Human Resource Management

An HR audit systematically assesses the strengths, limitations, and developmental needs of its existing human resources in the context of organisational performance.

Human resource accounting is a system of accounting that considers human resources a valuable asset. It includes a record of all financial expenditures related to human resources, including wages, salaries, training costs, and more, in the books of accounts.

An incentive is something that influences people to act in certain ways. An incentive system is a collection of incentives and a set of procedures for using them. Organisations use incentive systems to motivate their employees.

Retrenchment is the termination by the employer of the service of a workman for any reason whatsoever, other than as a punishment, but does not include voluntary retirement, termination on the grounds of ill health

Disciplinary procedure/action is a systematic approach used by an employer to manage indiscipline in the workplace. It defines all kinds of discipline, the presentation and document of warnings, representation at disciplinary interviews, time duration for investigation, and rights of appeal.

Violation of the company’s rules and regulations by the employees is termed as misconduct. This not only adversely affects the reputation of an employee but also hurts his career growth.