Compensation is the results or rewards that the employee receives in return for their work. Also, It includes profit sharing, Overtime payment, bonuses, sales commissions, recognition rewards, etc.
Wages and salary
wages mark hourly rates of pay and salary marks as monthly rates of pay for an employee.
Allowances
Incentives and performance-based pay
For example Bonuses, gain-sharing, commissions on the sale
Fringe Benefits
This includes employee benefits such as medical facilities, accident relief, canteen, uniform, recreation, etc.
Training is the use of systematic and planned instruction activities to create learning. Also, it is a highly useful tool which helps to their employees to do their job effectively and efficiently.
Find out moreThe Employee Performance Evaluation process has 10 steps. you will get an idea about those steps in a brief manner.
Find out moreThe systematic process of identifying, measuring, influencing, and developing the job performance of the employees in the organization
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