job is essential for an employer. But retention is even more important than hiring. The employees are valuable assets to the organization so it is the responsibility for the organization to develop the strategies in order to retain the employees. Employee attrition may be due to various factors such as lack of growth opportunities‚ dissatisfaction with the working environment‚ lower payees... As soon as they feel dissatisfied with the current employer or the job‚ theyswitch over to the next job‚
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A Perky Way to Productivity 1) Describe the importance of employee benefits as a strategic component of fulfilling the goals of HRM. The importance of benefits for employees is very high. Lately‚ medical insurance is a target for most unemployed non-exempt individuals. Personally I have seen cases when the pay is at minimum wage for a job that should be paying more‚ but because of the fact the organization provided medical insurance for the workers and their families‚ employees stayed. As
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lecture may be a great idea‚ but it is not what we have in mind when we say that culture influences productivity. Mozart in the morning does not necessarily mean that five extra tonnes of ore will be produced per employee per shift. When we speak of the culture of an organization‚ we refer to the behaviour patterns and standards that bind it together. Some organizational cultures encourage productivity; many do not. Culture should not be confused with climate. Climate is the short-term mood of
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PERFORMANCE BASED COMPENSATION "" HOW IT CAN BE USED STRATEGICALLY IN TODAY’S COMPETITIVE WORKFORCE 1) Definition of Performance Based Compensation Performance based compensation can be defined as programs implemented for recognizing employees’ contributions. Different programs differ according to four different features‚ namely‚ the payment methods‚ the frequency of payout‚ ways of measuring performance and choice of which employees are covered. Performance based compensation is extremely important
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12 (Dec 2011) ISSN: 0974- 6846 Employee retention by motivation K. Sandhya1 and D. Pradeep Kumar2 1 2 Department of Humanities and Social Sciences ‚ JNTUH CEH‚ Kukatpally‚ Hyderabad-500085‚ A.P‚ India Department of Management Science‚ Madanapalle Institute of Science and Technology‚ Madanapalle‚ A.P-517325‚ India sandhyadean@yahoo.com Abstract Employee motivation is one of the important factors that can help the employer to improve employee and organizational performance. Different
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Economics of Human Resources Part 4: Financial Compensation and Motivation Lecture 1: introduction - effort Firms must pay workers to perform tasks that they would not otherwise perform. This is not as straight forward as it seems. We can readily observe a wide variety of compensation schemes that firms use to induce their workers to perform. When is it appropriate to use one particular compensation method instead of another? Note: In previous lectures‚ we talked about choosing
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EMPLOYEE ATTRITION ‘An Analysis of Factors Influencing Attrition in the growing Economies’ INTRODUCTION In the recent decades the Indian industry has changed its outlook. The employment scene has changed its appearance. The factors like skill sets‚ job satisfaction drive the employment and not just the money. The employer hence faces the heat of continuous employee turnover. Continuous efforts are made by organisations to control the employee turnover rate as it directly affects the performance
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POSITIVE ORGANIZATIONAL MORALE: BENEFITS OF STRATEGIC EMPLOYEE APPRECIATION Business Management ABSTRACT Employee is a key element of the organization. The success or failure of the organization depends on employee performance. Therefore‚ organizations are investing huge amount of money on employee development. The purpose of this study is to understand the importance of employee appreciation and how it directly relates to job performance in the workforce. This study will investigate the
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June 1st 2011 Low agricultural productivity Agriculture is the science and industry of managing the growth of plants and animals for make food for human as a food. In general‚ agriculture includes soil cultivation‚ growing and harvesting crops‚ rising and breeding livestock‚ dairy and forestry. There are many important sectors in the world and especially agriculture beside the other related sectors. It is very important for both physical and economical health. However‚ more than 60 percent
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drain. 2. I do believe that the compensation changes at Best Buy could be a major reason for its current difficulties. By demoting 8‚000 senior sales associates to positions that pay half as much is a red flag “no-no” Yes‚ this can cut labor cuts‚ but that can hinder productivity. They also plan to cut 400 corporate jobs‚ which in turn can take away talent that could help Best Buy move its way to the top. I believe the actions they are taking in relation to compensation are understandable in order to
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