The document discusses compensation and incentive plans for employees. It covers establishing equitable pay levels both internally and externally. Various forms of pay are mentioned including fixed compensation, variable pay tied to performance or productivity, and benefits. Individual, group, and organizational incentive plans are examined along with factors that enable their success. The document recommends a balanced approach of fixed and variable pay tailored to employee levels.

3. • To acquire qualified competent personnel
• To retain the present employees
• To secure internal and external equity
•
• To ensured desired behavior

4. BASIC + HRA +Travelling allowance +Medical
Reimbursement+ DA
Fringe Benefits , Perks , Incentives
Provident Fund + Professional
Tax

5. PAY FOR KNOWLEDGE
SKILL BASED PAY
Broad banding

6. Remuneration in comparable
industries
Firm’s ability to pay
Productivity
Union
Pressure
Cost of
living
Government
Legislation

8. Individual
GROUP
Oraganizational

9. Necessary Conditions For Individual Incentive Plans
TypesHalsey Premium Plan , Rowan Plan , Straight Piece Rate ,
Differential Piece Rate System , Taylor’s Piece Rate Plan ,
Merric’s Piece Rate Plan
9

10. Conditions for Successful
Group/Team Incentives
10

11. Some other methods for Variable incentives
•
•
•
•
•
•
•
Profit Sharing
Gain Sharing
Employee Stock Ownership Plan
Bonus
Awards
Recognition Awards
Gratuity Pay

13.  Moderate towards Variable compensation
 We believe in long-term Incentive plans
 % increments are higher at junior level
 Fixed + Variable plan

60 % + 40 % (senior level)

40 % + 60 % (higher level)
 Pay of variables at last quarter of the year