Compensation Policy of Grameenphone Ltd

1. Compensation Policy of
Grameenphone Ltd.
Presented by:
PARTHA MITRA
ID: M-160202061

2. Compensation is a systematic
approach to providing monetary
value to employees in exchange for
work performed.
Sum of direct benefits (such as
salary, allowances, bonus,
commission) and indirect benefits
(such as insurance, pension plans,
vacations) that an employee
receives from an employer.
Compensation

3. • Grameenphone widely known as GP.
• Grameenphone was the first company to introduce
GSM technology in Bangladesh
• it is the leading telecommunications service
provider in Bangladesh. With more than 54.5
million subscribers and 46.3% subscriber market
share (as of August 2016),
• Grameenphone is the largest mobile phone
operator in the country
• GrameenPhone is a joint venture between Telenor
and Grameen Telecom Corporation
Industry Overview

4. • Reflect the relative weight of jobs.
• Be competitive and internally consistent and
fair.
• Recognize individual performance and
contribution.
• To have a fair and transparent system
• Uphold the excellent understanding and
relationship with the employees.
Compensation Systems of Grameenphone

5. Basic components
of
Compensation
• LFA stands for Leave Fare Assistance (vacation bonus)
Basic Compensation
Components
Salary
House Rent
Medical Allowance
LFA
Bonus
Festival
Performance

6. Variable
Components
of
Compensation
Variable Compensation
Components
Overtime
Allowance
Children education allowance
Provident Fund and Gratuity
On Call
Shift

7. Other Benefits
Non Compensation/ Other
Benefits
Health Plan
Employee Transportation
Used Laptop/ Desktop Offer
Mobile Phone Allowance
(Handset and Talk time)
Long Service Award
Disability
Insurance

8. Evaluation of the Compensation
Packages
• Pros
• rules and regulation
• children education allowance
• PF and Gratuity
• Competitive pay
• Opportunity for women
• Daycare
• International opportunity
•Cons
• Managers influence
• Environment
• long hours
• office location

9. Recommendation
• Proper Budget Allocation
• Salary Audit System
• Using Performance Management System
• Flexible work shift

10. Conclusion
Pay and benefits are extremely important to both
new applicants and existing employees. The
compensation received from work is a major reason
that most people seek employment. Compensation
not only provides a means of sustenance and allows
people to satisfy their materialistic and recreational
needs, it also serves their ego or self-esteem needs.