Compensation Management
•
117 likes•68,608 views
Compensation management involves managing all forms of financial returns and benefits that employees receive as part of their employment. It aims to attract capable employees, motivate performance, and reduce employee turnover. Elements of compensation include wages/salaries, bonuses, economic benefits like paid holidays, insurance contributions, transport and medical facilities, and retirement benefits. Key factors that determine compensation are labor supply and demand, cost of living, productivity, and profits. Job evaluation determines the relative worth of jobs in an organization. Common types of wages include minimum wages, fair wages, living wages, and skill or competency-based pay plans. Compensation management also addresses pay equity and uses incentives like service awards, profit sharing, and stock options to further motivate employees.
Report
Share
Report
Share
![Meaning & concepts The policies & procedures for managing all forms of financial returns & tangible services & benefits that employees receive as part of an employment relationship. Objectives ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recommended
Presentation on Total Reward Management Model
The document provides an overview of total rewards management. It discusses that total rewards includes all compensation and benefits that employees value in the employment relationship, including pay, benefits, work-life programs, and professional development. It emphasizes that retaining top talent is important to business success and that engaged employees can significantly impact business outcomes like revenues, profits, and growth. The document also covers considerations for re-tuning total rewards programs, such as trends in compensation, benefits, healthcare, private exchanges, and base pay. It stresses that professional development and leadership have a direct impact on retaining critical talent.
Pay structure: Grades & Ranges
The document discusses building and maintaining a pay structure with grades and ranges. It provides guidance on key steps:
1) Identify multiple pay schedules to group labor markets and streamline the structure.
2) Determine pay grades by deciding the number of grades and job levels within each grade.
3) Develop pay ranges by setting the minimum, midpoint, and maximum for each grade using common differentials and spreads.
4) Assign positions to grades based on market pay and internal alignment. Maintain the structure by annually benchmarking grades and hot jobs against the market.
Concept of reward and total reward system
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Employee compensation and benefits
This document discusses employee compensation and benefits. It defines compensation as direct financial rewards like salary and wages as well as indirect rewards like benefits and retirement plans. It also discusses non-financial compensation like career development. The document outlines different types of compensation including salary, wages, commissions, and bonuses. It also discusses benefits packages, employer challenges in administering benefits, core vs non-core benefits, and laws affecting compensation and benefits like the Fair Labor Standards Act. The conclusion emphasizes that compensation takes many forms including salary, benefits, and work environment and that employers aim to structure compensation to attract and retain needed employees.
Incentive Pay and Team Based Pay by Dr. G C Mohanta
Incentive Pay and Team Based Pay by Dr. G C MohantaAl-Qurmoshi Institute of Business Management, Hyderabad
This document discusses incentive pay and team-based pay. It defines incentive pay as rewarding employees for achieving defined goals, and notes that incentive pay plans can be based on individual, team, business unit, or company performance. Team-based pay encourages collaboration and cooperation among team members to achieve shared goals. The document outlines different types of team-based pay including gain-sharing, profit-sharing, and employee stock ownership plans, and discusses their advantages and disadvantages.Compensation management
This document discusses compensation management and provides details on:
1) The definition and types of compensation including direct compensation like wages and salaries, and indirect compensation like benefits.
2) The purposes and components of compensation including attracting applicants, retaining employees, motivating performance, and administering legal pay requirements.
3) Methods of determining employee pay such as base salary plus cost of living adjustments, scales, incentives, bonuses, and merit-based pay.
4) The job evaluation process which determines relative job worth through analyzing jobs, developing and selecting evaluation methods, and evaluating positions.
Compensation system
The document discusses compensation and rewards in the workplace. It defines compensation as the total reward an employee receives in exchange for their services, including both direct pay and indirect benefits. Workers' compensation originated in Germany in the 1800s and spread to the US in the 1930s-1940s to financially protect injured workers. Compensation management aims to recruit and retain qualified employees through fair compensation according to the worth of their jobs. Compensation can include base pay, commissions, bonuses, and other financial and non-financial rewards. Companies establish compensation philosophies to determine fair pay, bonuses, and incentives over time to attract and keep good employees.
Compensation
Pay level refers to the average pay for a job including base salary, bonuses, benefits, and other compensation. It is determined by internal factors like job worth and external factors like market wages. Strategic compensation aims to motivate employees through intrinsic and extrinsic rewards to achieve business goals. Compensation elements like merit pay, job families, job structure, and pay-for-performance plans are used to determine appropriate pay levels. The pay mix is the combination of different pay types that make up total compensation. Organization culture encompasses underlying values and beliefs that guide workplace behaviors.
Recommended
Presentation on Total Reward Management Model
The document provides an overview of total rewards management. It discusses that total rewards includes all compensation and benefits that employees value in the employment relationship, including pay, benefits, work-life programs, and professional development. It emphasizes that retaining top talent is important to business success and that engaged employees can significantly impact business outcomes like revenues, profits, and growth. The document also covers considerations for re-tuning total rewards programs, such as trends in compensation, benefits, healthcare, private exchanges, and base pay. It stresses that professional development and leadership have a direct impact on retaining critical talent.
Pay structure: Grades & Ranges
The document discusses building and maintaining a pay structure with grades and ranges. It provides guidance on key steps:
1) Identify multiple pay schedules to group labor markets and streamline the structure.
2) Determine pay grades by deciding the number of grades and job levels within each grade.
3) Develop pay ranges by setting the minimum, midpoint, and maximum for each grade using common differentials and spreads.
4) Assign positions to grades based on market pay and internal alignment. Maintain the structure by annually benchmarking grades and hot jobs against the market.
Concept of reward and total reward system
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Employee compensation and benefits
This document discusses employee compensation and benefits. It defines compensation as direct financial rewards like salary and wages as well as indirect rewards like benefits and retirement plans. It also discusses non-financial compensation like career development. The document outlines different types of compensation including salary, wages, commissions, and bonuses. It also discusses benefits packages, employer challenges in administering benefits, core vs non-core benefits, and laws affecting compensation and benefits like the Fair Labor Standards Act. The conclusion emphasizes that compensation takes many forms including salary, benefits, and work environment and that employers aim to structure compensation to attract and retain needed employees.
Incentive Pay and Team Based Pay by Dr. G C Mohanta
Incentive Pay and Team Based Pay by Dr. G C MohantaAl-Qurmoshi Institute of Business Management, Hyderabad
This document discusses incentive pay and team-based pay. It defines incentive pay as rewarding employees for achieving defined goals, and notes that incentive pay plans can be based on individual, team, business unit, or company performance. Team-based pay encourages collaboration and cooperation among team members to achieve shared goals. The document outlines different types of team-based pay including gain-sharing, profit-sharing, and employee stock ownership plans, and discusses their advantages and disadvantages.Compensation management
This document discusses compensation management and provides details on:
1) The definition and types of compensation including direct compensation like wages and salaries, and indirect compensation like benefits.
2) The purposes and components of compensation including attracting applicants, retaining employees, motivating performance, and administering legal pay requirements.
3) Methods of determining employee pay such as base salary plus cost of living adjustments, scales, incentives, bonuses, and merit-based pay.
4) The job evaluation process which determines relative job worth through analyzing jobs, developing and selecting evaluation methods, and evaluating positions.
Compensation system
The document discusses compensation and rewards in the workplace. It defines compensation as the total reward an employee receives in exchange for their services, including both direct pay and indirect benefits. Workers' compensation originated in Germany in the 1800s and spread to the US in the 1930s-1940s to financially protect injured workers. Compensation management aims to recruit and retain qualified employees through fair compensation according to the worth of their jobs. Compensation can include base pay, commissions, bonuses, and other financial and non-financial rewards. Companies establish compensation philosophies to determine fair pay, bonuses, and incentives over time to attract and keep good employees.
Compensation
Pay level refers to the average pay for a job including base salary, bonuses, benefits, and other compensation. It is determined by internal factors like job worth and external factors like market wages. Strategic compensation aims to motivate employees through intrinsic and extrinsic rewards to achieve business goals. Compensation elements like merit pay, job families, job structure, and pay-for-performance plans are used to determine appropriate pay levels. The pay mix is the combination of different pay types that make up total compensation. Organization culture encompasses underlying values and beliefs that guide workplace behaviors.
Compensation & Benefits Management - HRM
This document provides information about compensation and benefits management in 3 paragraphs:
1) It begins with a quote emphasizing the importance of retaining talented employees. It then provides a brief history of compensation, explaining salary, wages, and the meaning of compensation.
2) The next section defines total compensation and lists its main components such as basic pay, allowances, benefits, rewards, and incentives. It also discusses the purposes of compensation including attracting talent and motivating employees.
3) The final section provides details on the pay scale structure of the Indian Army, including ranks, pay bands, grade pay, military service pay, and various applicable allowances for roles like field area, high altitude, flying, and
Human Resource Management: Reward and compensation
This document discusses reward and compensation in human resource management. It defines reward as strategies and policies that fairly reward employees according to their value. Reward systems include pay structure, performance management, and total remuneration. The main objective of rewards is to attract, maintain, and retain high performing employees. Compensation includes salary, benefits, incentives, and allowances and aims to attract, retain, and motivate staff as well as drive changes and support the company's reputation. Effective compensation systems tie pay to employee performance and contributions.
Compensation&benefits
The document discusses compensation and benefits. It defines compensation as payment to employees for their contributions, which usually takes the form of wages and salaries. Benefits are non-payment forms of value provided to employees like healthcare. The document outlines different types of compensation including core compensation, adjustments, incentives and benefits. It discusses the purposes of compensation for both employers and employees. Factors that influence compensation and the constituents and laws around compensation structures are also examined. The goals of compensation professionals and departments are defined as aligning compensation with business objectives and strategy.
Compensation management
Here are some potential responses to AstraZeneca's questions:
1. Possible non-discriminatory explanations for the pay differences could include differences in average years of experience, differences in average performance ratings if incentive pay was involved, or differences in roles and responsibilities if job descriptions were not tightly controlled. A detailed analysis of individual employee data would be needed to determine the true causes.
2. To ensure pay equity going forward using your point method: conduct annual pay equity audits comparing pay by gender within each job class; educate managers on setting pay objectively based only on point factors, not other attributes; establish a process for employees to confidentially report inequities and investigate/address any issues found.
3. I would
Compensation Strategy
The compensation strategy is the essential strategy for the business, which wants to eliminate the external competition from attacking the top talents. The company has to define its position on the job market, it has to identify bene
Compensation management
This document discusses compensation management. It defines compensation management as providing both monetary and non-monetary rewards to employees in exchange for their work. It outlines the key components of compensation management, including direct monetary compensation like salary and bonuses, indirect compensation like insurance and retirement plans, and non-monetary compensation like recognition and satisfaction. The document also discusses strategies for compensation management, including paying employees based on their position, personal skills, or performance. It concludes by outlining the steps to develop an effective total compensation strategy.
Compensation management
This document discusses compensation and wage theories. It provides an overview of different types of compensation including direct and indirect compensation. It also covers various wage concepts like minimum wage, living wage, and fair wage. Several theories that seek to explain how wages are determined are outlined, including the subsistence theory, wage fund theory, surplus value theory, residual claimant theory, marginal productivity theory, bargaining theory, and behavioural theory. The goals of compensation administration are noted as designing a cost-effective pay structure to attract, motivate and retain competent employees.
Objectives of compensation management
The basic objective of compensation management can be briefly termed as meeting the needs of both employees and the organization. The Employer wants to pay little salaries and wages to the workers to manage their working costs. Employees wants to get paid high as possible.
Compensation management
This document discusses compensation and wage determination. It begins by defining compensation and discussing different types of compensation including direct and indirect compensation. It then covers various wage concepts like minimum wage, living wage, and fair wage. Different theories of wage determination are explained such as subsistence theory, wage fund theory, and marginal productivity theory. Key factors that influence wage determination are also outlined, including the organization's ability to pay, supply and demand of labor, prevailing market rates, and cost of living. The document concludes by describing the typical steps involved in the wage determination process within an organization.
Reward management
Reward management aims to reward employees fairly based on their value to an organization. An effective reward strategy links compensation to business objectives, has well-designed pay programs tailored to employee needs, and supports organizational goals. A reward strategy provides intrinsic and extrinsic rewards to satisfy individual and organizational needs. Principles of an effective reward strategy include developing policies that support business goals, attracting and motivating employees, maintaining competitive pay, and rewarding contributions.
Compensation management
This document discusses compensation management and various components of employee remuneration. It covers direct compensation including base pay, incentives, and benefits, as well as indirect compensation such as job context, responsibilities, and growth prospects. It also discusses concepts related to wages, including minimum wage, living wage, fair wage, and different types of wages. Components of the wage structure and factors influencing wage and salary administration are also summarized.
Strategic role of compensation, strategic compensation policy, total compensa...
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Human resource strategy
The document discusses strategies for human resource management. It addresses assessing staffing needs, motivating employees, developing performance incentives, empowering managers and employees, and establishing employee benefit plans. Failure of HR strategies can result from disrupted social structures, improper job matching, or lack of management support. The summary effectively conveys the key topics and ideas discussed in the original document in 3 concise sentences.
Compensation practices
Compensation is the process of providing adequate, equitable and fair remuneration to the employees. It is what employees receive in exchange for their contribution to the organization. It is a comprehensive term which includes pay, incentives and benefits offered to the employees.
PURPOSEOF COMPENSATION
THE PAY MODEL
STRATEGIC COMPENSATION PLANNING
COMPENSATION POLICY ISSUES
Reward management ( part 1 )
This document discusses reward management and reward systems. It covers:
1. Reward management aims to recognize employee contributions and align rewards with business goals to promote high performance.
2. A reward system includes interrelated processes like business strategy, reward strategy, performance management, and job design that ensure effective reward management.
3. Key elements of a reward system include financial rewards like base pay, contingent pay, benefits; and non-financial rewards like recognition, development opportunities, and work environment. Grade and pay structures provide the framework to implement pay policies.
Compensation dimensions
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
Compensation & benefits
The document discusses compensation and benefits management. It defines key terms like salary, wages, and compensation. It outlines components of compensation including fixed pay, variable pay, benefits, and financial and non-financial rewards. It discusses factors that influence compensation strategy and policies, different compensation models and structures commonly used in India.
Compensation And Benefits In Hrm PowerPoint Presentation Slides
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
Compensation Management importance and factors influencing compensation
Compensation is what employees receive in exchange for their work, including both monetary and non-monetary benefits. It is important for both motivating employees and reducing costs for organizations. Many factors influence compensation, including external factors like the labor market, cost of living, unions, and laws, as well as internal factors like the organization's compensation policies, ability to pay, job analyses, and individual employee performance. Effective compensation systems can help organizations attract, retain, and motivate talented staff.
Compensation management
This document discusses compensation management. It defines compensation as the monetary and non-monetary value provided to employees in exchange for work. Compensation has objectives like recruiting qualified employees, increasing morale, and rewarding performance. Compensation has direct elements like base pay and bonuses, and indirect elements like insurance and retirement programs. Non-monetary compensation enhances satisfaction and relationships. Compensation is important for job descriptions, analysis, and structure. Factors affecting compensation include external factors like the economy and internal factors like compensation policies and an organization's ability to pay.
Compensation ppt
Compensation management involves designing total compensation packages to attract, motivate and retain employees. It includes direct monetary compensation like salary and incentives, as well as indirect compensation like benefits. Compensation objectives are to recruit and retain talent, boost morale and performance, and ensure legal and internal pay equity. Various factors like an employee's role, skills, market pay and organizational budget affect compensation. Common components of compensation include salary, bonuses, statutory benefits, and stock ownership plans.
Project report on compensation and benefits
This document provides an overview of compensation and benefits. It discusses compensation as an exchange between employees and employers, with employees receiving financial and non-financial rewards in return for their work. It also discusses the objectives of compensation systems, including attracting, retaining, and motivating employees, as well as ensuring fairness and equity. Key factors that influence compensation levels and structures are then outlined, including labor market conditions, legislation, collective bargaining agreements, management attitudes, and an organization's ability to pay.
More Related Content
What's hot
Compensation & Benefits Management - HRM
This document provides information about compensation and benefits management in 3 paragraphs:
1) It begins with a quote emphasizing the importance of retaining talented employees. It then provides a brief history of compensation, explaining salary, wages, and the meaning of compensation.
2) The next section defines total compensation and lists its main components such as basic pay, allowances, benefits, rewards, and incentives. It also discusses the purposes of compensation including attracting talent and motivating employees.
3) The final section provides details on the pay scale structure of the Indian Army, including ranks, pay bands, grade pay, military service pay, and various applicable allowances for roles like field area, high altitude, flying, and
Human Resource Management: Reward and compensation
This document discusses reward and compensation in human resource management. It defines reward as strategies and policies that fairly reward employees according to their value. Reward systems include pay structure, performance management, and total remuneration. The main objective of rewards is to attract, maintain, and retain high performing employees. Compensation includes salary, benefits, incentives, and allowances and aims to attract, retain, and motivate staff as well as drive changes and support the company's reputation. Effective compensation systems tie pay to employee performance and contributions.
Compensation&benefits
The document discusses compensation and benefits. It defines compensation as payment to employees for their contributions, which usually takes the form of wages and salaries. Benefits are non-payment forms of value provided to employees like healthcare. The document outlines different types of compensation including core compensation, adjustments, incentives and benefits. It discusses the purposes of compensation for both employers and employees. Factors that influence compensation and the constituents and laws around compensation structures are also examined. The goals of compensation professionals and departments are defined as aligning compensation with business objectives and strategy.
Compensation management
Here are some potential responses to AstraZeneca's questions:
1. Possible non-discriminatory explanations for the pay differences could include differences in average years of experience, differences in average performance ratings if incentive pay was involved, or differences in roles and responsibilities if job descriptions were not tightly controlled. A detailed analysis of individual employee data would be needed to determine the true causes.
2. To ensure pay equity going forward using your point method: conduct annual pay equity audits comparing pay by gender within each job class; educate managers on setting pay objectively based only on point factors, not other attributes; establish a process for employees to confidentially report inequities and investigate/address any issues found.
3. I would
Compensation Strategy
The compensation strategy is the essential strategy for the business, which wants to eliminate the external competition from attacking the top talents. The company has to define its position on the job market, it has to identify bene
Compensation management
This document discusses compensation management. It defines compensation management as providing both monetary and non-monetary rewards to employees in exchange for their work. It outlines the key components of compensation management, including direct monetary compensation like salary and bonuses, indirect compensation like insurance and retirement plans, and non-monetary compensation like recognition and satisfaction. The document also discusses strategies for compensation management, including paying employees based on their position, personal skills, or performance. It concludes by outlining the steps to develop an effective total compensation strategy.
Compensation management
This document discusses compensation and wage theories. It provides an overview of different types of compensation including direct and indirect compensation. It also covers various wage concepts like minimum wage, living wage, and fair wage. Several theories that seek to explain how wages are determined are outlined, including the subsistence theory, wage fund theory, surplus value theory, residual claimant theory, marginal productivity theory, bargaining theory, and behavioural theory. The goals of compensation administration are noted as designing a cost-effective pay structure to attract, motivate and retain competent employees.
Objectives of compensation management
The basic objective of compensation management can be briefly termed as meeting the needs of both employees and the organization. The Employer wants to pay little salaries and wages to the workers to manage their working costs. Employees wants to get paid high as possible.
Compensation management
This document discusses compensation and wage determination. It begins by defining compensation and discussing different types of compensation including direct and indirect compensation. It then covers various wage concepts like minimum wage, living wage, and fair wage. Different theories of wage determination are explained such as subsistence theory, wage fund theory, and marginal productivity theory. Key factors that influence wage determination are also outlined, including the organization's ability to pay, supply and demand of labor, prevailing market rates, and cost of living. The document concludes by describing the typical steps involved in the wage determination process within an organization.
Reward management
Reward management aims to reward employees fairly based on their value to an organization. An effective reward strategy links compensation to business objectives, has well-designed pay programs tailored to employee needs, and supports organizational goals. A reward strategy provides intrinsic and extrinsic rewards to satisfy individual and organizational needs. Principles of an effective reward strategy include developing policies that support business goals, attracting and motivating employees, maintaining competitive pay, and rewarding contributions.
Compensation management
This document discusses compensation management and various components of employee remuneration. It covers direct compensation including base pay, incentives, and benefits, as well as indirect compensation such as job context, responsibilities, and growth prospects. It also discusses concepts related to wages, including minimum wage, living wage, fair wage, and different types of wages. Components of the wage structure and factors influencing wage and salary administration are also summarized.
Strategic role of compensation, strategic compensation policy, total compensa...
This PowerPoint deals with the Strategic role of compensation in the organization. States how you develop a total compensation strategy and also strategic compensation planning.
Human resource strategy
The document discusses strategies for human resource management. It addresses assessing staffing needs, motivating employees, developing performance incentives, empowering managers and employees, and establishing employee benefit plans. Failure of HR strategies can result from disrupted social structures, improper job matching, or lack of management support. The summary effectively conveys the key topics and ideas discussed in the original document in 3 concise sentences.
Compensation practices
Compensation is the process of providing adequate, equitable and fair remuneration to the employees. It is what employees receive in exchange for their contribution to the organization. It is a comprehensive term which includes pay, incentives and benefits offered to the employees.
PURPOSEOF COMPENSATION
THE PAY MODEL
STRATEGIC COMPENSATION PLANNING
COMPENSATION POLICY ISSUES
Reward management ( part 1 )
This document discusses reward management and reward systems. It covers:
1. Reward management aims to recognize employee contributions and align rewards with business goals to promote high performance.
2. A reward system includes interrelated processes like business strategy, reward strategy, performance management, and job design that ensure effective reward management.
3. Key elements of a reward system include financial rewards like base pay, contingent pay, benefits; and non-financial rewards like recognition, development opportunities, and work environment. Grade and pay structures provide the framework to implement pay policies.
Compensation dimensions
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
Compensation & benefits
The document discusses compensation and benefits management. It defines key terms like salary, wages, and compensation. It outlines components of compensation including fixed pay, variable pay, benefits, and financial and non-financial rewards. It discusses factors that influence compensation strategy and policies, different compensation models and structures commonly used in India.
Compensation And Benefits In Hrm PowerPoint Presentation Slides
Presenting this set of slides with name - Compensation And Benefits In Hrm Powerpoint Presentation Slides. This complete deck is oriented to make sure you do not lag in your presentations. Our creatively crafted slides come with apt research and planning. This exclusive deck with thirty five slides is here to help you to strategize, plan, analyse, or segment the topic with clear understanding and apprehension. Utilize ready to use presentation slides on Compensation And Benefits In Hrm Powerpoint Presentation Slide with all sorts of editable templates, charts and graphs, overviews, analysis templates. It is usable for marking important decisions and covering critical issues. Display and present all possible kinds of underlying nuances, progress factors for an all inclusive presentation for the teams. This presentation deck can be used by all professionals, managers, individuals, internal external teams involved in any company organization.
Compensation Management importance and factors influencing compensation
Compensation is what employees receive in exchange for their work, including both monetary and non-monetary benefits. It is important for both motivating employees and reducing costs for organizations. Many factors influence compensation, including external factors like the labor market, cost of living, unions, and laws, as well as internal factors like the organization's compensation policies, ability to pay, job analyses, and individual employee performance. Effective compensation systems can help organizations attract, retain, and motivate talented staff.
Compensation management
This document discusses compensation management. It defines compensation as the monetary and non-monetary value provided to employees in exchange for work. Compensation has objectives like recruiting qualified employees, increasing morale, and rewarding performance. Compensation has direct elements like base pay and bonuses, and indirect elements like insurance and retirement programs. Non-monetary compensation enhances satisfaction and relationships. Compensation is important for job descriptions, analysis, and structure. Factors affecting compensation include external factors like the economy and internal factors like compensation policies and an organization's ability to pay.
What's hot (20)
Human Resource Management: Reward and compensation
Human Resource Management: Reward and compensation
Strategic role of compensation, strategic compensation policy, total compensa...
Strategic role of compensation, strategic compensation policy, total compensa...
Compensation And Benefits In Hrm PowerPoint Presentation Slides
Compensation And Benefits In Hrm PowerPoint Presentation Slides
Compensation Management importance and factors influencing compensation
Compensation Management importance and factors influencing compensation
Viewers also liked
Compensation ppt
Compensation management involves designing total compensation packages to attract, motivate and retain employees. It includes direct monetary compensation like salary and incentives, as well as indirect compensation like benefits. Compensation objectives are to recruit and retain talent, boost morale and performance, and ensure legal and internal pay equity. Various factors like an employee's role, skills, market pay and organizational budget affect compensation. Common components of compensation include salary, bonuses, statutory benefits, and stock ownership plans.
Project report on compensation and benefits
This document provides an overview of compensation and benefits. It discusses compensation as an exchange between employees and employers, with employees receiving financial and non-financial rewards in return for their work. It also discusses the objectives of compensation systems, including attracting, retaining, and motivating employees, as well as ensuring fairness and equity. Key factors that influence compensation levels and structures are then outlined, including labor market conditions, legislation, collective bargaining agreements, management attitudes, and an organization's ability to pay.
HRM process
This document from Biz/ed discusses several aspects of human resource management. It addresses topics like recruitment, selection, employment legislation, discipline, development, training, rewards systems, trade unions, and productivity. For each topic, it provides a brief overview and copyright statement. The overall document serves as a high-level introduction to key areas within human resource management.
Compensation management
Payroll systems that determine compensation are an important part of business strategy, though debates continue on the best ways to reward employee performance. Objectives of compensation include attracting good employees and recognizing individual ability and effort, while being influenced by management philosophy, market forces, and regulations. Compensation includes direct payments as well as benefits like medical aid and pension that together form an employee's total compensation package.
Chapter 10 compensation and benefits
The document discusses various components of compensation and benefits packages including base salary, incentives, and retirement plans. It describes different types of wages and salaries as well as individual, group, and plant-wide incentive plans. The compensation administration process involves job analysis, evaluation, surveys to develop pay structures. Effective compensation management considers compensation policies, market factors, and communicating packages to employees.
Compensation management & types
This document discusses compensation and benefits for employees. It defines direct compensation as monetary benefits like salary, bonuses, and allowances given regularly. Indirect compensation refers to non-monetary benefits like leave policies, insurance, and retirement benefits. The goal of compensation is to attract, retain, and motivate qualified employees by offering competitive pay and incentives based on job performance. An effective compensation system is designed by considering the organization's goals and balancing both direct and indirect rewards.
Compensation Management 1
The document discusses compensation management and defines compensation as all forms of financial returns, tangible services, and benefits that an employee receives during employment. It outlines different components of compensation including basic wages, incentives, and benefits. The objectives of compensation planning are discussed as well as theories of wage determination such as traditional theory based on market forces and theory of negotiated wages through collective bargaining. Different types of wages like time rates, piece rates, and minimum wages are also summarized.
Study of Performance and Compensation at Infosys Ltd.
Infosys is a global IT consulting firm founded in 1981 with revenues of $6.6 billion. It has a vision to be a globally respected corporation and a mission of fairness, honesty, and courtesy. Infosys values include client value, leadership by example, integrity, fairness, and excellence. Infosys conducts bi-annual performance reviews using tools like PerforMagic and provides compensation based on a lead salary strategy compared to industry. Key areas impacted by performance ratings are incentives, salary reviews, and promotions.
Toyota compensation
Toyota compensation Power point presentation for Compensation Management Subject
S I SOBUJ
Student of IUBAT
UTTARA, DHAKA-1230
case study of Nestle comapny
Case study of HRD of Nestle company. useful for management students as well as students of engineering.
Eva And Compensation Management System At Tata Consultancy
Tata Consultancy Services adopted an EVA (Economic Value Added) compensation system in 1999 and a TBEM (Tata Business Excellence Model) based on a balanced scorecard approach. Some key aspects included ranking highly in employee satisfaction surveys, having one of the lowest employee attrition rates in the industry, and becoming the first Indian company to reach PCMM level 5 certification. While the EVA and TBEM systems provided many benefits initially, issues arose such as employees not feeling accountable for projects they didn't invest in, and negative perceptions resulting from layoffs. Recommended solutions included modifying the EVA system to be project-based and conducting exit interviews to retain high performers during layoffs.
Factors affecting wages & salaries
This document discusses factors that influence wage and salary structures and administration. It identifies six main factors: productivity, an organization's capacity to pay, managerial attitudes, going wages and salaries paid by other companies, supply and demand of labor, and cost of living. It notes that productivity, capacity to pay, and cost of living are particularly important determinants. The document also lists some additional influencing factors such as labor costs, job requirements, union pressures, an organization's desire to build goodwill, and government policies and legislation.
Compensation Case Study
The document discusses strategies for compensation philosophy and plans after a bank merger. It proposes:
1) Targeting salaries in the top quartile of the market to attract and retain high-performing employees.
2) Developing clear job expectations and descriptions to communicate the demanding performance standards required for above-market compensation.
3) Gathering input from employees, management, industry trends, and market practices to design fair, communicative compensation plans that balance short-term and long-term interests.
Competency mapping
Competency mapping is the process of identifying the competencies needed to successfully perform a given job or role. It involves breaking down a role into its constituent tasks and activities and identifying the technical, behavioral, and conceptual knowledge and skills required. Competency mapping creates an accurate job profile that defines expectations for both candidates and employees, and helps align employee efforts with organizational needs. It provides transparency that can motivate employees while helping the organization achieve its strategic goals. Competencies are identified through methods like interviews, group work, and questionnaires with input from managers, current role holders, and others interacting with the role.
Competency mapping
QuickTime and an H.263 decompressor are needed to view the picture. This summary indicates that the document discusses a picture that requires QuickTime and an H.263 decompressor to be viewed.
Human resource management process
Human resource management involves recruiting, selecting, training, developing and managing employees to achieve organizational goals. It includes human resource planning to ensure the organization has the right people with the right skills. The key components of an HRM system are recruitment, training, compensation, performance management and career development.
Competency mapping ppt
Competency mapping involves determining the skills, knowledge, and behaviors required for a job role. It creates an accurate job profile used for selecting, recruiting, and retaining employees. Competency mapping identifies key attributes for each position through job analysis and behavioral interviews. It allows organizations to focus on core competencies, manage time effectively, and build competitive advantages. Competency mapping aids recruitment, performance appraisal, training, development, and pay systems.
Turnaround Strategies
The document discusses various turnaround strategies that companies can employ when facing declining performance or a crisis. It outlines performing a SWOT/TOWS analysis to identify internal and external factors contributing to the decline. There are two main types of turnaround strategies: operational strategies focused on improving business operations, and strategic strategies focused on adjusting the company's product/market profile. The document provides examples of specific turnaround tactics and outlines a typical road map process from initial crisis response to sustainable recovery.
Viewers also liked (18)
Study of Performance and Compensation at Infosys Ltd.
Study of Performance and Compensation at Infosys Ltd.
Eva And Compensation Management System At Tata Consultancy
Eva And Compensation Management System At Tata Consultancy
Similar to Compensation Management
Compensation Planning
This document discusses compensation planning and administration. It defines compensation as what employees receive in exchange for their services, which can include base pay, variable pay, and benefits. The objectives of compensation planning are to ensure fairness, attract and retain talent, and reward desired behaviors. Base compensation includes wages and salaries, while supplementary compensation includes incentive payments based on performance. Effective compensation administration establishes equitable pay scales and controls costs while attracting qualified employees and complying with legal regulations.
Compensation & maintenance
The document discusses compensation and job evaluation. It defines compensation as consisting of base pay, supplementary compensation like benefits, and incentive pay. It describes the process of job evaluation which involves analyzing and ranking jobs based on factors like skills, effort, responsibilities to determine appropriate pay levels. Job evaluation seeks to establish a fair and equitable compensation system and provide a basis for pay decisions. Common methods of job evaluation include ranking, grading, and point-based systems.
Variable pay
The document discusses variable pay, including:
- Variable pay aims to reward employees for objectives and results beyond regular job responsibilities, while fixed pay compensates for day-to-day work.
- There are three categories of variable pay: incentives, bonuses, and recognition. Incentives are tied to pre-determined criteria while bonuses are for completing specific tasks. Recognition is more subjective.
- An effective variable pay program is linked to business objectives, has clear purposes and performance measures, and considers factors like eligibility, funding, and implementation.
- In India, the ratio of fixed to variable pay is shifting, with variable pay expected to increase to 25-30% on average from the previous 10-
C & b 21 jan 2011
The document discusses compensation and benefits management. It defines key terms like salary, wages, and compensation. It outlines components of compensation including fixed pay, variable pay, benefits, and financial and non-financial rewards. It discusses factors that influence compensation strategy and policies, different compensation models and structures commonly used in India.
compensation.pptx
Compensation management involves designing total compensation packages to attract, motivate and retain employees. It includes direct pay like salary as well as indirect benefits. Compensation aims to achieve business goals while meeting legal requirements. Factors like an employee's role, market pay and organizational needs determine compensation. Common elements are basic pay, incentives, and statutory benefits. Recent trends include stock ownership plans and long-term incentive programs.
Compensation planning
This document discusses compensation planning and various components of compensation. It covers direct and indirect compensation, objectives of compensation, types of compensation including wages, salary, incentives, fringe benefits and perks. It describes different wage systems like time rate, piece rate and balance method. It also discusses wage fixation, differentials and various incentive plans.
7.performance linked pay
This document discusses various types of performance-linked pay programs. It describes individual incentive programs like commission and individual performance-related pay that reward individual output. Group programs like profit-sharing and gain-sharing that compensate employees based on group or organizational performance are also discussed. The document outlines some criticisms of traditional merit pay programs and contrasts performance-linked pay with other compensation approaches like salary and bonuses. Both the potential benefits of performance pay in improving motivation as well as the risks of damaging relationships and risk-taking are presented.
Main components of Compensation AND PAY RATES DETERMINATION
The document discusses the main components of compensation which are broadly grouped into four categories: base pay, incentive pay, benefits, and wage and salary add-ons. Base pay is the fixed guaranteed pay an employee receives. Incentive pay rewards employees for exceeding goals or expectations. Benefits provide non-financial value to employees like health insurance. Wage and salary add-ons provide additional financial security and include things like overtime pay. Determining appropriate pay rates involves considering internal factors like job performance as well as external factors like market rates and cost of living.
Compensation management
Compensation management involves designing total compensation packages to provide monetary and non-monetary value to employees in exchange for work. It aims to recruit and retain qualified employees, increase morale, and reward job performance. Compensation is important for attracting and retaining talent, motivating performance, ensuring cost-effectiveness, and building an institutionally effective organization that complies with legal requirements. Compensation includes direct monetary benefits like salary and allowances, and indirect non-monetary benefits like paid leave and insurance. It is determined based on factors like an employee's skills, responsibilities, working conditions, the organization's affordability, and market rates.
Compensation {pp t
Compensation management involves designing and implementing a total compensation package to provide monetary value to employees in exchange for work. It is an important part of human resource management that helps attract, retain, and motivate talent. Compensation includes direct pay like salary as well as indirect benefits and incentives that can achieve business and employee goals. Factors like an employee's skills, market rates, and organizational affordability influence compensation structure, which is also governed by employment laws.
Assessing job worth
1. Assessing job worth involves determining a pay structure where higher paid jobs are those with greater worth to the organization. Methods of assessing worth include traditional approaches considering internal/external factors, broad banding with wider pay ranges, and pay for specific skills/knowledge.
2. Developing a wage structure is a multi-step process including job analysis, documentation, determining relative worth, and establishing salary ranges specific to locations. Structures consider market benchmarks and internal equity.
3. Compensation plans include base salary ranges with midpoints, as well as benefits, incentives, and performance-based increases to attract, retain, and motivate employees while controlling costs and ensuring legal compliance.
Compensation
The document discusses compensation and its components. It defines compensation as all forms of pay arising from employee performance, including both financial and non-financial rewards. Compensation includes direct payments like wages and salaries, indirect payments like benefits, and performance-based versus membership-based rewards. It also outlines the purposes, factors, and processes involved in establishing compensation rates.
Compensation practices
COMPENSATION PRACTICES
Compensation is the process of providing adequate, equitable and fair remuneration to the employees. It is what employees receive in exchange for their contribution to the organization. It is a comprehensive term which includes pay, incentives and benefits offered to the employees.
PURPOSEOF COMPENSATION
THE PAY MODEL
STRATEGIC COMPENSATION PLANNING
COMPENSATION POLICY ISSUES
COMPENSATION ADMINISTRATION PROCESS
CLASSIFICATION OF REWARDS
COMPONETS OF FINANCIAL COMPENSATION
BASE PAY
VARIABLE PAY/PAY FOR PERFORMANCE : INCENTIVES
TYPES OF INCENTIVES
Incentive Pay
This document discusses variable pay plans and how to design effective incentive programs. It outlines several key elements: defining measurable performance criteria and goals, determining appropriate incentive payout frequencies and amounts, and establishing thresholds and caps. It also identifies important issues to resolve such as setting clear objectives, selecting the right performance factors, ensuring goals are realistic, and providing resources and feedback to support participants. Well-designed variable pay plans can motivate employees by linking meaningful rewards to achieving business-critical results.
Executive compensation ashish#1
Executive compensation consists of four main elements: salary, bonus, long-term incentives, and perquisites. Salary makes up 40-60% of compensation but is not very significant on its own. Bonuses are based on company or individual performance. Long-term incentives include stock options that increase in value as share prices rise. Perquisites provide benefits like cars, club memberships, and other special privileges. Companies design compensation packages to attract, retain, and motivate top executive talent through salaries and various performance-based incentives.
executivecompensation-ashish1-140818150508-phpapp01
Executive compensation consists of four main elements: salary, bonus, long-term incentives, and perquisites. Salary makes up 40-60% of compensation but is not very significant on its own. Bonuses are based on company or individual performance. Long-term incentives include stock options that increase in value as share prices rise. Perquisites provide benefits like cars, club memberships, and other special privileges. Companies design compensation packages to attract, retain, and motivate top executive talent through salaries and various performance-based incentives.
compnsation c-1 2015.pptx
This document provides an introduction to compensation management. It defines compensation as all forms of pay received by employees in exchange for their work, including both financial and non-financial compensation. Financial compensation includes direct payments like salaries, wages, bonuses, and commissions as well as indirect fringe benefits like healthcare, retirement plans, and paid time off. Non-financial compensation includes recognition, job security, and responsibility. The objectives and principles of compensation management are discussed, such as acquiring qualified employees, ensuring pay equity, and controlling costs. Factors that influence compensation decisions include supply and demand for labor, cost of living, and union involvement.
Executive compensation
Executive compensation consists of salary, bonus, long-term incentives, and perquisites. Salary makes up 40-60% of compensation but is subject to taxes, while bonuses and stock options are incentives. Perquisites include benefits like cars, clubs, and first-class travel. Compensation also includes retirement benefits, health insurance, and vacations. Unique features of executive pay include secrecy, varying amounts between executives, and tying pay to organizational performance. Companies use various strategies like cost-to-company packages, performance-linked payments, and flexible benefits to motivate and retain executives.
Executive compensation
Executive compensation consists of salary, bonus, long-term incentives, and perquisites. Salary makes up 40-60% of compensation but is subject to taxes, while bonuses and stock options are incentives. Perquisites include benefits like cars, clubs, and first-class travel. Compensation also includes retirement benefits, health insurance, and vacations. Unique features of executive pay include secrecy, varying amounts between executives, and tying pay to organizational performance. Companies use various strategies like cost-to-company packages, performance-linked payments, and flexible benefits to motivate and retain executives.
Executive compensation
Executive compensation consists of salary, bonus, long-term incentives, and perquisites. Salary makes up 40-60% of compensation but is subject to taxes, while bonuses and stock options are meant to motivate and incentivize. Perquisites include benefits like cars, club memberships, and first-class travel. Compensation packages also include retirement benefits, health insurance, and vacations. Public sector executive pay is much lower than private sector. Companies determine pay based on job complexity, their ability to pay, and the executive's human capital.
Similar to Compensation Management (20)
Main components of Compensation AND PAY RATES DETERMINATION
Main components of Compensation AND PAY RATES DETERMINATION
executivecompensation-ashish1-140818150508-phpapp01
executivecompensation-ashish1-140818150508-phpapp01
Recently uploaded
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN CHART KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART INDIA MATKA KALYAN SATTA MATKA 420 INDIAN MATKA SATTA KING MATKA FIX JODI FIX FIX FIX SATTA NAMBAR MATKA INDIA SATTA BATTA
Enhancing Adoption of AI in Agri-food: Introduction
Introduction to the Panel on: Pathways and Challenges: AI-Driven Technology in Agri-Food, AI4Food, University of Guelph
“Enhancing Adoption of AI in Agri-food: a Path Forward”, 18 June 2024
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian Matka
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...❼❷⓿❺❻❷❽❷❼❽ Dpboss Kalyan Satta Matka Guessing Matka Result Main Bazar chart
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night 1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Tesla Energy rEVolution And The Golden Age For Copper: Kirill Klip GEM Royalty TNR Gold Copper Presentation
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...➒➌➎➏➑➐➋➑➐➐Dpboss Matka Guessing Satta Matka Kalyan Chart Indian Matka
Sattamatka.satta.matka.satta matka.kalyan weekly chart.kalyan chart.kalyan jodi chart.kalyan penal chart.kalyan today.kalyan open.fix satta.fix fix fix Satta matka nambarIMG_20240615_091110.pdf dpboss guessing
Satta matka fixx jodi panna all market dpboss matka guessing fixx panna jodi kalyan and all market game liss cover now 420 matka office mumbai maharashtra india fixx jodi panna
Call me 9040963354
WhatsApp 9040963354
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Transport Solution
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Lithium Will Power Us For The Next 50 Years And Then Robots: Kirill Klip GEM Royalty TNR Gold Lithium Presentation
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
Nathalie zal delen hoe DEI en ESG een fundamentele rol kunnen spelen in je merkstrategie en je de juiste aansluiting kan creëren met je doelgroep. Door middel van voorbeelden en simpele handvatten toont ze hoe dit in jouw organisatie toegepast kan worden.
AI Transformation Playbook: Thinking AI-First for Your Business
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
High-Quality IPTV Monthly Subscription for $15
Experience high-quality entertainment with our IPTV monthly subscription for just $15. Access a vast array of live TV channels, movies, and on-demand shows with crystal-clear streaming. Our reliable service ensures smooth, uninterrupted viewing at an unbeatable price. Perfect for those seeking premium content without breaking the bank. Start streaming today!
https://rb.gy/f409dk
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
SATTA MATKA DPBOSS KALYAN MATKA RESULTS KALYAN MATKA MATKA RESULT KALYAN MATKA TIPS SATTA MATKA MATKA COM MATKA PANA JODI TODAY BATTA SATKA MATKA PATTI JODI NUMBER MATKA RESULTS MATKA CHART MATKA JODI SATTA COM INDIA SATTA MATKA MATKA TIPS MATKA WAPKA ALL MATKA RESULT LIVE ONLINE MATKA RESULT KALYAN MATKA RESULT DPBOSS MATKA 143 MAIN MATKA KALYAN MATKA RESULTS KALYAN CHART KALYAN CHART
Efficient PHP Development Solutions for Dynamic Web Applications
Unlock the full potential of your web projects with our expert PHP development solutions. From robust backend systems to dynamic front-end interfaces, we deliver scalable, secure, and high-performance applications tailored to your needs. Trust our skilled team to transform your ideas into reality with custom PHP programming, ensuring seamless functionality and a superior user experience.
Prescriptive analytics BA4206 Anna University PPT
Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
Prescriptive Modeling
Non Linear Optimization
Demonstrating Business Performance Improvement
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...YourLegal Accounting
Effective financial management is important for expansion and scalability in the ever-changing US business environment. White Label Bookkeeping services is an innovative solution that is becoming more and more popular among businesses. These services provide a special method for managing financial duties effectively, freeing up companies to concentrate on their main operations and growth plans. We’ll look at how White Label Bookkeeping can help US firms expand and develop in this blog.Recently uploaded (20)
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Enhancing Adoption of AI in Agri-food: Introduction
Enhancing Adoption of AI in Agri-food: Introduction
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
Call 8867766396 Dpboss Matka Guessing Satta Matta Matka Kalyan Chart Indian M...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Fin...
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
1Q24_HYUNDAI CAPITAL SERVICES INC. AND SUBSIDIARIES
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Registered-Establishment-List-in-Uttarakhand-pdf.pdf
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Kirill Klip GEM Royalty TNR Gold Copper Presentation
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Dpboss Matka Guessing Satta Matta Matka Kalyan panel Chart Indian Matka Dpbos...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Sustainable Logistics for Cost Reduction_ IPLTech Electric's Eco-Friendly Tra...
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
Kirill Klip GEM Royalty TNR Gold Lithium Presentation
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...
AI Transformation Playbook: Thinking AI-First for Your Business
AI Transformation Playbook: Thinking AI-First for Your Business
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart
Efficient PHP Development Solutions for Dynamic Web Applications
Efficient PHP Development Solutions for Dynamic Web Applications
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
The Role of White Label Bookkeeping Services in Supporting the Growth and Sca...
Compensation Management
- 3. The employees are motivated for better performance.
- 5. Bonus at the end of the year.
- 6. Economic benefits such as paid holidays, L.T.C.
- 7. Contribution towards insurance premium.
- 8. Transport and medical facilities.
- 11. Work experience
- 12. Hazards involved in works
- 14. Demand for special skills
- 17. Fair wage
- 19. Piece wage plan
- 20. Skill-based pay
- 23. Competency-Based Pay Limitations(How many?) PricingCompetencies Competency-Based Pay SystemsKBP/SBP Maintenance ofCompetencies Training
- 25. Rewards
- 29. rewards employees for years of service with the company.
- 30. Profit Sharing Plans
- 31. certain percentage of profits is distributed
- 32. Stock Options
- 33. employees are given the option of purchasing the company’s stock
- 34. Performance Bonus Plans
- 36. Non-monetary incentives Non-monetary incentives are used to reward participants for excellent behavior through opportunities.
- 37. Payment of bonus act,1965 Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year. PAYMENT OF GRATUITY,1972 The Payment of Gratuity Act 1972 is a social security enactment. Gratuity shall be paid to an employee on the termination of his employment after she/he has rendered continuous service of not less than 5 years i.e. on superannuation, retirement, resignation, death or disablement due to accident or disease