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Employee remenuration

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a detailed review of employee remenuration

a detailed review of employee remenuration

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  • 1. EMPLOYEEREMENURATIONPRESENTATION BYG.Harsha Kiran(11052003)G.Santhoshasai(11052022)
  • 2. Definition It refers to the reward orcompensation given to the employeesfor their work performance . Remuneration leads to motivation. Salaries effect on the employeesproductivity and work performance.
  • 3. Components of Employeeremuneration The remenuration packets of anemployee include wages/salary, incentives , fringe benefits, prequisities and finally non monetarybenefits.
  • 4. Wages /Salary Wage is the payment given toemployee . Salary include allowances and alsoannual increment. Wage is the hourly rate of employeeby the employer pay while salaryrefers to monthly rate pay .
  • 5. Incentives Incentives are addition to regular wagepayment incentives depend onproductivity sales , profitconsiderationefforts etc. The purpose behind this incentives isto encourage motivate employees totake more interest in work and inaccording to the results get incentivesas incentives are payment by results.
  • 6. Fringe benefits These are monetary benefits providedto employees these include :1.provident fund2.gratutiy3.medical care4.hospitalization payment5.accident relief
  • 7. Cont….d6.health hand group insurance7.subsidized canteen facility8.recreation facility9.provision of uniforms to employees
  • 8. Prequities These are special benefits offered tomanager The purpose is to retain in competentexecutives by offering some specialbenefits it includea. company car for travellingb.club membership.c.paid holidaysd.accomdatione. Stock option scheme.
  • 9. Nonmonetary benefits They include:a.comfortable working conditionsb. impartial promotionsc. support to workers facing specialproblemsd. provision of welfare facilities toemployees
  • 10. Wage payment system They are two basic system of wagepayment these are1. time rate system2.piece rate system
  • 11. Time rate system Under this system remenuration isdirectly linked with the time spent byan employee on patticular job
  • 12. Piece rate system It is a method in which remenurationpaid on the basis of number of units orpices produced by an employee .
  • 13. Advantages to company A well designed compensation planand benefits to company in followingways: Job satisfaction Motivation Low absenteeism Low turnover.
  • 14. Advantages to employees Piece of mind Increase of self confidence.
  • 15. Role of hrm in remenuration Hrm devolps policies on salaries andother benefits to employees forderiving commitement to theorgansiation. Hrm tries to offer economic benefits.
  • 16. Factors influencingremenuration External factors Internal factors
  • 17. External factors Labour market Cost of living Labour union Government legislations The society The economy
  • 18. Internal factors Buiness strategy. Job evaluation and performanceappraisal The employee.
  • 19. Hr practices in TCS A violate global economy and dynamicmarket conditions have compelled hrfunctions to reduce costs, maximizeoperational efficiency and focus onstrategic initiatives. it is delivered with minimal risk andcontrolled costs.
  • 20. Tcs advantages they provide hr services in threemodels Integrated host technology andsevices on a process as a servicemodel. Customer preferred enviromentfollowed by transactional services.
  • 21. Cont…d Transactional services on customerowned technology enviroment. it results in sigiinificant cost reductionsand enhances your hr process
  • 22. T c s provides Tcs offering focuses on processacross the whole spectrum of hrservices1. recruitment and resourcing2.work force administration3.compensation and benefits.4. performance and learning.5.payroll and time.
  • 23. Cont..d Tcs hr services are backed by industryexperience , hr expertise and globalcoverage They provide comprehensivetraditional and enabled multi processservices that are specially designed toallow you to consecrate on your corebusiness activities.
  • 24. Cont..d These process are the enabled by thefollowing range of tools , methodologiesand activities under well orchestratedgovernance model:1. service delivery model2.It and infrastructure3.Process and transformation tools4.Analytics and third party vendormanagement.
  • 25. Business value Consolidation and transformation of multipledisparate HR systems and processes on TCS’Global HR Platform, resulting in up to 50% increasein productivity, over 30% reduction in costs andreal-time HR insights and analytics Up to 40% cost savings on in-scope processescombined with 100% compliance to agreed servicestandards Significant measurable improvements in employeesatisfaction within 6-12 months
  • 26. Hr practices in IBM Is a new employee orientation classdesigned to help the employees hit theground running as they begin theircareer at IBM. IT help understand the companys corevalues, rich heritage of technologyleadership, Innovation, and theimportant role employees are beingasked to play as the company continueto drive growth and innovation.
  • 27. Competencies These competencies set a common standard ofexcellence across the organization and form thebasis of people development within IBM. They will also help to focus the learning time ondeveloping the characteristics identified -- andvalidated -- as being key to achieving success. IBM compensation and benefits are among the verybest in the industry.
  • 28. Type of payments Base payment Variable payment Commission &incentive payment Stock options Awards and recongistion
  • 29. Career at IBM The employees of IBM who haveaccess to On Demand Workplace,have access to a variety of websitesand tools to effectively manage careerand build expertise, which includes:1.e-learning,2.global campus ,3.carriersites and tools,4.academic learningassistance programme.
  • 30. IBM Values Dedication to every clients success. Innovation that matters - for ourcompany and for the world. Trust and personal responsibility in allour relationships.
  • 31. THANK YOU ONE & ALL