International compensation
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

International compensation

on

  • 303 views

its effective to students those who are pursuing their post graduation

its effective to students those who are pursuing their post graduation

Statistics

Views

Total Views
303
Views on SlideShare
303
Embed Views
0

Actions

Likes
1
Downloads
13
Comments
2

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
  • nice ppt
    Are you sure you want to
    Your message goes here
    Processing…
  • Nice Work Thanks Afra
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

International compensation Presentation Transcript

  • 1. Presented By: Afra INTERNATIONAL COMPENSATION
  • 2. Overview: • Introduction to international compensation • Meaning and Definition of international compensation • Objectives of international compensation • Forms of international compensation
  • 3. Introduction • Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. • Compensation provided to employees can direct in the form of monetary benefits and/or indirect in the form of non-monetary benefits known as perks, time off, etc. • Compensation does not include only salary but it is the sum of all rewards and allowances provided to the employees in return for their services. • Compensation is extrinsic reward for an employee. Extrinsic rewards include praise from a superior, salary, employee benefits, career progression etc. • Almost all the employees accept jobs in MNC’s take-up assignments in various countries, & take-up the risk, bear inconveniences & discomforts in foreign assignments mostly based on the compensation package.
  • 4. Meaning and Definition of International Compensation • According to R. Wayne Mondy “ compensation Is the total of all rewards provided to employees in return to their services. The overall purposes of providing compensation are to attract, retain, and motivate employees”.
  • 5. Objectives of International Compensation: The most important objective of any pay system is fairness or equity, generally expressed in three forms: • Internal equity: This ensure that more difficult jobs are paid more. • External equity: Where jobs are fairly compensated in comparison to similar jobs in labour market. • Individual equity: It ensures equal pay is ensured for equal work
  • 6. Other objectives of compensation are:  Attract talent and Retain talent  Ensure equity  New and desired behavior  Control costs  Comply with legal rules  Ease of operation
  • 7. Forms of compensation: Compensation Management Direct Indirect
  • 8. Direct compensation:  Direct compensation refers to monetary benefits offered and provided to employees in return of the services they provide to the organization.  The monetary benefits include basic salary, allowances, bonus, incentives. They are given at a regular interval at a definite time.
  • 9. Direct compensation: Direct Compe- nsation Bonus Allowances Incentives Basic Salary
  • 10. Indirect compensation:  Indirect compensation refers to non-monetary benefits offered and provided to employees in lieu of the services provided by them to the organization.  They include Leave Policy, Overtime Policy, allowances, Hospitalization, Insurance, Leave travel Assistance Limits, retirement benefits ,Holiday Homes etc..
  • 11. Indirect Compensation: Indirect Comp- ensation Overtime Policy Hospitalisati on Insurance Leave Travel Retirement Benefits Holiday Homes Leave Policy