Wage Determination

Wage determination Wages mean any economic compensation paid by the employer under some contract to his workers for the services rendered by them. Wages, therefore, include family allowance, relief pay, financial support and other benefits. But, in the narrower sense wages are the price paid for the services of labour in the process of production […]

Exit Policy and Implications

Exit Policy and Implications The term ‘exit’ means the right of an industrial unit to close down. Exit policy means the policy regarding the retrenchment of the surplus labour force resulting from restructuring of industrial units and workers displaced by the closure of sick units. Exit may become necessary due to strategic reasons, financial constraints […]

HRD Matrix – Instruments, Processes, Outcomes and Organizational Effectiveness

HRD Matrix   The HRD Matrix shows the interrelationships between HRD instruments, processes, outcomes and organisational effectiveness as shown in the following figure: 1. HRD instruments These include performance appraisal, counselling, role analysis, potential development, training, communication policies, job rotations, rewards, job enrichment programmes, etc. These instruments may vary depending on the size of the […]

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