ENTREPRENUERSHIPS

IN TOURISM AND
HOSPITALITY
CHAPTER 7.8 AND 8
GROUP 3
CHAPTER 7 CHANGE IN PERSONEL

• Hiring
• Promotion
• Transfer
• Demotion
• Retirement
• Resignation
• Termination
• Hiring is the process of finding and engaging suitable candidates for a job
vacancy.
• Promotion is usually accompanied by an increase in salary, benefits,
and/or responsibilities.
• Transfer is the reassignment of an employee to a job with similar pay.
• Demotion is the reassignment of an employee to lower job.
• Retirement- an employee may retire upon reaching a certain age.
• Resignation is when an employee decided to resign.
• Termination- you can only terminate an employee in the Philippines if you
have just cause or an authorized reason.
CHAPTER 8 COMPENSATING HUMAN
RESOURCES
• Compensation
• Wage and Salary
• Benefits and perquisites or perks/Indirect compensation
• Determining pay rates/ factors
• Compensation is the set of rewards that organizations provide to individuals in return for their willingness to perform various jobs
and tasks within the organizations.

Main components of compensation:

• Base pay
• Premium pay
• Base pay progression
• Variable pay

• Base wages and Salaries – are the hourly, weekly or monthly pay that employees receive in exchange of their work.
• Benefits and perquisites or perks/Indirect compensation - Non-wage forms of compensation, such as health and life insurance,
vacation and sick leave, and retirement plans.
Determining pay rates are based in the relatives of the job, employee performance and the establishment of different
pay range for various permissible pay.
Factors affecting pay rates
• External factor
• Organizational factor
• Job factor
• Individual factors
Different types of compensation
• Base Pay: Fixed wages or salaries paid to employees for their work.
• Performance-based Pay: Awards based on performance, such as bonuses, commissions, and profit-
sharing plans.
• Benefits: Non-wage forms of compensation, such as health and life insurance, vacation and sick
leave, and retirement plans.
• Stock Options: Equitable ownership of the company through stock purchase plans or stock grants.
• Recognition Programs: Rewards and incentives that acknowledge achievement and excellence.
• Training and Development: Programs to improve employees' skills and knowledge.
• Flexible Work Arrangements: Schedules that allow employees to work outside the traditional office
setting.
• Relocation Assistance: Financial assistance with the costs associated with relocating to a new job.
• Employee Assistance Programs: Resources that help employees manage personal issues, such as
stress, substance abuse, and financial planning.
CHAPTER 9 EMPLOYEE BENEFITS AND
SERVICES
• Health Insurance
• Retirement Plans
• Paid Time Off
• Flexible Scheduling
• Child Care Assistance
• Tuition Assistance
• Bonuses and Incentives
• Employee Discounts
• Wellness Programs
• Employee Assistance Programs
• Transportation Assistance