All posts by BusinessMgtblog

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Main Reason to be Happy

Hey, can you be like this… I am also trying to be like this.

How many times you feel grateful for what you have. Do a small work for you.

Take a peace of paper and write what you have alredy and what about your idea regarding that. Normaly you will receive more negatives than positives. If you have more positive counts then you are a happy person. Don’t be demotivate if you have more negative counts. Try to prctice that.

Sometimes I am also worry about things which I cannot achieved. Believe me in my life most of the achievements I loss from a small gap. Sometimes I feel I am not much lucky enough to put into my mouth which i have in my hand.

Also if you are not grateful for what you alredy have, you may kick your oppertunity to feel that. But after it goes sometimes you may worry about that.

So train your mind to see the good in everything. Then you can get ability to speak to the world

” yes, I am grateful”

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Management of Incentive

Incentive is a special reward that drives an employee to perform beyond the normal level of performance. Also incentive can identify as something additional than base salary. Basically incentive pay for performance. This link reward cost and organizational performance. Incentive alternatively called as variable pay and contingent pay.

Management of incentives can defined as the process of development, implementation, and maintenance of a fair and adequate system of incentive.

If employee perform in normal level of performance or non performance in normal level both of those receive base salary and wages.

Importance

  • Provide real motivation for the employee.
  • Incentive payments are variable costs link to the achievement of result.
  • Good way to evaluate organization hard work prople1s performance.
  • Help to attract only top performances, when salary budgets are low.
  • Incentive encourage team work and unit cohesiveness. (When payments based on team result)

Types of Incentive Plan

Individual Incentive Plan

Focus on individual job performance. This discourage team work. This may develop β€œhostiled atmosphere” among employees some may be jealous on others. Performance threshold in minimum level of performance to qualified to meet incentive payment.

  • Piece work

– Straight peace work

Employee pay a sum for each unit produce by him.

Ex: organization pay 1$ per 1unit. Normal produce 50 units per 1hour if employee produce 60 units per 1hour. Other extra units also pay as using same peace amount.

– Differencial piece rate

Employee paid piece rate for each of the units upto standard outputs. Higher piece rate for each unit produce over the standard.

Ex: Upto 50 units per 1hour organization pay 1$ per 1 units. Extra units than 50 units per 1hour, each piece paid as 3$.

  • Standard hour plan

Employer pay incentive if employee complete the work in less than standard time. This method use service organizations.

  • Bonuses

One time payment usually per year. This is an additional income for the employee. Common among managerial and incentive employees.

2 ways of paying bonuses

– Certain Parentage of base salary.

– Monthly wise ( give monthly salary as bonus )

  • Merit pay

Paid based on employee individual performance measured through employee performance evaluation system. Usually become a part of employee base pay. This payment add for base salary. After that also calculate EPF and ETF amounts. Merit pay is cumulative.

  • Lum-Sum Merit pay

This not add to the base salary. This is not cumulative. After job performance review, calculate this amount.

Team Incentive Plan

Focus on group job performance and paid collectively. For high performance organization pay high incentive. This motivate employees to engage with team work.

  • Team incentive plan

Organization give time frame for team, if they achieve target within the given time period then they receive incentive.

  • Gain sharing

Advantage which have obtain by effort of employees.

Advantages- Increase cohesiveness

Increase employee motivation

Organization team culture will be develop

Knowledge sharing will happen

Disadvantages – Free-write effect ( some people are gain incentive without performing)

Inter group conflicts happen

Low performance people become demotivate

Complex payout formula difficult to understand for everyone

Organizational Incentive Plan

Focus on entire organizational performance. Incentives are paid organizationally. This reduce competition among employee. Encourage all employees work together to generate better organizational outcomes. Based on hierarchy incentive amount will depend.

  • Profit sharing

Shares profit among all the employees within organization.

  • Stock options

This is the way of achieving employee ownership. This give employees the opportunity to buy a company shares at a previously fixed price.

  • Employee stock ownership

That gives employees certain tax and financial advantages when stock is granted to employees.

Merry Christmas guys!!!

Hope your Christmas is a perfect measure of fun and laughter!!!! πŸŽ„ πŸ˜β›„ ❄

Merry Christmas guys!!!

What are the Strategies for improving Helath & Safety?

Strategies for minimizing Occupational Accident

  • Environment design Have to design work environment in safety manner. In here we should store dangerous equipments and tools in a separate place. Request employees to use safe equipments. Such as helmet, eye guard, boots, gloves and nail guard.
  • Floor cleaning should maintain clean floor. It should not be wet. It is best to follow daily floor cleaning method.
  • Maintenance. Should do reapair and maintain machines frequently. Should follow maintenance plan. Through that can avoid corrective maintenance and accidents to the employees.
  • Continues Inspection. Before and after working, regulatory should check machines to identify whether those machines are working or not. As an example cleaning dust, check oil level and so on.
  • Safety Training and Education. HR division can provide training to prevent from accident. Such as fire training. In here can take machine operators involvement to do machine maintenance work. Because of that they will operate machine more carefully.

Strategies for minimizing Occupational Diseases

  • Medical Examination. can conduct medical test annually, semi annually, quarterly and so on. Participation of every workers are very important.
  • Physical fitness program. Conduct various exercise sessions for workers. Such as jimnasium, yoga classes and etc.
  • Health Education. Through doctors conduct seminars and workshops provide health education for workers.
  • Enclosure keeping such hazard thing keep away from every employees. It is good to use separate place for that.
  • Maintain Sound Physical Working Conditions such as ventilation, lightning, air conditions.

Strategies for minimizing low quality of work life

  • Redesign jobs by considefing both efficiency elements (standardization, specialization) and behavioral elements in order to ensure a proper balance.
  • Apply job enrichment. Give power to plan, do and control the job.
  • Obtain opinion, suggestions and comments from employee before making decisions.

Strategies for minimizing Organizational Stress

  • Ensure job security of the employees.
  • Provide training to reduce stress.
  • Ensure carrer development and give facilities for that. Carrer development is series of job that one person perform with his work period.
  • Give fair and sufficient usages of salaries.

Good Morning…..

Hi guys after long time.

Very Good Morning to all!!

I am also believe my mind as a magnet. Aren’t you?

You know we don’t want to let problems to come to our life. We really want positive things in life. Even we want positive things are always our life full with positive. You and me know it is not like that. However we have to accept that bitter truth.

So what should we do to convert those problems to good things.

Don’t think more about problems. Then your mind will attract more problems. will think about way to solve that problems.

And guys will practice to think about positive thoughts.

At least, this will help to reduce attracting more problems to your life.

Believe me guys it will work on you positive way.

So always remain positive & optimistic….! 😊😍

Good morning

Believe me even good things are late to come we have to believe on that. That will definitely come to us in shorter period.

If you haven’t ability to be patient then you will miss better things of your life. Sometimes you believe on that but you have hurry to grab that, then you will defenetly miss that better things.

Even world told you to give up something you should not give up. At least you shoud try one time. When you’re not give up your life goals defenetly you can grab best things.

So believe, patient and don’t give up. This will help to grap best things of your life.

Keep in mind guys.

Again wishing you a very good morning and have a great day friends. 😍

Shall we work on our dreamz….

Hi guys. 😊 This days i am pack with my degree program exams. That’s why I couldn’t able to publish any post. Sry for that.

I am here to continue my previous post which titled ” Have you any dreams.. Shall we plan.”

Will start work on our dreams.


Only planning is not enough. We should start works according to the plan. Without working, you can’t win the world. You should keep in your mind anyone can plan but only few people can work to fulfil their plan. But this will depend on your commitment. And also you should start to love for your dream. Then also your mind give some track for your dream fulfillment.

You know most of the success people are the who work on their dreams. They do more and more works. Sometimes they were fail but they are not let their dreams to be a dream.

However if you want to fulfil your dream you should be in a side of working people.

Be Happy….

Even you want to fulfil your dream you should not loose happy moments in your life. Enjoy a every moment in your life because life is not give any second chance for you to feel. Life like a journey.

You should not mortgage your life to fulfil your dream. It is better to convert your responsibilities, office place as a happy in your life.

Then your dream fulfillment is not become difficult thing for you.

So work on your dreams. And be happy..,

I wish may your all dremz come true.