Performance-linked Incentives
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Performance-linked Incentives
A performance-linked incentive (PLI) is a form of incentive from one entity to another, such as from the government to industries or from an employer to an employee, which is directly related to the performance or output of the recipient and which may be specified in a government scheme or a contract. PLI may either be ''open-ended'' which does not have a fixed ceiling for the quantum of incentive granted or ''close-ended'' which has an upper ceiling as stipulated in the scheme or the contract. Open-ended incentives are normally applicable to revenue-generating activities (e.g., sales, production, efficiency, competitiveness, etc), while close-ended incentives are associated with quality improvement or support functions (e.g., operations, human resources, administration, etc.) Method of calculating PLI Also, in calculating PLI, only the performance and not the potential of the recipient is considered. Potential of the recipient is normally subjective and can be contested. PLI is ba ...
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Employer
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an ...
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Salary
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of view of running a business, salary can also be viewed as the cost of acquiring and retaining human resources for running operations, and is then termed personnel expense or salary expense. In accounting, salaries are recorded in payroll accounts. Salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary. Salary is typically determined by comparing market pay rates for people performing similar work in similar industries in the same region. Salary is also determined by leveling the pay rates and salary ranges established by an individual employer. Salary is a ...
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Human Resource Management
Humans (''Homo sapiens'') are the most abundant and widespread species of primate, characterized by bipedalism and exceptional cognitive skills due to a large and complex brain. This has enabled the development of advanced tools, culture, and language. Humans are highly social and tend to live in complex social structures composed of many cooperating and competing groups, from families and kinship networks to political states. Social interactions between humans have established a wide variety of values, social norms, and rituals, which bolster human society. Its intelligence and its desire to understand and influence the environment and to explain and manipulate phenomena have motivated humanity's development of science, philosophy, mythology, religion, and other fields of study. Although some scientists equate the term ''humans'' with all members of the genus ''Homo'', in common usage, it generally refers to ''Homo sapiens'', the only extant member. Anatomica ...
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Peak Earning Years
Peak earning years refers to the time in life when workers earn the most money per year. US perspective Given their initial lack of experience, workers' earnings start out low. Earnings peak when workers hit middle age, then begin to fall as retirement Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their j ... approaches. But peak earnings now occur later in life and reach a higher level. In the 1970s the peak earning years were between 35 and 44 for people with only an elementary school education. However people who graduated from high school and college had a peak income between 45 and 54. In 2009 peak income occurred between the ages of 40–55. Twenty years ago, those in their peak earning years took home about twice as much as workers between the ages of 20 and 24. Now they earn more ...
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Salaryman
In Japan, a is a salaried worker. In Japanese popular culture, this is embodied by a white-collar worker who shows overriding loyalty and commitment to the corporation where he works. Salarymen are expected to work long hours, to put in additional overtime, to participate in after-work leisure activities such as drinking, singing karaoke and visiting hostess bars with colleagues, and to value work over all else. The salaryman typically enters a company after graduating from college and stays with that corporation for the duration of his career. Other popular notions surrounding salarymen include karōshi, or death from overwork. In conservative Japanese culture, becoming a salaryman is the expected career choice for young men and those who do not take this career path are regarded as living with a stigma and less prestige. On the other hand, the word ''salaryman'' is sometimes used with derogatory connotation for his total dependence on his employer and lack of individual ...
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Medical Specialties
A medical specialty is a branch of medical practice that is focused on a defined group of patients, diseases, skills, or philosophy. Examples include those branches of medicine that deal exclusively with children (paediatrics), cancer (oncology), laboratory medicine (pathology), or primary care (family medicine). After completing medical school or other basic training, physicians or surgeons and other clinicians usually further their medical education in a specific specialty of medicine by completing a multiple-year residency to become a specialist. History of medical specialization To a certain extent, medical practitioners have long been specialized. According to Galen, specialization was common among Roman physicians. The particular system of modern medical specialties evolved gradually during the 19th century. Informal social recognition of medical specialization evolved before the formal legal system. The particular subdivision of the practice of medicine into various specialt ...
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List Of Highest Paid Baseball Players
The highest-paid players in Major League Baseball (MLB) from the 2023 Major League Baseball season are New York Mets' starting pitchers Max Scherzer and Justin Verlander with an annual salary of $43.33 million. MLB does not have a hard salary cap, instead employing a luxury tax which applies to teams whose total payroll exceeds certain set thresholds for a given season. Free agency did not exist in MLB prior to the end of the reserve clause in the 1970s, allowing owners before that time to wholly dictate the terms of player negotiations and resulting in significantly lower salaries. Babe Ruth, widely regarded as one of the greatest baseball players ever, earned an estimated $856,850 ($ inflation-adjusted from 1934 dollars) over his entire playing career. When asked whether he thought he deserved to earn $80,000 a year ($ inflation-adjusted), while the president, Herbert Hoover, had a $75,000 salary, Ruth famously remarked, "What the hell has Hoover got to do with it? Beside ...
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List Of Largest Sports Contracts
This is a list of the largest sports contracts. These figures include signing bonuses but exclude options, buyouts, and the endorsement deals. This list does not reflect the highest annual salaries or career earnings, only the top 100 largest contracts and thus is largely limited to athletes in team sports and auto racing. Athletes in individual sports, such as golf, tennis, table tennis, boxing, kickboxing, and MMA, are not employed by a team and usually earn money primarily through event winnings. This list also does not necessarily reflect actual money collected by the athletes, since some contracts are eventually terminated (usually due to an athlete either retiring or invoking an opt-out clause). Entries in this list also require an individual citation of the contract, so a number of the highest salaried athletes (according to ''Forbes'') are not included as their contract details have not been officially confirmed, including the likes of Cristiano Ronaldo, Roger Federer, and ...
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List Of Single-digit Salary Earners
A number of top executives in large businesses and governments have worked for a one-dollar salary. One-dollar salaries are used in situations where an executive wishes to work without direct compensation, but for legal reasons must receive a payment above zero, so as to distinguish them from a volunteer. The concept first emerged in the early 1900s, where various leaders of industry in the United States offered their services to the government during times of war. Later, in the late 1990s and early 2000s, many business executives began accepting one-dollar salaries—often in the case of struggling companies or startups—with the potential for further indirect earnings as the result of their ownership of stock. Dollar-a-year men In the early-to-mid-20th century, "dollar-a-year men" were business and government executives who helped the government mobilize and manage American industry during periods of war, notably World War I, World War II, and the Korean War. U.S. law forbids ...
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Executive Compensation
Executive compensation is composed of both the financial compensation (executive pay) and other non-financial benefits received by an executive from their employing firm in return for their service. It is typically a mixture of fixed salary, variable performance-based bonuses (cash, shares, or call options on the company stock) and benefits and other perquisites all ideally configured to take into account government regulations, tax law, the desires of the organization and the executive. The three decades from the 1980s saw a dramatic rise in executive pay relative to that of an average worker's wage in the United States, and to a lesser extent in a number of other countries. Observers differ as to whether this rise is a natural and beneficial result of competition for scarce business talent that can add greatly to stockholder value in large companies, or a socially harmful phenomenon brought about by social and political changes that have given executives greater control over th ...
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Society Of Indian Automobile Manufacturers
The automotive industry in India is the fourth-largest in the world as per 2021 statistics. In 2022, India became fourth largest country in the world by valuation of automotive industry. As of 2020, India is the 5th largest automobile market in the world, surpassing Germany in terms of sales. Currently India's auto industry is worth of more than US$100 billion and contributes 8% of the country's total export and accounts for 2.3% of India's GDP. India's major automobile manufacturing companies includes Tata Motors, Ashok Leyland, Mahindra & Mahindra, Force Motors, Tractors and Farm Equipment Limited, Eicher Motors, Royal Enfield, Sonalika Tractors, Hindustan Motors, Hradyesh, ICML, Kerala Automobiles Limited, Reva, Pravaig Dynamics, Premier, Tara International and Vehicle Factory Jabalpur. History In 1897, the first car ran on an Indian road. Through the 1930s, cars were imports only, and in small numbers. An embryonic automotive industry emerged in India in the 1940s. H ...
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Employee
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts. Employees and employers An employee contributes labour and expertise to an ...
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