Remuneration- Influencing factors & challenges

Remuneration- Influencing factors & challenges -...

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Unformatted text preview: Remuneration Internal External Labor Market Cost of Living Labor Unions Government Legislations Society Economy Business Strategy Job Evaluation and Performance Appraisal The Employee Remuneration – Influencing Factors External Factors 1. Labor Market • Demand and supply • Going rate • Productivity 1. Cost of Living • Rising prices • Dearness allowance • CPI 3. Labor Unions • Non-unionised factories • Unionised factories 4. Labor Laws • Payment of wages act 1936 • Minimum wage act 1948 • Payment of bonus act 1965 • equal remuneration act 1976 • Payment of gratuity act 1972 • Companies act 1956 5. Society • Ethical and social considerations 6. The Economy • Depressed economy • Expanding economy Internal Factors 1. Business strategy • Achieve rapid growth • Maintain and protect current earnings 2. Job evaluation and Performance appraisal 3. The employee • Performance • Seniority • Experience • Potential • Luck Remuneration plans and business...
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This note was uploaded on 01/21/2011 for the course BA 1 taught by Professor Spilt during the Spring '10 term at Court Reporting Institute of Dallas.

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Remuneration- Influencing factors & challenges -...

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