Human resource is of paramount importance for the success of any organization. It is a source of strength and aid. Human resources are the wealth of an organization which can help it in achieving its goals.
Human resources management is concerned with the human beings in an organization. It reflects a new outlook which views organization's manpower as its resources and assets. Human resources are the total knowledge, abilities, skills, talents and aptitude of an organization's workforce. The value, ethics, beliefs of the individuals working in an organization also forms a part of human resources.
All the resources in the form of money materials methods and machines would be quite insignificant without the human factor is Men. In the present complex environment no business or organization can exist and grow without appropriate human resources. So human resources have become the focus of attention of every progressive organization.
Tags: Wages and salary administration, Salary management system, Staff salary management, Staff wage management, Salary and wage administration
[...] During the period of prosperity, workers are paid higher wages because management wants to share the profits with labor Job Requirements: Basic wages depend largely on the difficulty level, and physical and mental effort required in a particular job. The relative worth of a job can be estimated through job evaluation. Simple, routine tasks that can be done by many people with minimum skills receive relatively low pay Management Strategy: The overall strategy which a company pursues should determine the remuneration to its employees. [...]
[...] INTRODUCTION TO WAGES AND SALARY ADMINISTRATION Wages and salary administration refers to the establishment of the sound policies and practices of employee compensation. Services rendered by individual to organization have to be adequately paid for. This compensation generally comprises of cash payments which in addition to wages include pension, bonus for good work and shared wages and salary administration is concerned with the financial aspects of needs motivation and rewards. MEANING OF WAGES AND SALARY Wages represents hourly rates of pay and salary refers to the monthly rate of pay, irrespective of the number of hour put in by employee, wages and salaried are subject to increments they differ from employee to employee, and depend on the nature of job, seniority and merit. [...]
[...] Bonus is no longer considered as an extra aggregative payment to the worker, but the worker earns through his hard labor, where wages is unduly low and the employer is in a position to make profits. The worker is entitled to ask for bones out of the profit, after deductions of dividend depreciations and provision for taxations. IMPORTANCE OF WAGES: Whenever minimum wages rates goes below the recommendation, the capacity to pay cannot be taken while fixing the maximum wages. [...]
[...] HRM's objective is to take care of human relationship Other subsidiary objectives are : Manpower planning Recruitment Promotion Career planning Job and salary administration Training, counseling, performance feedback and organizational development. Industrial relations and welfare of workers To make the organization dynamic and vibrant, so that it will adjust to competitive and fast changing environment. ROLE OF HUMAN RESOURCES MANAGEMENT Human Resources Management plays the most crucial role in the management of an organization. Human resources play crucial role in the conversion process of inputs into output. [...]
[...] management may be defined as a set of policies, practices and programs designed to maximize both personal and organization goals. It is such a process by which the people and organization or bound together in such a way that both of them are able to achieve their objectives. NATURE OF HUMAN RESOURCES MANAGEMENT The nature of human resources management has been highlighted in the following features: 1. Integral Part of the Process of Management: Human resources management is embedded in the organization structure of an enterprise, is inherent in its functioning and is an integral part of the process of management itself. [...]
Online readingwith our online reader
Content validatedby our reading committee