The two principles that are being regarding in the given paragraph are as follows:
(i) 'Harmony, Not Discord' by Taylor: This can be inferred from the line that 'management should share gains with the workers'.Herein, Taylor emphasised that the managers and the workers should maintain a harmonious work environment. They should realise their interdependence and work in amity. He introduced this principle to maintain a peaceful kinship between people. Often it is found that if the workers are deprived of their wishes or demands they generally go on strike. this affect the productivity and the working environment. To dismiss such a situation Taylor was ardent about a mental revolution. It implies a change in the thinking of both the workers and managers. For example, if a worker is having problem with the working hours, he should talk to the manager about it, instead of letting it effect the production (by going on a strike). Similarly,the managers should listen to the workers suggestions and demands rather than ignoring them along with sharing gains of the organisation.
(ii) 'Remuneration of Employees by Fayol: This can be inferred from the line that 'the employees compensation should depends on the earning capacity of the company and should give them a reasonable standard of living'. According to this principle, the compensation paid to the employees should be fair and just. That is the employees must be paid appropriately as per their work responsibility. They must be able to lead a reasonable and a decent standard of living. It is only when the employees are paid adequately that they are satisfied and are encouraged to give their best of work. On the other hand, underpaid employees would remain unsatisfied and would tend to leave the firm. As a result, the firm would face high employee turnover. Thus, in order to maintain stability and harmony in the organisation, the remuneration paid to the employees should be fair. However,it must be remembered that the compensation paid should be within the paying capacity of the organisation.
