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Customer service and satisfaction
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| Words: 1553 | Submitted: 03-Aug-2011
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Descriptionabout the practices and level of customer satisfaction
Background of the Study
An organization can achieve its object through an effective utilization of resources. Among these resources, human resource is the most important and decisive one. (St. Mary College, 2005.p.52)
The question that most employers and practicing managers face is how human resource contributes to its maximum effort for organizational performance. Today’s business world such as an effort is enhanced by improving the quality of work life of employees through various methods. (www of pe.compensation policy htt)
Compensation is what employees receive in exchange for there contribution. It is any kind of reward that employees receive in return for their contributions. In fact, it is abroad concept and it is more than just a pay check or dealing with a pay roll system. In package of compensation various types of monitory and non monitory reward exist. From time to time its scope is becoming wide and modern will to do organization the employee, the organization is benefited in attaching, motivation and retaining a productive work force. (Berger L., 1999)
All of previous issues can become more complex when dealing with global compensation. The growing world economy has led to many more employees working internationally. Some are located and work in multiple countries, while others perhaps based in a home country. Therefore, organization with employees working through out the world face some special compensation issues for employees.
Organization with an intention of the remaining competent in the market should not forget to maintain productive and motivated employees. Among many factors to retain such people is developing affair compensation policy. The components of total compensation program are divided in to two broad groups. It may be direct financial compensation and indirect financial compensation. Direct financial compensation consists of the pay that the person receives in the form of wages, salaries, bones and commissions. Indirect financial benefits (compensation) include all financial rewards that are not included in the direct compensation. This form of compensation includes a wide variety of records that are normally received directly by employee. Example indirect compensation is insurance of retirement, disability, life health benefit, un employment insurance educational assistance and other compensation with good packages pay and benefit can help to attract and retain the best employees and this benefit or compensation in all increases the morale of employees in their working areas and they are more active participant in every direction concerning the work of the organization.(Palmer Winter.p.4)
The organization for the purpose of the study is commercial bank of Ethiopia, the largest services giving financial institution in the country.
Statement of the Problem
A well-administered compensation practice in an ...
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