INTRODUCTION OF THE STUDY
NEED FOR THE STUDY:
The wage and salary administration plays a vital role in Human Resource Management. The Human Resource Management is also plays a vital role in any organization. One of the biggest factors affecting industrial relations is the salary or wage of an employee receives for a fair day’s work.
It is necessary to understand clearly the implications of various concepts and `principles that are related to the area of wage and salary administration.
The wage and salary structure is the most important element in the Management of the employees. It includes areas as job evaluation, maintenance of wage structure, incentives, profit sharing, supplementary payments and control of compensation and other related pay items. The attention has been devoted to the study of internal structure and Human Resource Management Policies.
Need for Sound Salary Administration:
Management has to formulate and administer the salary policies on sound lines as:
Most of the employees’ satisfaction and work performance are based on pay.
Internal inequalities in pay are more serious to certain employees.
Employees compare their pay with that of others.
Employees act only to gross external inequalities.
Employee comparisons of pay are uninfluenced by levels of aspirations and pay history.
Employees compare the pay of different employees with their skill, knowledge, performance, etc.
Evaluating the unsatisfied wants and unreached goals of the employees.
Finding out the dissatisfaction arising from unfulfilled needs and unattained goals.
Adjusting the salary levels accordingly with a view to enabling the employees to reach unreached goals and fulfill the unfulfilled needs.
OBJECTIVES OF THE STUDY
To know about the Wage and Salary administration of the CICB-Chemicon Pvt Limited, Baikampady, Mangalore.
To know about the different types of allowances in the CICB-Chemicon Pvt limited, Baikampady, Mangalore.
To study about the...