance: (c)
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restructuring within the company. The sales department underwent a major shift from individual compensation packages to a team compensation concept that was not immediately embraced by everyone in the organization which led to some defections and put the company in a position to be short staffed. This raised questions about the concept itself and whether it was a workable plan and also if the compensation is an adequate motivator and measure of personal performance. The analysis of this case really
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Compensation Philosophy Paper Name ________ Professor ______ Introduction Compensation is viewed differently, depending on the individual persons perspective (e.g. employee, manager, stockholders, etc.). An employee may view compensation as what is owed to him or her for work performed, while a manager may view pay as an expense. In order for an organization to have an effective compensation strategy, it must consider the various perspectives when creating the organizations compensation
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When a business firm is looking to expand to new locations a popular place is East Asia. Two popular countries are Thailand and Taiwan. It is pertinent to know what is going on in these countries before expanding a business into them. This includes things like environmental regulations and their wage and working hour regulations. These things are important because a company wants to expand they want to ensure that they will still be held in a respectable manner by other business because they are
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programs that present opportunities to lower high employee turnover rate and therefore helps the company cut down overspending from job advertisements and employee training. The document will present how positive orientation programs, competitive compensation packages, job specific training including leadership training will contribute to lowering the employee turnover rate. Thank you for the opportunity for allowing me to be part of this program and I look forward to our company succeeding from these
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Wages: Is There Really a Gender Pay Gap Abstract The wages used in the following research paper were taken from a population of 100 workers and divided by 12 descriptive statistics. The purpose of this research is to determine if there really is a gender gap with wages. The following descriptive statistics were used: wage, industry, occupation, education, location (from the south or not from the south), non-white, Hispanic, female, ex-military, marital status, age and Union. This
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Compensation is a routine approach to granting monetary value to employees in exchange for work completed and can accomplish numerous purposes helping in areas of recruitment, job performance, and job satisfaction. The competitive and global marketplaces as well as employee benefit programs today has become known as necessary tools used by companies to draw creative and useful employees. Meeting the requests and needs of employees can be rather complicated during difficult financial times in which
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Kelly is a 22-year old recent college graduate who signed up to through the Japan Exchange and Teaching (JET) Program. She was hired as an assistant language teacher (ALT) in Soto and was confident that she knew what to expect. After a few months working there, Kelly had gotten the flu and called her boss notifying him that she would not be able to go to work for a couple of days. Her boss was aware that foreigners are known to call in sick to extend the length of their weekends so he asked her
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Running head: MANAGEMENT MANAGEMENT: should college athletes receive monetary compensation? Name Course name Instructor’s name Date of submission Introduction The exploits of student-athletes in sports have variously been advanced as generating a lot of dollars in forms of revenues for their respective institutions, which has generally raised the question as to why they shouldn’t be compensated for their sporting prowess. As noted by Kaufmann (2007), student-athletes generate
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