Corporate Strategies to beat the Downturn: Cutting Slack and Layoffs
February 12, 2025
Automating the Recruitment Activities and Tasks Much of the work that the HR Function does is routine and repetitive in nature. Starting with the recruitment process, including training and development, as well as performance management, the work that the HR does consists of manual and routine tasks that can be automated and hence, save time […]
Every organization expects its employees to behave sensibly, adhere to the rules and regulations and follow the codes of conduct. There has to be some ethics at workplace, where every individual is morally responsible for his/her own behaviour. Do not attend office just to receive your monthly paycheck. Yes, money is a strong motivating factor […]
How the HR Scorecard Helps Organizations What is the HR Scorecard? It is a tool that measures the performance of the Human Resources (HR) Function using data and aligns the same with the other functions in terms of costs and benefits. In other words, the HR Scorecard is a useful tool to record the costs […]
Talent management can be a discipline as big as the HR function itself or a small bunch of initiatives aimed at people and organization development. Different organizations utilize talent management for their benefits. This is as per the size of the organization and their belief in the practice. It could just include a simple interview […]
Communication helps living being (human beings, animals, even birds) share their feelings with others. Information sharing takes place through effective communication. Communication plays an important role in development of employees. Communication helps in the exchange of ideas, thoughts and information through speech, signals, writing and so on. How would you feel if you are not […]
In the previous article (Part I) we looked at some of the components of compensation that are paid out to employees and the way in which these components are fixed by HR managers and companies. In this article (Part II), we shall look at some components of compensation like Basic and Variable Pay (including the sub-components of variable pay) and discuss how these are fixed by the firms when they sign off on the compensation packages to their employees.
To take the first component that is common to all packages at all levels (hence the term basic - however, it is not the same for all levels).
If we take the three sub-components of the Variable Pay -
The rationale for these components is that an employee would be better motivated to perform individually, contribute to the group to which he or she belongs and finally, perform well keeping in view the overall growth of the company. Hence, these sub components of compensation have been designed to spur the employee to excel not only in an individual capacity but as a team member and finally, a responsible employee of the company. The idea here is to discourage silo based performance and instead concentrate on all round performance.
In the articles to follow, we shall look at how employees can negotiate their compensation by following some tips that we shall provide.
Your email address will not be published. Required fields are marked *