Compensation
CONTAIN
1. MEANING, DEFINITION AND FEATURES OF PROMOTION
2. MERIT AS A BASIS OF PROMOTION
3. SENIOR AS A BASIS OF PROMOTION
4. SENIORITY-CUM-MERIT
5. PROMOTION POLICY
6. MEANING OF WAGE / COMPENSATION PAYMENT
7. IMPORTANCE OF WAGE PAYMENT TO EMPLOYEES EMPLOYER AND GOVERNMENT
8. FACTORS INFLUENCING / DETERMINING WAGE RATES
9. ESSENTAILS OF SOUND WAGE PLAN
10. COMPONANTS OF EMPLOYEE REMUNERATION
11. SYSTEM OF WAGE PAYMENT
12. INCENTIVE SYSTEM OF WAGE PAYMENT
13. FEATURES OF A GOOD INCENTIVES PLAN
14. A NOTE ON TAYLOR'S DIFFERENTIAL PIECE RATE PLAN / SYSTEM
15. PROFIT SHARING AS AGROUP INCENTIVE PLAN
16. POSITION OF PROFIT SHARING IN INDIA
PROMOTION
When there are vacancies in an organization, they can be filled up by the internal or external candidates. Though the organization prefers to fill up the vacancies by the external candidates through the selection procedure, the internal candidates may also apply for post and may be tested and selected for higher level job in the organizational hierarchy at par with external candidates. Is such upward movement of an employee a promotion? Or it is purely selection? It is purely a selection. If the organization prefers to fill a vacancy only by the internal candidates, it assigns that higher level job to the selected employee from within through promotion tests. Such upward movement can be said as promotion.
Definition:-
"Promotion is advancement of an employee to a better job- better in terms of grater responsibility, more prestige or status, greater skills and especially increased rate of pay or salary."
- Paul Pigors and Charles A. Myers.
"The upward reassignment of an individual in an organizational hierarchy, accompanied by increased responsibilities, enhanced status and usually with increased income though not always so."
...
View Full Essay