Open AccessDoes Precise Portfolio Construction of Compensation Generate Organisational Excellence?-An Empirical Study in Rashtriya Ispat Nigam Limited, Visakhapatnam, Andhra Pradesh(India).,
Author(s) -
Budharaju Suryanarayana Raju,
K.S.S.Rama Raju
Publication year - 2011
Publication title -
international journal of human resource studies
Language(s) - English
Resource type - Journals
ISSN - 2162-3058
DOI - 10.5296/ijhrs.v1i1.871
Subject(s) - excellence , business , compensation (psychology) , promotion (chess) , job satisfaction , job security , productivity , portfolio , marketing , compensation of employees , work (physics) , context (archaeology) , profit (economics) , public relations , management , economics , finance , psychology , politics , microeconomics , economic growth , mechanical engineering , paleontology , political science , psychoanalysis , law , biology , engineering
Employee job satisfaction is a critical factor in determining the organizational effectiveness. Once the employees are motivated, it influences organization as a whole. Generally an organization uses many techniques to retain and motivate the talent. In this context, the organization should implement reward strategies to make the employees work hard. Sometimes, a sound compensation practices make them work more. These are like recognition for achievement, perks and perquisites, and opportunities for promotion, job security and congenial work environment. Precise Portfolio Construction of Compensation definitely has an impact on organisation performance. Organization wants every individual to think of better performance. One should compete for higher performance and deliver excellent results in the form of profit. The RINL has been executing effective compensation policies and practices that enhance the employees’ competencies to achieve its strategic aims. As a result employee productivity is enhanced in the recent past and cost of production is also drastically declined. It is also observed that the commitment and motivational levels among the employee are also abnormally increased.