Compensation: Policies & Practices And Its Impact On Employee Commitment In The Hospitality Industry
Journal Title: International Journal of Humanities and Social Science Invention - Year 2018, Vol 7, Issue 4
Abstract
Wage and salary administration is one of the most important areas of H.R.M. Wage and salaries represent a substantial part of total costs in most of the organization. Today's H.R management is caught between the conflicting interests or the employees and the employers. A good compensation plan is to motivate employees; job satisfaction controls compensation costs and ensures equity. Wage is compensation to the employees for services rendered to the organization. In case the quant urn of services rendered is difficult to measure, then the payment is called salary. Normally, the wage period is shorter than the salary period. Some experts argue that wages are the compensation of the wage earners, the numerous employees who use the tools and equipment’s for their employers to produce goods and services that are sold by their employers. There is a need to examine the significant relationship between compensation and employees’ commitment and determines compensation packages in an organization in the hotel industry. This paper examines and tries to compare the views of employees working in different hotels of Kolkata. This research is empirical in nature and is based on primary data collected directly from the concerned employees by means of interview and questionnaire to rate various criterion. The data so collected has been subjected to reliability tests and analyzed using SPSS 16.0. This study will help employers to understand employee needs and plan welfare and development activities more in line with employee requirements in order to increase efficiency and decrease attrition rates.
Authors and Affiliations
Krishnendu Hazra, Prof. (Dr. ) Partha Pratim Sengupta, Dr Sumit Kr Biswakarma
Keywords
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