Remuneration is the compensation that one receives in exchange for the work or services performed. Typically, this consists of monetary rewards, also referred to as wage or salary. A number of complementary benefits, however, are increasingly popular remuneration mechanisms. Remuneration is one component of reward management.
Remuneration can include:
Human resource management (HRM, or simply HR) is the management process of an organization's workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will also serve as the company's primary liaison with the employees' representatives (usually a trades union).
HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.
Organizational behavior is a field of study that investigates the impact that individuals, groups and structures have on behavior within an organization for the purpose of applying such knowledge towards improving an organization's effectiveness. It is an interdisciplinary field that includes sociology, psychology, communication, and management; and it complements the academic studies of organizational theory (which is focused on organizational and intra-organizational topics) and human resource studies (which is more applied and business-oriented). It may also be referred to as organizational studies or organizational science.
The National Football League (NFL) is a professional American football league composed of 32 teams divided equally between the National Football Conference (NFC) and the American Football Conference (AFC). The highest professional level of the sport in the world, the NFL runs a 17-week regular season from the week after Labor Day to the week after Christmas, with each team playing sixteen games and having one bye week. Out of the league's 32 teams, six (four division winners and two wild-card teams) from each conference compete in the NFL playoffs, a single-elimination tournament culminating in the Super Bowl, played between the champions of the NFC and AFC. The champions of the Super Bowl are awarded the Vince Lombardi Trophy. Various other awards exist to recognize individual players and coaches. Most games are played on Sunday afternoons; some games are also played on Mondays and Thursdays during the regular season. There are games on Saturdays during the last few weeks of the regular season and the first two playoff weekends.
The NFL was formed on August 20, 1920, as the American Professional Football Conference; the league changed its name to the American Professional Football Association (APFA) on September 17, 1920, and changed its name to the National Football League on June 24, 1922, after spending the 1920 and 1921 seasons as the APFA. In 1966, the NFL agreed to merge with the rival American Football League (AFL), effective 1970; the first Super Bowl was held at the end of that same season in January 1967. Today, the NFL has the highest average attendance (67,591) of any professional sports league in the world and is the most popular sports league in the United States. The Super Bowl is among the biggest club sporting events in the world and individual Super Bowl games account for many of the most-watched programs in American history. At the corporate level, the NFL is a nonprofit 501(c)(6) association. The NFL's executive officer is the commissioner, who has broad authority in governing the league.
A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage.
Supporters of the minimum wage claim it increases the standard of living of workers, reduces poverty, reduces inequality, boosts morale and forces businesses to be more efficient. Critics of the minimum wage claim it actually increases poverty, increases unemployment (particularly among low productivity workers), and is damaging to businesses.
In professional sports, a salary cap (or wage cap) is an agreement or rule that places a limit on the amount of money that a sporting club can spend on player salaries. The limit exists as a per-player limit or a total limit for the team's roster, or both. Several sports leagues have implemented salary caps, both as a method of keeping overall costs down, and to ensure parity between teams so wealthy teams cannot entrench dominance by signing many more top players than their rivals. Salary caps can be a major issue in negotiations between league management and players' unions, and has been the focus point of several strikes by players and lockouts by owners and administrators.
Salary caps are used by the following major sports leagues around the world: