Human Resource Management

CHAPTER 15

Incentives and Benefits

CHAPTER OBJECTIVES

After reading this chapter, you should be able to:

1. Understand the significance of incentive programmes

2. Understand the wage incentive planning process

3. List the prerequisites for good incentive schemes

4. Enumerate the different types of incentives

5. Evaluate wage incentive schemes

6. List the objectives of fringe benefits

7. List the forms of benefits

The Raymond Group is an India-based textile major operating at the global level. It is one of the largest integrated manufacturers of worsted fabric in the world and contributes to almost 60 per cent of the worsted suiting market in India. The HR objectives of Raymond get reflected in its vision which aims to make “Raymond the most desired workplace ...