Development of Pay Package and Intellectual Capital through Human Resource Audit

Abstract

Human Resource is the process of recruiting and retaining the employee in the organization and one more important function in the human resource management is HR Audit. Human Resource Audit is to evaluative the current Human Resource development with regards to the organization strategies, structures, systems, styles and skills with respect to the long term and short term business plans in the organization. The research was focused to the pay structure and HR audit process in the sugar industries. The research was streamlining the pay package gaps of the executive manager in the organization and to suggest flexible pay package to executives for Intellectual Development. As per the conclusion, Human Resource being the major asset of the company, the company should take care of them & keep them satisfied to increase their performance. This in turn will help the company grow to great heights.