Fair Compensation is a Pivotal Factor for Better Qualitative Work Life in Steel Industry

Abstract

Employee of any organization can be motivated with his compensation which leads to increase of organizational effectiveness. In steel industry more than 80 per cent of employees working in production processing operations related to turn iron ore into finished products. Organization can manage its talent by motivating the employee in several ways. Among them fair compensation plays pivotal role to better quality of work life. This factor varies according to nature of organization. This paper studies how quality of work life influences with variations regarding to fair compensation in public sector organisation (RINL) and private sector organization (Essar steels) in Visakhapatnam.