HUMAN RESOURCE MANAGEMENT

UG Program in Fashion TechnologyTaught By: Ms.Dimple, FMS Department, NIFT Delhi

Compensation ManagementThe Compensation Program:1.Pay-for-performanec Management2.Hourly or Day Work3.Piecework4.Non-exempt & exempt Personnel5.Wage mix6.Escalator Clauses7.Consumer Price Index (CPI)8.Real wages9.Job evaluation10.Job Ranking System

Relationship of compensation Management to other HRM functions

RECRUITMENT

SELECTION

TRAINING&

DEVELOPMENT

PERFORMANCE APPRAISAL

LABOUR RELATIONS

Rate of pay can aid or impair recruitment

Supply of applicants can affect wages

Rate of pay affects possible degree of selection

Selection standards affect level of pay required

Rate of pay can motivate training efforts

Training & Development can lead to higher rate of pay

Wage rates can bias appraisal of performance

Performance appraisal can be a factor determining rate of pay

Low pay can encourage employees to unionize and union to become militant

Pay rates may be determined through union negotiation

The Compensation Structure

Wage & Salary Surveys

1.Collecting Survey Pattern

2.Employer Initiated Surveys

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