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A trade union is an organized group of workers who come together to protect their rights and interests. These unions are formed to ensure fair wages, good working conditions, job security, and other benefits for workers. Trade unions represent employees in different industries, such as manufacturing, construction, education, healthcare, and many more. They work as … Read more
Employees join unions for several reasons, mainly to protect their rights, improve working conditions, and gain job security. Unions provide workers with a collective voice to negotiate with employers, making it easier to address workplace issues. Below are some key reasons why employees join unions: 1. Better Wages and Benefits – Unions negotiate for fair … Read more
Collective bargaining is a process where workers, usually through trade unions, negotiate with employers to determine wages, benefits, working conditions, and other employment-related matters. It helps maintain a fair balance between the rights of workers and the interests of employers. In Nepal, collective bargaining has evolved over time due to economic, political, and legal changes. … Read more
Question: Compensation management is an integral part of human resources, which helps in satisfying the employees and improving organizational effectiveness. In the light of the statement discuss the major determinants of compensation and management. Differentiate between the bonus and gain sharing. Also explain the major issues in compensation management practice in Nepal. Compensation management is … Read more
The Nepalese government has established various laws to ensure fair compensation for workers. These regulations cover wages, welfare provisions, and incentive schemes. Below are the key regulations with their explanations. 1. Wages Regulations 1.1 Minimum Wage The government sets a minimum wage to ensure workers receive fair pay. It is revised periodically based on inflation … Read more
Compensation is a key element in managing human resources as it directly affects employee motivation, performance, job satisfaction, and retention. A well-structured compensation system ensures that employees feel valued, fairly treated, and motivated to contribute to the organization’s success. Below are the ten key reasons why compensation is important in human resource management, along with … Read more
Compensation is the total package of rewards that employees receive in exchange for their work. It isn’t just about the paycheck you see every month; it includes everything from base salaries and hourly wages to bonuses, commissions, and other performance-based incentives. Along with these direct financial rewards, compensation also covers indirect benefits such as health … Read more
Role of incentives in employee motivation In today’s competitive work environment, incentives play a crucial role in motivating employees. Incentives are rewards or benefits offered to employees to encourage high performance, commitment, and productivity. They can be monetary, such as bonuses or commissions, or non-monetary, like recognition, flexible working hours, and career development opportunities. By … Read more
Compensation refers to the total payment and benefits employees receive in exchange for their work. It includes salary, wages, bonuses, allowances, and non-monetary benefits like health insurance, retirement plans, and paid leave. Compensation is a key factor in attracting, motivating, and retaining employees while ensuring fairness and compliance with legal standards. Methods of Determining Employee … Read more
Various Methods of Compensations Government Regulations on Compensation in Nepal Labor Act, 2017Sets rules for minimum wages, working hours, overtime pay, and leave entitlements. It also requires written employment contracts. Minimum WageThe government periodically revises the minimum wage to ensure fair compensation; the current minimum monthly wage is around NPR 17,300. Provident Fund (PF)Both employers … Read more