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9380 Format of a Payslip: All You Need to Know

Introduction All of us work for monetary and non-monetary benefits and there is no denying the fact that the former is more important for many (if not all) than the latter. Therefore, employees in organizations need to understand the components of the Payslip as this determines how much they are earning (gross and net) as […]

10446 The Need to Actualize Purely Local Responses to Events by Corporates and Individuals

From Global to Glocal to Local: How the Wheel has turned Full Circle There was a time during the initial heyday of globalization in the 1990s when corporates were told by experts and think tanks to think global and become world class in their strategies and responses. During this period, almost everyone who mattered in […]

12357 Are Indian Start-ups and eCommerce Firms Living in Fantasy Land without Profits?

Are Indian Start-ups and eCommerce Firms Living in Fantasy Land? It is a well known fact that India is a favourite destination for yield hungry investors and angel investors keen to fund start-ups and eCommerce firms in the hope that they would be able to garner significant profits at a later stage. Indeed, India is […]

12164 The Problem with REITs

Real estate investment trusts are being extensively used by investors and speculators to bet on the real estate sector. REITs do provide a lot of advantages to investors. For instance, investors with small sums of money can also choose to invest in REIT. This is a major advantage since real estate tends to be very […]

9059 The Economics of Blue Bonds

Oceans account for over 70% of the surface area of the earth. This makes them important for life as well as for commerce. More than 90% of the international cargo around the world passes through water. Also, millions of people depend upon the ocean for their livelihood. Tourism and fishing and many other such occupations […]

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  1. Manpower requirements- The very first step in staffing is to plan the manpower inventory required by a concern in order to match them with the job requirements and demands. Therefore, it involves forecasting and determining the future manpower needs of the concern.

  2. Recruitment- Once the requirements are notified, the concern invites and solicits applications according to the invitations made to the desirable candidates.

  3. Selection- This is the screening step of staffing in which the solicited applications are screened out and suitable candidates are appointed as per the requirements.

  4. Orientation and Placement- Once screening takes place, the appointed candidates are made familiar to the work units and work environment through the orientation programmes. placement takes place by putting right man on the right job.

  5. Training and Development- Training is a part of incentives given to the workers in order to develop and grow them within the concern.

    Training is generally given according to the nature of activities and scope of expansion in it. Along with it, the workers are developed by providing them extra benefits of indepth knowledge of their functional areas.

    Development also includes giving them key and important jobs as a test or examination in order to analyse their performances.

  6. Remuneration- It is a kind of compensation provided monetarily to the employees for their work performances. This is given according to the nature of job- skilled or unskilled, physical or mental, etc. Remuneration forms an important monetary incentive for the employees.

  7. Performance Evaluation- In order to keep a track or record of the behaviour, attitudes as well as opinions of the workers towards their jobs. For this regular assessment is done to evaluate and supervise different work units in a concern. It is basically concerning to know the development cycle and growth patterns of the employeesin a concern.

  8. Promotion and transfer- Promotion is said to be a non- monetary incentive in which the worker is shifted from a higher job demanding bigger responsibilities as well as shifting the workers and transferring them to different work units and branches of the same organization.

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