Remuneration is the compensation an employee receives in return for his or her contribution to the organisation. Remuneration occupies an important place in the life of an employee.
His or her standard of living, status in the society, motivation, loyalty, and productivity depend upon [he remuneration he or she receives. For the employer too, employee remuneration is significant because of its contribution to the cost of production.
Besides, many battles (in the form of strikes and lock-outs) are fought between the employer and the employees on issues relating to wages or bonus. For HRM too, employee remuneration is a major function. The HR specialist has a difficult task of fixing wages and wage differentials acceptable to employees and their leaders.
Since employee remuneration is such an important subject, considerable space is devoted in books and periodicals for detailed discussion of wage-related and salary-related problems.
His or her standard of living, status in the society, motivation, loyalty, and productivity depend upon [he remuneration he or she receives. For the employer too, employee remuneration is significant because of its contribution to the cost of production.
Besides, many battles (in the form of strikes and lock-outs) are fought between the employer and the employees on issues relating to wages or bonus. For HRM too, employee remuneration is a major function. The HR specialist has a difficult task of fixing wages and wage differentials acceptable to employees and their leaders.
Since employee remuneration is such an important subject, considerable space is devoted in books and periodicals for detailed discussion of wage-related and salary-related problems.