General Motors

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Compensation Management PPT

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General Motors

  1. 1. Q1 How past pay decisions become obstacles to future competitive advantages?
  2. 2. OBSTACLES TO FUTURE Reducing Profit  High labor cost  Lack in downsizing decision  Lack in negotiation & Persuasion skills of management Increasing Cost  Lack of automation  Lack in SCM process innovation Stringent Govt Policies  Pension & Retirement benefits
  3. 3. Q2 Look at the factors that shape a compensation strategy?
  4. 4. FACTORS EXTERNAL INTERNALOBJECTIVES ALLIGNMENT ALLIGNMENT EMPLOYEE MANAGEMENT CONTRIBUTION
  5. 5.  Objectives  Fairness  Compliance  EfficiencyInternal Alignment  Comparison among the jobs or skill level inside a single organization  Pertains to the pay rates for both employees during equal work and for those doing dissimilar work.  Affects all three compensation objectives. External Alignment  Refers to pay comparisons with competitors  Twofold effect on objectives - To ensure that pay is sufficient to attract and retain employees - To control labour costs
  6. 6.  Employee Contribution  How much emphasis should be there on paying for performance ?  Directly affects employee attitude and behaviour.  Performance based pay affects fairness. Management  Means ensuring right people get the right pay for achieving the right objectives in the right way.
  7. 7. Q3 How to make a paystrategy more flexible & resilient?
  8. 8. Pay strategy Restructuring of : - Pension’s policies - Retirement benefits - On the medical & health care expenses Negotiation with the govt. - Regarding pension & retirement benefits to be launched by govt at all the levels - Equal and fair mandatory policies for all the firms
  9. 9.  Laying-off of non performers & acquiring fresh talented people in the management Investment in R&D & Automation Re- engineering - Focus on lean management - Effective new tech implementation for SCM Improvement/changes in variable pay performance
  10. 10.  Reducing cost & increasing productivity by: - LDP for workers - Effective utilization of land - Better sourcing of raw materials Improving employee’s engagement activities
  11. 11. Queries !!!
  12. 12. Group No. 2 :SIVA PRIYA SGARIMA KATIYARNIDHI JALANANSHUL MISHRARESHIKA KAURKOHLI TUSHAR NEB

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