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
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
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
Compensation refers to the total payment or rewards employees receive in exchange for their work. It includes salary, wages, bonuses, benefits, and other allowances provided by employers. Emerging Issues in Compensation in Nepal: Pay Inequality:There is a big difference in salaries between government and private sector jobs. For example, government employees often get higher pay … Read more
Compensation management is a critical function of human resource management that focuses on designing and implementing fair and competitive pay structures and benefits for employees. It ensures that employees are rewarded appropriately for their contributions while aligning with the organization’s financial capabilities and strategic goals. Effective compensation management helps attract, motivate, and retain talented employees, … Read more
In Nepal, organizations offer various retirement benefit programs to ensure financial security for employees after they stop working. These programs are designed to support individuals in their old age or when they can no longer work. Below are the major types of retirement benefit programs commonly offered by Nepalese organizations: 1. Provident Fund (PF) 2. … Read more
A succession plan is a strategic process used by organizations to identify and develop internal employees with the potential to fill key leadership and critical roles in the future. It ensures business continuity by preparing a pipeline of skilled and capable individuals who can step into important positions when vacancies arise due to retirement, resignation, … Read more
Recruitment and selection are two key processes in hiring employees for an organization. Together, recruitment and selection ensure that the right people are hired for the right roles, which is crucial for the success of any organization. Basic Types of Employment Interviews: Managers use different types of interviews during the selection process to evaluate candidates. … Read more