Practicing Success
What is the primary emphasis regarding overall pay and compensation according to Fayol's principle of 'Remuneration of employees'? |
Employee entitlement to high salaries Fairness to both employees and the organization Company's obligation to maximize profits Excessive remuneration for management |
Fairness to both employees and the organization |
Remuneration of Employees: The overall pay and compensation should be fair to both employees and the organisation. The employees should be paid fair wages, which should give them at least a reasonable standard of living. At the same time it should be within the paying capacity of the company. |