The meaning of the word “appraisal” is “to fix a price or value for something”. This is used in finance in terms such as project appraisal or financial appraisal where a value is attached to a project. Similarly performance appraisal is a process in which one values the employee contribution and worth to the organisation.   Employees across the entire organisation are appraised... 

Compensation Management is an integral part of the management of he organization. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. It may achieve several purposes assisting in recruitment, job performance, and job satisfaction. It is the remuneration received by an employee in return for his/her contribution to the organization. It is an... 

Competency Mapping is a process of identifying key competencies for a company or institution and the jobs and functions within it. Competency mapping is important and is an essential exercise. Every well managed firm should: have well defined roles and list of competencies required to perform each role effectively. Such list should be used for recruitment, performance management, promotions, placement... 

During a slow economy, most companies are looking for places to cut spending. It’s tempting to start with employee perks and rewards — the word “perk” itself implies an unnecessary extra. But your employees are your most important asset, and keeping them happy is never more important than when layoffs and budgets cuts have made work a challenge. Here are three creative ways to keep rewards... 

What every entrepreneur should know before hiring or firing. Alumni entrepreneurs stepped away from the heady world of running things to discuss that world and compare notes on hiring, firing, and promoting employees during an event at the Graduate School of Business. It was the Center for Entrepreneurial Studies’ second Alumni Entrepreneur Reunion, during which about two dozen participants... 

If you’re like thousands of other designers, programmers and other creative professionals out there, at one point in time you’ve considered starting your own business. Unlike most, you’ve gone against common sense and decided to open shop for yourself. And not just freelance full-time, mind you, but file for the company name, get some stationery, and wade through the legal mumbo-jumbo. Maybe...