MINDTAP MANAGEMENT FOR DAFT/MARCIC'S UN
MINDTAP MANAGEMENT FOR DAFT/MARCIC'S UN
10th Edition
ISBN: 9781305627789
Author: MARCIC
Publisher: IACCENGAGE
Question
Book Icon
Chapter 9, Problem 6DQ
Summary Introduction

To determine:

The compensation plans for the textile manufacturing plant, waiters in a restaurant and for a salesperson in an insurance company.

Introduction:

Human resource management (HRM) is pre-planning for human resources in the organization which also includes the planning for filling the expected vacancies with appropriate talent in the organization. The Human resource planning includes procedures like choosing recruiting sources, Inviting applications, conducting tests and interviews and planning for retirements, growth, and resignations.

Compensation:

Compensation includes the monetary and nonmonetary payments or facilities given to the employees by the organization. The Compensation includes salaries and other benefits like insurance, travel facilities, accommodations etc. Developing an effective compensation plan is the part of Human resource management (HRM).

Blurred answer
Students have asked these similar questions
Alternative strategies the company can explore to achieve the same objectives without over-reliance on surveillance. objectives are
Reducing Food Wastage and Cost in Sri Lanka Naval Hospital (Colombo) “Proposing a Cost-Effective and Nutritious Menu Plan to Improve Hospital Hospitality"?
The importance of doing a work order as a dietitian manager
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Text book image
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning