Succession planning refers to the plans, which a company formulates to fill its most important executive positions. In practice the process of succession planning involves a fairly complicated and integrated series of steps. According to American Society for Training and Development, "Succession planning entails identification of employees who possess the skills to meet future organizational challenges". Learn about: 1. Introduction [...]
Fringe benefits refer to those benefits and services that are extended by the employer to his/her employees over and above their wages and salaries, such as housing, transportation, subsidized meals, medical care, paid holidays, and the like. According to D. Belcher, "Fringe benefits are any wage cost not directly connected with the employees' productive effort, performance, service, or sacrifice." Learn [...]
Everything you need to know about the measures adopted to minimise employee absenteeism. Absenteeism is a serious problem which affects both organizations and employees. While organizations have to bear extra costs, employees have to suffer in the form of lower earnings because of absenteeism. From the national point of view, absenteeism is a negative factor because it affects national output [...]
The main benefit of any grievance procedure or system is that it encourages human problems to be brought into the open so that the management can learn about those, and try corrective actions. Many suggest that grievances should be settled on the spot directly and without delay between the supervisor or foreman, and the worker. Sometimes, the foreman or the [...]
Career planning is the process by which one fixes career goals and lays down the path to these goals. The major focus of career planning is on assisting the employees achieve a better match between personal goals and the opportunities that realistically available in the organisation. Career planning means helping the employees to plan their careers in terms of their [...]
Everything you need to know about career development. Career development is a process that takes place over the life span and on the assumption that biological, psychological, sociological, and cultural factors influence carrier choice, career changes, and career withdrawal across the stages of development. All these are based on development theories. The developmental career theory choices life span is of [...]
Everything you need to know about profit sharing. Profit sharing is a method of industrial remuneration under which an employer pays his employees a share in the annual net profits of the enterprise as fixed in advance. The share is in addition to wages is not based on time or output. Profit sharing ill not a system of wage payment. [...]
Everything you need to know about the types of employee benefits. Employers can offer a wide variety of benefits to their employees. Benefits are designed to help employees meet basic needs they might not otherwise be able to meet on their own. For instance, the high cost of health insurance is often offset by employer contributions to the employee's premium. [...]
Everything you need to know about the traditional methods of performance appraisal. Performance of employees can be evaluated with the help of both traditional and modern methods of appraisal. Appraisal can also be either informal or formal. Informal appraisal is carried out in order to communicate to the subordinates about their performance on a day to day basis. Traditional methods [...]
Everything you need to know about the methods of performance appraisal. Performance appraisal is a formal system that evaluates the quality of a worker's performance. The appraisal measures skills and accomplishments with reasonable accuracy and uniformity. It provides a way to help identify areas for performance enhancement and to help promote professional growth. Some of the methods of performance appraisal [...]