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TRAINING, DEVELOPMENT AND COMPENSATION OF HUMAN TALENT - Coggle Diagram
TRAINING, DEVELOPMENT AND COMPENSATION OF HUMAN TALENT
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Remuneration
Traditional Remuneration System
- The classification of jobs in hierarchical grades.
- Salary scales with steps of defined increments.
- Participation in profits and/or bonus systems.
HRM moves away from these traditional compensation and reward systems to more individualized methods of salary determination and other reward methods, with the aim of linking employee compensation more directly to the success or failure of the organization.
- Performance Evaluation
- Salary based on the result
- Individualized profit sharing
- Participation Options
Incentive Program
Incentives and profit sharing are compensation approaches that drive specific achievements.
The incentives establish incentives based on performance and not on seniority or the hours worked.
Profit sharing establishes a relationship between the best performance of the organization and a distribution of the benefits of that best performance of the workers.These Compensation Systems have the objective of:
- Link compensation to performance.
- Reduce compensation costs.
- Increase Teamwork.
Environment of the Incentive and Profit Sharing Systems:
Incentive and profit-sharing systems establish a relationship between compensation costs and organizational performance.
Benefit
They are those facilities, comforts, advantages and services that companies offer their employees.
These benefits can be fully or partially financed by the company.
- Social Objectives
- Objectives of the Organization
- Employee Objectives
- Features Independent of Daily Tasks
- Flexibility in Schedules
- Support for Formal Education
- Financial services
- Social services
- The Administration of Benefits and Services
Administration Problems:
The central problem is represented by the lack of staff participation.
Once the benefit program has been designed, employees often find themselves with conditions that do not meet their real needs.
Traditional Solutions: The traditional solution to the problems that arise in the administration of benefits and services has been to ensure that employees have a better understanding of the package adopted by the company.
An active solution: The Benefits Menu is a program adjustable to individual needs that allows employees to select the services that best suit their needs.