salary is the monitory benift for the managerial grade and
issued on a monthly basis(mostly). this does not indicate
the number of hours worked in specific. those employees who
are in the payroll of the company are entitled for salary.
wages are monitory and applicable for the labour workforce.
this purely is based on the number of days worked, hours of
work, quantity of workload, etc.... these employees may not
be in the payroll.....may be partime employees, contracts
according to my knowledge
salary consists of HRA, DA, PF, ESI ( if GFR < 10,000/-),
prof. Dev., LTA & etc., which are paid to onroll employees
on monthly basis.
Wage - may paid on hourly/daily/weekly/monthly basis which
also consists of the piece rate system/ work assigned (
unskilled/skilled labour) and also for those who are on
contract basis. they donot contain any HRA, LTA and so on.,
Wages which is paid to production team, those who are directly link with the product manufacturing activities. It will be paid on the basis of hours, days, monthly. It is 75% of physical and 25% of metal activity involved.
Salary which is paid to those who are indirectly link with manufacturing activities. That is Managerial, administration, purchase, sales, Marketing team etc., It is 90% mental and 10% physical activity involved.
salary is mostly being paid to employees working in the
public sector.Their pays are often received on a monthly
basis but their payment is fixed. So no matter how many
hours you work you will receive the same payment periodlly.
Wages are mainly paid to employees in the private sector.
These are private companies not state owned. Their payment
are received fortnightly on a regular basis. If they work
overtime, eventually they will receive more than their
actual payment. Also in the private sector they use
remunerations such as compensation bonuses rewards and
The contexts in which human resources are managed in
today's organizations are constantly, changing.
No longer do firms utilize one set of manufacturing
processes, employ a homogeneous group of loyal
employees for long periods of time or develop one set way
of structuring how work is done and
supervisory responsibility is assigned. Continuous changes
in who organizations employ and what these
employees do require HR practices and systems that are well
conceived and effectively implemented to
ensure high performance and continued success.
1. Automated technologies nowadays require more technically
trained employees possessing multifarious
skills to repair, adjust or improve existing processes. The
firms can't expect these employees (Gen X
employees, possessing superior technical knowledge and
skills, whose attitudes and perceptions toward
work are significantly different from those of their
predecessor organizations: like greater self control,
less interest in job security; no expectations of long term
employment; greater participation urge in work
activities, demanding opportunities for personal growth and
creativity) to stay on without attractive
compensation packages and novel reward schemes.
2. Technology driven companies are led by project teams,
possessing diverse skills, experience and
expertise. Flexible and dynamic organizational structures
are needed to take care of the expectations of
managers, technicians and analysts who combine their
skills, expertise and experience to meet changing
customer needs and competitive pressures.
3. Cost cutting efforts have led to the decimation of
unwanted layers in organizational hierarchy in recent
times. This, in turn, has brought in the problem of
managing plateau employees whose careers seem to
have been hit by the delivering process. Organizations are,
therefore, made to find alternative career paths
for such employees.
Examination Paper Semester I: Human Resource Management
IIBM Institute of Business Management
4. Both young and old workers, these days, have values and
attitudes that stress less loyalty to the
company and more loyalty to oneself and one's career than
those shown by employees in the past,
Organizations, therefore, have to devise appropriate HR
policies and strategies so as to prevent the flight
of talented employees
1. Discuss that technological breakthrough has brought a
radical changes in HRM