Explanation:

A number of incremental improvements have been made to the remuneration system over the past few years to further improve internal, external and individual equity considerations. The system has also been made more open so that all employees can understand how their salary is calculated and how their bonus is allocated. In 2004, a points factor system was introduced to evaluate all positions with the company. As this is a modification of the system that was brought in earlier, only a partial adjustment of the pay rates was required due to the general acceptance of the rates introduced as part of the initial restructure.
HRM covers a wide range of activities. The main area we will focus on will be incentives and work organization. Incentives include remuneration systems (e.g. individuals or group incentive/contingent pay) and also the system of appraisal, promotion and career advancement. By work organization we mean the distribution of decision rights (autonomy/decentralization) between managers and workers, job design (e.g. flexibility of working, job rotation), team-working (e.g. who works with whom) and information provision.