HRM
COMPENSATION AND CAREER
PLANNING
Project By
Shantanu Bhople - 31
Gaurav Jadhav – 57
Mohit Gupte - 16
Varun Lamba - 27
...
INTRODUCTION TO CAREER PLANNING
AND DEVELOPMENT
Meaning
Career planning meaning
Objectives
 Advantages
ESSENTIALS TO MAKE CAREER PLANNING
SUCCESSFUL
Support from top management
Large size of the organization
Proper selecti...
PROCESS OF CAREER PLANNING AND
DEVELOPMENT
 Analysis of personnel situation
 Projection of personnel situation
 Identif...
CAREER LIFE CYCLE STAGES
Exploration stage
Establishment stage
Mid-career stage
Late career stage
Decline stage
SUCCESSION PLANNING AND STEPS
Identifying the key position
Appraisal of employees potential
Selection of the right pers...
MEANING AND ELEMENTS OF
COMPENSATION MANAGEMENT
Salaries & wages
Bonus
Incentives
Benefits of Incentives
Motivation
Innovation
Reduced supervision
Improve corporate image
Improved morale
Reduces abs...
Fringe benefits And Types
Retirement benefits
Disability insurance
Property fringe benefit
Education and training prog...
OTHER TYPES OF COMPENSATION
Perquisites
Employee stock option plan
Retention bonus
Profit sharing
Gain sharing
Skill...
FACTORS AFFECTING COMPENSATION
Demand and supply
Labour union
Ability to pay
Productivity cost of living
Government r...
ESSENTIAL OF A SOUND COMPENSATION
SYSTEM
Definite plan
Competitive wages
Equal pay for equal work
Provision for appeal...
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H.R compesation and career planning

  1. 1. HRM COMPENSATION AND CAREER PLANNING Project By Shantanu Bhople - 31 Gaurav Jadhav – 57 Mohit Gupte - 16 Varun Lamba - 27 Mayur Thakre - 52 Kokila Patel - 17
  2. 2. INTRODUCTION TO CAREER PLANNING AND DEVELOPMENT Meaning Career planning meaning Objectives  Advantages
  3. 3. ESSENTIALS TO MAKE CAREER PLANNING SUCCESSFUL Support from top management Large size of the organization Proper selection of an employee Fair promotion police Publicity to create development Continuity in the process
  4. 4. PROCESS OF CAREER PLANNING AND DEVELOPMENT  Analysis of personnel situation  Projection of personnel situation  Identifying career needs  Selection of priorities  Development of career plans  Write up of formulated career plans  Managerial planning  Implementation  Review and evaluation  Future needs
  5. 5. CAREER LIFE CYCLE STAGES Exploration stage Establishment stage Mid-career stage Late career stage Decline stage
  6. 6. SUCCESSION PLANNING AND STEPS Identifying the key position Appraisal of employees potential Selection of the right person Training and development Placement Performance review
  7. 7. MEANING AND ELEMENTS OF COMPENSATION MANAGEMENT Salaries & wages Bonus Incentives
  8. 8. Benefits of Incentives Motivation Innovation Reduced supervision Improve corporate image Improved morale Reduces absenteeism Reduces employee turnover Encourages initiative
  9. 9. Fringe benefits And Types Retirement benefits Disability insurance Property fringe benefit Education and training programme Health insurance Life insurance Car fringe benefit Other fringe benefits
  10. 10. OTHER TYPES OF COMPENSATION Perquisites Employee stock option plan Retention bonus Profit sharing Gain sharing Skill-based pay
  11. 11. FACTORS AFFECTING COMPENSATION Demand and supply Labour union Ability to pay Productivity cost of living Government regulations Prevailing market rate Other factors
  12. 12. ESSENTIAL OF A SOUND COMPENSATION SYSTEM Definite plan Competitive wages Equal pay for equal work Provision for appeal Communication Minimum wage Revision
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