brief inntroduction of compensation

1. Prestige Institute of Management
M.B.A. IV Sem.
Unit-I
Presented By-
Rashmi Tomar
Vashali Dixit

2. • Remuneration is the
compensation; an
employee receives in
return for his or her
contribution to the
organization.

3.  Attract capable employees to the
organization.
Motivate them toward superior
performance.
Retainment of their services over an
extended period of time.

4. Factors Affecting Compensation Policy
 Supply and demand
 Cost of living
 Government
 Labor unions

5. Componentsof Compensation

6. 3- P Compensation Concept
Person
 Position
Performance

7. New Trends in Compensation
Management
Group Mediclaim/Insurance Scheme
Personal Accident Insurance Scheme
Company Leased Accommodation
Recreation/ATM facilities
Corporate Credit Card
Club memberships

8. Components of
Compensation
Wages and Salary
Incentives
Fringe Benefits