ORGANIZATION AND MANAGEMENT

• Training and Development


  A system of educating employees within a company, including various tools, instructions, and activities designed to improve employee performance
• Types of Training


  • Technical or Technology Training
  • Quality Training
  • Skills Training
  • Soft Skills Training
  • Team Training
  • Managerial Training
  • Safety Training
• Technical or Technology Training


  • Teaches new employees the technological aspects of the job
• Quality Training


  • Familiarizes employees with the means of preventing, detecting, and eliminating non-quality items, usually in an organization that produces a product
• Skills Training


  • Teaches the proficiencies needed to actually complete the job
• Soft Skills Training


  • Refers to personality traits, social graces, communication, and personal habits that are used to characterize relationships with other people
• Team Training


  • Empowers teams to improve decision-making, problem solving, and team-development skills to achieve business results
• Managerial Training


  • Improves an individual's skills as a manager or as a candidate for promotion, including topics like how to motivate and delegate, as well as technical topics
• Safety Training


  • Ensures employees are protected from injuries caused by work-related accidents, especially important for organizations that use chemicals or other hazardous materials
• Compensation


  The cash rewards paid to employees in exchange for the services they provide
• Total Compensation


  Includes cash rewards as well as any other company benefits
• Salary


  A fixed amount paid in exchange for an employee's services, described in annual, monthly, bi-weekly, weekly, or hourly amounts
• Incentives


  Drivers in attracting the best employees, including bonuses, profit sharing, and commissions
• Bonuses


  • Individuals are rewarded based on attainment of performance-based goals (individual, team and company)
• Profit Sharing


  • Payment is tied to company profits, with a pre-determined percentage of profit shared among all employees
• Commissions


  • A common way to remunerate employees (sales-people) for securing the sale of a product or service, usually calculated as a percentage of the sale