GROUP 11 (6th Reporter)

CONTENT

01. Training and Development

02. Compensation/ Wages and Performance

Training and Development

Training
- is the formal and systematic modification of behavior through learning which
occurs as a result of education, instruction, development and planned experience

 It’s a short term process

 Refers to instruction in technical and mechanical problems
 Targeted in most cases for non-managerial personnel
 Specific job related purpose

Development
- is any learning activity, which is directed towards future needs rather than
present needs, and which is concerned more with career growth than immediate
performance.

 It’s long term process

 Refers to philosophical and theoretical educational concepts
 Managerial personnel
 General knowledge purpose

Training Development
Helps Helps the
employees individual
to do their handle future
current job responsibilitie
s
NATURE OF TRAINING AND DEVELOPMENT

1. Better Performance 6. Team spirit

2. Economy in Training Costs 7. Organization Culture

3. Elimination of Wastage 8. Quality

4. Less supervision 9. Healthy work environment

5. Less accidents 10. Profitability

On-the Job Training

-also known as OJT, is a hands-on method of teaching the skills, knowledge, and
competencies needed for employees to perform a specific job within the workplace.
Employees learn in the environment where they will need to practice the knowledge and
skills obtained during training.

Off-the Job Training

-is the training method wherein the workers/employees learn their job roles away
from the actual work floor. Simply, off-the-job training comprises of a place specifically
allotted for the training purpose that may be near to the actual workplace, where the
workers are required to learn the skills and get well equipped with the tools and
techniques that are to be used at the actual work floor.

 SIMULATION  ROLE PLAYING

 LECTURES  MANAGEMENT GAMES
 CASE STUDIES  VESTIBULE TRAINING

Compensation/ Wages and Performance

Performance Appraisal
  Some firms conduct peer reviews while other firms allow employees to review
their supervisors and managers.
 May conduct a 360-degree performance review, a process that gathers
feedback from a review panel that includes co-workers, supervisors, team
members, subordinates, and sometimes customers.

Compensation

-is the total cash and non-cash payments that you give to an employee in
exchange for the work they do for your business. It is typically one of the biggest
expenses for businesses with employees. Compensation is more than an employee's
regular paid wages

Wages - compensation based on an hourly pay rate or the amount of output

produced.

Salary - compensation calculated on a periodic basis, such as weekly or monthly.

Most firms base compensation decisions on five factors:

 The firm’s ability to pay

 Worker productivity
 The cost of living
 Salaries and wages paid by other companies that compete for the same people
 Government legislation including federal, state or local minimum wage

Incentive Compensation