Executive- Top level executives like CEO, Director and Senior Managers
Why are they given better compensation- Because they run the organization and are responsible for big decisions
Executive compensation consists of-Salary, Bonus, Stock Options, Perquisities
Perquisities-Additional benefits like car driver, leave travel concession, club memberships etc.
Ask me more on executive compensation
You can be a top level executive too! Just work smartly.
Monday, March 23, 2009
Importance of Values in an organization
Values- Formed by an individual (employee) on what he/she thinks good or bad
Values are part of culture- Honesty is part of Omani culture. All employees of Bank Muscat have values of honesty
Values are learnt from society and then employees react- Employees of Oman Air learn warm hospitality from the Omani society and serve the customers accordingly
Values are passed from one generation to another-Parents teaches their children to be truthful and peaceful.
Values are observed in society-All employees working in Bank Muscat acquired the value of customer service, honesty from the Omani society
Values meeting individual needs- Customer satisfaction is liked by individuals.
Students please paste your doubts and I shall answer them.
All the best! You can! So make that difference in your life and career!
Values are part of culture- Honesty is part of Omani culture. All employees of Bank Muscat have values of honesty
Values are learnt from society and then employees react- Employees of Oman Air learn warm hospitality from the Omani society and serve the customers accordingly
Values are passed from one generation to another-Parents teaches their children to be truthful and peaceful.
Values are observed in society-All employees working in Bank Muscat acquired the value of customer service, honesty from the Omani society
Values meeting individual needs- Customer satisfaction is liked by individuals.
Students please paste your doubts and I shall answer them.
All the best! You can! So make that difference in your life and career!
Saturday, March 21, 2009
Benefits to employees
Fringe benefits- Side/Add-on benefits given to employees by employers
Provident Fund- Amount given by employee and employer in equal amount and withdrawn after completing/resigning from service
Pension scheme-Paying a fixed amount to employee after retirement.Also paid to dependents after employee's death
Gratuity-Amount given after termination/resignation of service.Given only after completing five years of service. One months salary for every year completed is given
Insurance benefits- Benefits given to employees and their dependents(wife/young children)for medical treatment on disablement(handicapped during accident),maternity etc.
Fringe benefits are long term benefits
Fringe benefits are given to all
Fringe benefit given to all employees (not only to best employees)without considering productivity
Students send in your doubts on Non-financial incentives
You are all intelligent! Let us use this intelligence and grow! You can do that!
Provident Fund- Amount given by employee and employer in equal amount and withdrawn after completing/resigning from service
Pension scheme-Paying a fixed amount to employee after retirement.Also paid to dependents after employee's death
Gratuity-Amount given after termination/resignation of service.Given only after completing five years of service. One months salary for every year completed is given
Insurance benefits- Benefits given to employees and their dependents(wife/young children)for medical treatment on disablement(handicapped during accident),maternity etc.
Fringe benefits are long term benefits
Fringe benefits are given to all
Fringe benefit given to all employees (not only to best employees)without considering productivity
Students send in your doubts on Non-financial incentives
You are all intelligent! Let us use this intelligence and grow! You can do that!
Words and Meanings from Compensation and Benefits
Compensation-Monetary amount paid against the work/effort contributed for an individual or an organization
Benefits- Add-ons given to employees as monetary or non-monetary benefits
Organization-Place where two or more people join for a cause which results in transaction(exchange of products/services for money)
Environment-Surrounding of an organization
General Environment- Consists of demographic(related to population),economic(state of country and global financial status),social(society related)factors
Task Environment-Factors having direct impact on organization like customers, suppliers(one who provides raw materials), government regulations(rules laid down by government),Labour supply(availability of manpower),technology(new devices/technical tools which makes business easy)
Students please include more words which you find difficult along with any doubts and I shall answer those for your benefits.
You are a winner, and you can always win! Let's do it together!
Benefits- Add-ons given to employees as monetary or non-monetary benefits
Organization-Place where two or more people join for a cause which results in transaction(exchange of products/services for money)
Environment-Surrounding of an organization
General Environment- Consists of demographic(related to population),economic(state of country and global financial status),social(society related)factors
Task Environment-Factors having direct impact on organization like customers, suppliers(one who provides raw materials), government regulations(rules laid down by government),Labour supply(availability of manpower),technology(new devices/technical tools which makes business easy)
Students please include more words which you find difficult along with any doubts and I shall answer those for your benefits.
You are a winner, and you can always win! Let's do it together!
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