1}pg 5

2} "Manpower Cost" represents the cost associated with engaging staff / labour f
or performing a given activity. In order to arrive at the "Manpower Cost" the fo
llowing cost needs to be considered : (1) Salary/Wage including allowances & per
quisites, (2) Company contribution to PF,ESI (3) Bonus / Performance Pay (4) Tra
nsportation Cost if comonly provided to all the employees (5) Subsidised Canteen
(6) Recriutment Cost - such as Advertisement in News Paper, Reimbursement of tr
avel fare for attending interview, Hotel accomodation for attending interview et
c.... (7) Gratuity / Exgratia ; and ( Any other cost directly incurred inconnect
ion with staff / labour.
3}pg 68
4} the practice of establishing wage rates for jobs within the organisation, usu
ally combining judgements regarding market value and internal job-evaluation res
ults
An assessment of the relative worth of various jobs on the basis of a consistent
set of job and personal factors, such as qualifications and skills required.
The objective of job evaluation is to determine which jobs should get more pay t
han others. Several methods such as job ranking, job grading, and factor compari
son are employed in job evaluation. Research indicates, however, that each metho
d is nearly as accurate and reliable as the other in ranking and pricing differe
nt jobs. Job evaluation forms the basis for wage and salary negotiations.
5} pg 37
6}ob Specification definition of knowledge, skills, and abilities and the associ
ated education, training, and experience required to successfully perform a job.
These also constitute the minimum recruiting criteria or minimum qualifications
for the job
Nature of a job specification is a statement of knowledge, skills, and abilities
needed to perform the job. It are minimum acceptable qualifications to perform
a particular job. It is the same job criteria.
A statement of employee characteristics and qualifications required for satisfac
tory performance of defined duties and tasks comprising a specific job or functi
on. Job specification is derived from job analysis.
JOB SPECIFICATION is the delineation of the knowledge, skills, and abilities alo
ng with the associated education, training, and experience required to successfu
lly perform within a position. The stipulated criteria normally constitutes the
minimum recruiting criteria or minimum qualifications for the position
7}pg 137
8}Human capital is the collection of capabilities of the individuals required to
provide solutions to customers.
The skills, knowledge, and experience possessed by an individual or population,
viewed in terms of their value or cost to an organization or country
man capital is the attributes of a person that are productive in some economic c
ontext. Often refers to formal educational attainment, with the implication that
education is investment whose returns are in the form of wage, salary, or other
compensation. These are normally measured and conceived of as private returns t
o the individual but can also be social returns. (Econterms)
9}pg 154
10}pg 150