UNIT – I Lesson 1 HRM – AN OVERVIEW Lesson Outline Nature of ...

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Other points that may be covered in a wage policy may include the ratio of fixed wage versus variable pay, the ratio of gross pay versus ‘take home’ pay, the lower and upper limits of wages and perquisites, the wage differentials between the highest paid and the lowest paid worker, possibilities of profit-sharing and such other matters, as may be considered relevant. An organization establishes compensation policies that determine whether it will be a pay leader, pay follower or strive for an average position in the labor market. Pay leaders are organizations that pay higher wages and salaries than competing firms. Using this strategy, an organization would aim to attract high-quality, talented and productive employees with whom they could achieve lowering of per unit labor costs. Pay followers are organizations that choose to pay below the going rate in the market because of a poor financial condition or a belief that they simply do not require highly qualified employees. Difficulties occur when this policy is followed, as only less committed, desperate and poorly equipped personnel tend to join a firm with such policies of remuneration. Those who choose to pay an average rate, appear to believe that they could employ requisite number of qualified people at the same time remaining competitive, as they would not have to increase the selling price of goods and services on account of salaries paid. A policy on wages, salaries or perks should cover the due date of subsequent review, the method of review, rules for hiring below the minimum, at minimum and above minimum rates, and the authority and control for making changes in wage patterns. The policies might also cover the percentage of raises permissible during promotions, the cost of living allowance (COLA) or the Cost of Living Indices and related adjustments to wages, rules for special raises, criteria for fixing annual increments based on merit and seniority and schemes of flexible payment and benefits. 4.6. Compensation and Benefits A system of wage and salary administration should be carried out in such a manner that employees are attracted, retained, motivated, recognized, appreciated, treated fairly and equitably. Some organizations choose to pay high salaries and confine themselves with the statutory benefits. Some organizations try to offer unique and elaborate schemes of benefits while restricting their pay scales to the minimum levels permitted by market conditions. The system should also ensure accurate calculation of earnings owed to each of the employees for purposes like overtime, performance rewards, incentives payments and allowances, by the employer and make sure that pay is distributed in time and with
proper records. The system should control costs, comply with the statutes and be easy to administer. 4.7. Wage Fixation Wage is fixed based on the value of the amount fixed by wage boards, cost of living in the locality, productivity shown and promised by workers, work to the organization, the scarcity of the skill in the labor market, the difficulties in the job that determine the number of people willing to undertake the job, the affordability of the employer, the extent of prosperity in the industry in a given period and based on the bargaining power of the workers and their unions. Wage-Productivity relationship is ordinarily taken as a rational basis for wage revision. An increase in output per unit of labor is always a ground for workers to press their claim for higher wages as their due share of the rise in profits. Wages may be of two types such as time rate and piece rate. They are fixed with the help of industrial engineering and Personnel departments and are administered by the payroll departments, according to the provisions of the payment of wages law at rates equal to or above the minimum wage law. Equal remuneration for equal work without any discrimination on grounds of gender has been guaranteed by the law. Wage laws insist that wage be paid in cash and not in kind. They also state that the maximum permissible wage period would be thirty days. They even specify the list of deductions permissible, subject to a ceiling. Recovery of loans, contributions towards social security measures like Provident Fund and Employees’ insurance, damages recoverable from the employees for loss incurred due to the person by the employer, etc. are some of the authorized deductions. 4.8. Incentive Schemes The term ‘Incentive’ means inducements offered in order to get better outputs from people. Incentive schemes are used to enhance the motivation level by tapping the ambitions of the employees to earn more. Incentives tend to influence individuals to stretch their capacities and personal objectives and carry out special tasks and take initiative. Incentives become necessary because people with less ability to perform a specific task but stronger will or motivation are able to perform better than people with superior ability and lack of will. Group incentives have the potential to harness individual efforts towards greater teamwork and synergy. 4.9 JOB EVALUATION
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Lesson Outline � Nature of HRM
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Definition of HRM According to Flip
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Concept of HRM Human Resources are
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Taylor developed four principles of
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Systems Approach Era A system may b
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Relevance of HRM HRM is relevant in
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• Subscribe to the aims and objec
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• every opportunity for advanceme
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5. System approach - set of interde
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Introduction Organisation structure
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An organization structure should be
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2. Grouping of Activities Closely r
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operation. While line authority flo
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i. Divergent background Line and st
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Proto type dev. Dev = Development A
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Pure product Type Organization Here
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elationship. There is a need for un
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INTRODUCTION Modern business manage
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Features of HRM as a system The fol
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Industrial Relations Subsystems Mai
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Selection process � Short listing
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MERIT RATING b. Point comparison me
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Lay - Off i. Unsatisfactory perform
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Causes for Industrial Disputes Fina
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4. Job evaluation is the evaluation
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Introduction The primary objective
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Functions The functions performed b
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� Recruiting and selecting person
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Emerging HRM functions: Increasing
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7. PM emphasizes on economic reward
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1. Its objectives are manifold. The
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Introduction Environment comprises
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Political environment covers the im
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* Partnership - A joint business, w
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Employee’s State Insurance Act, 1
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Under this Act, on completion of 5
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Summary 3. Explain the role of Gove
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Introduction Though human resource
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According to Udai Pareek, “it is
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The following techniques are usuall
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outside. But in an existing organis
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HRP is not a static one-shot plan t
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Lesson Outline � Why HRIS? � HR
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STORING Same of the applications wh
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SELECTION OF PROJECT TEAM Once the
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Data storage and processing Benefit
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monitoring, vii) Performance apprai
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Introduction Recruitment, selection
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viz., Exchange (Compulsory Notifica
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establishments having 25 workers or
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) Strategy development c) Searching
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Selection process Following are the
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advice youth or job seekers regardi
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a) Deciding the objectives - The ob
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7. The interviewers should also evi
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Information induction In this syste
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LESSON 9 PERFORMANCE AND POTENTIAL
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organizations often use a combinati
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tempered. But the fact is fact. Eve
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i. The employee is hard working ii.
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The essay method is useful in provi
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v. Development of the BARS instrume
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Page 127 and 128: Lesson Outline � Speciality of Vi
Page 129 and 130: � Customer orientation � Sharin
Page 131 and 132: � Adaptability. � Knowledge abo
Page 133 and 134: The characteristics of virtual orga
Page 135 and 136: g. To differentiate forms of intern
Page 137 and 138: 3.5 Training and Development Method
Page 139 and 140: sensitivities and work more harmoni
Page 141 and 142: meet the growing needs of the indus
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Page 149 and 150: positions occupied by a person duri
Page 151 and 152: 3.15 Career Stages: There are four
Page 153 and 154: 3.17 Promotions, Demotions and Tran
Page 155 and 156: merit and untainted by favoritism.
Page 157 and 158: employees may feel it uncomfortable
Page 159 and 160: 3.20 Conditions Necessary for Empow
Page 161 and 162: enabling them to concentrate on mor
Page 163 and 164: etirement package before redesignin
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Page 167 and 168: targeted for removal. To top it all
Page 169 and 170: 12. Write a proposal for conducting
Page 171 and 172: 2. R.W Mondy, R.M. Noe and S.R. Pre
Page 173 and 174: 4.1 Introduction Human resource act
Page 175: * The base salary range for Project
Page 179 and 180: Once the jobs that are to be evalua
Page 181 and 182: is not paying above market rate and
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Page 187 and 188: what they are doing is a prerequisi
Page 189 and 190: ecoming) and self-fulfillment. Abra
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Page 193 and 194: This theory proposes that an indivi
Page 195 and 196: atings he or she would receive. At
Page 197 and 198: 6. Maintain positive health buffers
Page 199 and 200: could be the causes of residual eff
Page 201 and 202: Analyzing the conceptualizations of
Page 203 and 204: the employees to meet the needs of
Page 205 and 206: 3. Comment on the recent trend in o
Page 207 and 208: 5. Motivation: The set of processes
Page 209 and 210: MEANING AND DEFINITION UNIT V LESSO
Page 211 and 212: • IR has moral dimensions, too. I
Page 213 and 214: TRADE UNIONS Trade unions constitut
Page 215 and 216: • DETAILED SUPERVISORY TRAINING T
Page 217 and 218: ORIGIN • Trade unions are the cre
Page 219 and 220: PRINCIPLES Trade unions function on
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Page 225 and 226: may in some cases, attempt reprisal
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• Communication They keep members
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• Disputes of Right, which relate
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(iii) Grievance procedure COLLECTIV
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• Mediation is a process by which
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MEANING AND DEFINITION LESSON- IV C
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Collective bargaining has benefits
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• Administrative Issues NEGOTIATI
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MEANING AND DEFINITION Lesson - V M
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• Work-related pressures and trai
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MC GREGOR’S RED HOT STOVE RULE On
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Negative Feedback. In some organiza
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DEMOTION If no improvement is notic
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MEANING AND DEFINITION LESSON - VI
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• The Increased Use Of Technology
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IMPORTANCE OF PARTICIPATION • The
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• The management and the workers
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UNIT – I Lesson 1 HRM – AN OVERVIEW Lesson Outline Nature of ...

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