Employee compensation consists of basic compensation and supplementary compensation. Basic compensation refers to the employee's basic pay scale, while supplementary compensation includes allowances and perks. Allowances provide monetary payments for specific purposes like housing, transportation, or children's education. Perks refer to non-monetary benefits like housing, utilities, loans, travel reimbursement, or access to facilities. Common allowances include house rent allowance, dearness allowance, city compensatory allowance, and conveyance allowance.
Components of compensation means components of remuneration to employees. An average employees in the organized sector is usually entitled to various benefits. Compensation is a payment made in cash to the employee in return of the contribution that he/she makes in the organization.
1. Base Pay Structure (Fixed component);
2. Variable Pay Programs;
3. Benefits;
4. Rewards & Recognition
Desighning employee benefits and servicesamsalu123
When an organization design overall its compensation program, a critical areas of concern is what benefits to provide. Today’s workers expect more than just an hourly wage or a salary; they want additional considerations that will enrich their lives. These considerations in and employment setting are called employee benefits.
salaries, income from salaries, taxable salaries, employer, employee, advnace salary, arrears of salary, bonus, tds, tax deducted at source,
profit in lieu of salary, dearness allowance, allownaces, provident fund, perquisites, medical treatment, entertainment allowance,
professional tax, tax on employment,
Components of compensation means components of remuneration to employees. An average employees in the organized sector is usually entitled to various benefits. Compensation is a payment made in cash to the employee in return of the contribution that he/she makes in the organization.
1. Base Pay Structure (Fixed component);
2. Variable Pay Programs;
3. Benefits;
4. Rewards & Recognition
Desighning employee benefits and servicesamsalu123
When an organization design overall its compensation program, a critical areas of concern is what benefits to provide. Today’s workers expect more than just an hourly wage or a salary; they want additional considerations that will enrich their lives. These considerations in and employment setting are called employee benefits.
salaries, income from salaries, taxable salaries, employer, employee, advnace salary, arrears of salary, bonus, tds, tax deducted at source,
profit in lieu of salary, dearness allowance, allownaces, provident fund, perquisites, medical treatment, entertainment allowance,
professional tax, tax on employment,
Public Speaking Tips to Help You Be A Strong Leader.pdfPinta Partners
In the realm of effective leadership, a multitude of skills come into play, but one stands out as both crucial and challenging: public speaking.
Public speaking transcends mere eloquence; it serves as the medium through which leaders articulate their vision, inspire action, and foster engagement. For leaders, refining public speaking skills is essential, elevating their ability to influence, persuade, and lead with resolute conviction. Here are some key tips to consider: https://joellandau.com/the-public-speaking-tips-to-help-you-be-a-stronger-leader/
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Comparing Stability and Sustainability in Agile SystemsRob Healy
Copy of the presentation given at XP2024 based on a research paper.
In this paper we explain wat overwork is and the physical and mental health risks associated with it.
We then explore how overwork relates to system stability and inventory.
Finally there is a call to action for Team Leads / Scrum Masters / Managers to measure and monitor excess work for individual teams.
12 steps to transform your organization into the agile org you deservePierre E. NEIS
During an organizational transformation, the shift is from the previous state to an improved one. In the realm of agility, I emphasize the significance of identifying polarities. This approach helps establish a clear understanding of your objectives. I have outlined 12 incremental actions to delineate your organizational strategy.
Enriching engagement with ethical review processesstrikingabalance
New ethics review processes at the University of Bath. Presented at the 8th World Conference on Research Integrity by Filipa Vance, Head of Research Governance and Compliance at the University of Bath. June 2024, Athens
A presentation on mastering key management concepts across projects, products, programs, and portfolios. Whether you're an aspiring manager or looking to enhance your skills, this session will provide you with the knowledge and tools to succeed in various management roles. Learn about the distinct lifecycles, methodologies, and essential skillsets needed to thrive in today's dynamic business environment.
Org Design is a core skill to be mastered by management for any successful org change.
Org Topologies™ in its essence is a two-dimensional space with 16 distinctive boxes - atomic organizational archetypes. That space helps you to plot your current operating model by positioning individuals, departments, and teams on the map. This will give a profound understanding of the performance of your value-creating organizational ecosystem.
Employment PracticesRegulation and Multinational CorporationsRoopaTemkar
Employment PracticesRegulation and Multinational Corporations
Strategic decision making within MNCs constrained or determined by the implementation of laws and codes of practice and by pressure from political actors. Managers in MNCs have to make choices that are shaped by gvmt. intervention and the local economy.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
Integrity in leadership builds trust by ensuring consistency between words an...Ram V Chary
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
Specific ServPoints should be tailored for restaurants in all food service segments. Your ServPoints should be the centerpiece of brand delivery training (guest service) and align with your brand position and marketing initiatives, especially in high-labor-cost conditions.
408-784-7371
Foodservice Consulting + Design
2. COMPONENTS OF REMUNERATION
Components of employee
compensation could be divided
into two categories viz.
1)Basic compensation and
2)Supplementary
compensation.
Again supplementary
compensation comprises
allowances and perquisites or
perks.
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2
3. COMPONENTS OF REMUNERATION
Basic Compensation:
Basic compensation refers to the basic pay of an employee which
is usually expressed in terms of a pay scale e.g. 5,000-200-10,000-
500 -20000 etc. This pay scale implies that an employee will get a
basic pay of Rs. 5000 per month on joining the organization.
The employee will get an increment of Rs. 200 per year till he/ she
reaches the basic pay of Rs. 10,000 and after wards will be
entitled to an increment of Rs.500 per year till he / she reaches
the pay of Rs. 20,000 per month and so on. Basic pay for a job is
decided though a process of systematic job evaluation. In many
cases, Government fixed pay scales apply which employers have
to accept and implement.
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4. COMPONENTS OF REMUNERATION
Supplementary Compensation:
Supplementary compensation refers to payment
of allowances and provision of perks or
perquisites. Allowances refers to amounts of
money which are given to employees regularly for
particular purposes; while perks refer to
privileges enjoyed by a person because of his/her
organizational status and paid/provided in
addition to wages/ salaries.
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5. TYPES OF ALLOWANCES AND PERKS
Allowances:
(i) House Rent Allowances (HRA):
HRA is given by the employers to the employee to meet the
expenses in connection with the rent of the accommodation,
which the employee might have to take.
(ii) Dearness Allowances (DA):
DA is paid to employees to compensate them, at least
partially, against the phenomenon of rising prices. DA is
decided as per an agreed formula, taking into account the
increase, in the cost of living.
(iii) City Compensatory Allowance (CCA):
CCA is paid to employees to compensate them partly for
higher cost of living in cities, which differs from one type of
city to another.
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6. TYPES OF ALLOWANCES AND PERKS
(iv) Conveyance Allowance:
Conveyance allowance is an allowance granted to employees to
meet the expenditure incurred on conveyance in performance of
duties of job; when free conveyance is not provided by the
employer.
(v) Uniform Allowance:
It is an allowance which is granted to meet the expenditure
incurred on the purchase or maintenance of uniform for wear
during the performance of duties of job.
(vi) Children Education Allowance:
Amount paid at the rate of certain amount per child to meet the
cost of education of children (subject to a maximum of two
children or more as per rules of the organisation) is called
children education allowance.,
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6
7. TYPES OF ALLOWANCES AND PERKS
Underground Allowance:
This allowance is granted to an employee who is working in
uncongenial, unnatural climate in underground coal mines.
(viii) Miscellaneous Allowances:
Some other allowances payable to employees may
be:
1. Medical allowance
2. Lunch / Tiffin allowance
3. Overtime allowance
4. Non-practicing allowance (in case of doctors)
5. Servant allowance etc.
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8. TYPES OF ALLOWANCES AND PERKS
Perquisites/Perks:
(i) Rent free accommodation or accommodation provided to
employees at concessional rate. The accommodation may be
furnished or unfurnished.
(ii) Gas, electricity bill of employees paid or reimbursed.
(iii) Interest free or concessional loans to employees.
(iv) Leave Travel Concession (LTC) to employees.
(v) Free meals, tea and snacks, provided to employees.
(vi) Payment or reimbursement by the employer of club
membership of the employee and expenses incurred in a
club by the employee.
(vii) Use of laptops and computers by employees, belonging to
the employer.
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9. TYPES OF ALLOWANCES AND PERKS
viii) Motor car/ other vehicles, provided by the
employer to specified employees.
(ix) Provision by the employer of services of a
sweeper, a gardener, a watchman or a personal
attendant to specified employees.
(x) Re-imbursement of medical treatment expenses,
incurred on employee or members of his / her
family.
(xi) Contribution by the employer to recognised
provident fund, kept for the benefit of employees.
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