The document discusses designing compensation systems based on merit and individual contributions. It provides details on developing merit pay grids that tie salary increases to both performance ratings and an employee's position in their current salary range. It also discusses alternative sales compensation plans and designing pay for knowledge programs based on competencies. The document outlines steps for developing a competency model, mapping competencies to employees, analyzing competency gaps, and computing an overall compensation factor for each employee based on their competency ratings.
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)
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
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)
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
The retirement benefits mainly consist of the employees' leave encashment (employees are allowed to accumulate leaves and exchange them for cash on their retirement), retirement gratuity, and the amount that they were contributing to their provident fund account throughout their service.
The retirement benefits mainly consist of the employees' leave encashment (employees are allowed to accumulate leaves and exchange them for cash on their retirement), retirement gratuity, and the amount that they were contributing to their provident fund account throughout their service.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
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Now days the organizations use supplementary compensation over and above the base compensation. It helps in satisfying the employees as well as retaining them for long time.
Knowledge management portal โ keeps you connectedShilpa Malhotra
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While on one hand we talk of the increasing importance of Social Media, on the other hand we have blocked social media sites in offices. The presentation shows the importance of Social Media in changed times and how the KM Portal can still enable employees to collaborate and share within the organization even when social media sites are blocked.
Joe Brown's presentation from the June 2010 Nonprofit Human Resources Symposium at the University of San Diego outlines the steps nonprofit organizations can follow to develop an implement an effective, performance-based base salary compensation program.
Are you looking for a tried and true methodology for designing or updating your compensation plans? Join us for an exclusive presentation with global compensation consultantย John Rubino who will present a successful approach for developing an effective and competitive base salary program.
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In this webinar you will learn how leading global organizations are designing compensation plans to better utilize available budgets with a more strategic and streamlined approach.ย ย All of the necessary components will be discussed, including:
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ยทย ย Effective & compliant job descriptions that actually work;
ยทย ย The best approaches and compensation metrics for analyzing pay & making decisions
ยทย ย Quantitative tools for creating a competitive base salary structure;
ยทย ย Incentive pay plan essentials - designing plans that drive productivity & retention
ยทย ย Variable pay: how it works and are you ready for it.
This presentation is from a seminar for managers, executives and business owners who are focused on building high performance team\'s in today\'s economy.
How to Build a Business Case for Formalization of Learning AnalyticsHuman Capital Media
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This presentation will offer practical advice on how learning leaders should build a business case to formalize learning analytics into the L&D organization and budget. The session will cover critical tools and techniques to establish relevancy for learning measurement and positively create a culture supportive of L&D measurement.
Learning objectives:
Discuss examples of L&D metricsโ value to the organization.
Review techniques (KPIs, pilot/beta tests, financial analysis) to create a business case.
Provide an overview of the attributes necessary to create and sustain L&D analytics.
Keynote from Architecture World 2009 in Bangalore.
Explores the migration to Outside-In and its impact on the way we measure performance. More on this theme in the webinar series at http://www.bpgroup.org
Compensation and benefits manager certificationVskills
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Vskills Certification in Compensation and benefits assesses the candidate on the principal need of the organization which is establishing and maintaining a pay system which is fair to all. The certification tests the candidates in various areas which include methods to ensure fair and equitable pay, conducting surveys to compare their compensation systems with other companies and ensuring that the firmโs pay scale complies with changing laws and regulations.
http://www.vskills.in/certification/Certified-Compensation-and-Benefits-Manager
This is an example of the 21 Call Center Best Practices that I and my staff designed, developed and deployed to Call Centers. These practices delivered increased focus on the customers, increased agent morale, improved productivity, increased revenue and reduced turn-over. Within this presentation I have only presented the marketing data but we developed procedures, and training materials to go along with all the Call Center Best Practices we deployed globally. See the attached presentation for how all the Best Practices fit together to drive Customer Delight. For additional information please feel to contact Brian Hughes.
This is one approach in calculating the return of investment in training activities.
The nets benefits are calculated based on before and after training performance.
Calculating the costs of training is a matter of accumulating costs incurred on the relevant training activities.
Similar to Designing compensation system Part IV (20)
System of Compensating (Time Wage Plan, Piece Wage Plan, Balanced Wage Plan, Skill Based Pay, Competency Based Pay, Broad-banding, Variable Pay, Merits of Time Wage, Demerits of Time Wage,Time Wage Plan Environment, Merits of Piece Wage, Demerits of Piece Wage, Piece Wage Plan Environment, Merits of Balanced Wage, Factors Affecting Wages)
Concept of Reward and Total Reward System, Five Elements of Total Rewards (Compensation, Benefits, Work-Life, Performance & Recognition, Developmental & Career Opportunities)
Concept of Compensation, Exploring & Defining Compensation Context (Strategic Compensation, Total Compensation, Extrinsic Compensation, Intrinsic Compensation, Components of Compensation, Factors Influencing Compensation, Wage and Salary, Incentives, Fringe Benefits, Perquisites, Govt. Regulations for Compensation in India, Minimum Wage, Fair Wage, Living Wage, Calculation of Minimum Wages)
Building Market Competitive Compensation System โ Integrating Internal Job Structure with External Market Pay Rates: Compensation Surveys, Choosing Compensation Survey Conducted by Third Parties
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
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Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.๐คฏ
We will dig deeper into:
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2. How to leverage your testimonials to boost your sales ๐ฒ
3. How you can capture more CRM data to understand your audience better through video testimonials. ๐
"๐ฉ๐ฌ๐ฎ๐ผ๐ต ๐พ๐ฐ๐ป๐ฏ ๐ป๐ฑ ๐ฐ๐บ ๐ฏ๐จ๐ณ๐ญ ๐ซ๐ถ๐ต๐ฌ"
๐๐ ๐๐จ๐ฆ๐ฌ (๐๐ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"๐๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ง๐ญ ๐ข๐ฌ ๐ ๐ฌ๐ญ๐จ๐ซ๐ฒ, ๐ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ. ๐๐ ๐๐ฅ๐ฐ๐๐ฒ๐ฌ ๐๐๐ฅ๐ข๐๐ฏ๐ ๐ญ๐ก๐๐ญ ๐ฌ๐ก๐จ๐ซ๐ญ๐ฅ๐ฒ ๐ฒ๐จ๐ฎ ๐ฐ๐ข๐ฅ๐ฅ ๐๐ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐จ๐ฎ๐ซ ๐ฌ๐ญ๐จ๐ซ๐ข๐๐ฌ."
Memorandum Of Association Constitution of Company.pptseri bangash
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www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Putting the SPARK into Virtual Training.pptxCynthia Clay
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
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Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
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This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
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Attending a job Interview for B1 and B2 Englsih learnersErika906060
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Business Valuation Principles for EntrepreneursBen Wann
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This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
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Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
3. Designing Merit Pay Systems
๏ Merit increase amounts
๏ Diminishing marginal returns
๏ Just-meaningful differences
๏ Increase as substantive (equity theory)
๏ Timing
๏ Common review date
๏ Anniversary date
๏ Recurring vs. non-recurring merit pay increases
๏ Present level of base pay
๏ Rewarding performance: Merit pay grid
๏ Performance and position in range
3
5. Merit Pay Grid
Higher Pay for Performance
Performance (1)Well (2) (3) (4) (5) Well
Above Above Average Below Below
Position in Range Average Average Average Average
High % Low %
Q4
(max pay) 7% 5% 3% 1% 0%
Q3 Lo% 8% 6% 4% 2% 0%
Q2 9% 7% 5% 3% 0%
Q1
(min pay) Hi% 10% 8% 6% 4% 0%
Percent increase already allocated: 6.3%
6. Sales Force as a Special Group
๏ High initiative needed, customer focus, feedback to
company
๏ Extended periods without supervision, need to stay
motivated regardless
๏ Incentives when willingness to work hard can make
the difference between success and failure
7. Designing Sales Incentive - Compensation
Plans
๏ Alternative sales compensation plans
๏ Salary only
๏ Salary-plus-bonus plans
๏ Salary-plus commission
๏ Commission-plus-draw
๏ Commission-only
๏ Determining fixed pay and the compensation mix
๏ Influence of salesperson on buying decision
๏ Competitive pay standards
๏ Amount of non-sales activities
๏ Noncash incentives
9. Jobs vs Skills or Competencies
๏ Jobs
๏ Clear expectations
๏ Sense of progress
๏ Pay based on value of work
๏ Inflexible
๏ Skills or Competencies
๏ Continuous learning
๏ Flexibility
๏ Lateral movement
9
11. Competency Based Pay
๏ Competency based pay
๏ Where the company pays for the employeeโs range,
depth, and types of skills and knowledge, rather
than for the job title he or she holds
๏ Competencies
๏ Demonstrable characteristics of a person, including
knowledge, skills, and behaviours, that enable
performance
12. Competency Based Pay
๏ Depth of knowledge: Pay for having a deep level
of knowledge within a job, e.g. teachers pay
increases with amount of education: bachelors,
masters, doctorate degree
๏ Breadth of knowledge: Pay for generalist
knowledge
12
13. Skill Based Pay
๏ Pay is tied to skills, abilities & knowledge that an
employee possesses
๏ Manufacturing jobs
๏ Flexibility to reassign people to where work is
needed
14. Skill & Competency Analysis
๏ Skill Analysis: Systematic process to identify skills to
perform work:
๏ What does the employee know
๏ Skills: basic unit of knowledge & expertise
๏ Competency Analysis: Systematic process to identify
competencies required for success
๏ What can the employee do
๏ Competencies: basic units of knowledge & abilities
14
15. Skill or Competency Evaluation
๏ Person centered approach rather than job centered
๏ Determine the skill blocks that are valued: skill or skill
units, rather than jobs
๏ Quantify the value
๏ Develop certification procedures
๏ Mastery of skill units is measured and certified
๏ Pay changes do not necessarily accompany job changes
๏ There is little emphasis on seniority in pay determination
15
16. Designing Pay-for-Knowledge Programs
๏ Establishing skill blocks
๏ Transition matters
๏ Skills assessment;
๏ Aligning pay with knowledge structure;
๏ Access to training
๏ Training and certification
๏ In-house or outsourcing training
๏ Expertise, timeliness;
๏ Size of employee population to be trained;
๏ Sensitivity or proprietary nature
๏ Certification and recertification
18. Steps in Developing Competency
Based Compensation System
1. Developing a Competency model
2. Competency Mapping
3. Linking Competencies to Compensating factors
4. Designing compensation on the basis of actual
competencies
18
19. Developing Competency Model
๏ Competency model identifies various competencies
required for performing a job
๏ Describe competencies in form of indicators
๏ Each competency can be quantified on a scale based
on its relative importance with respect to each job
๏ Serves as a reference for all competency management
activities in organization
19
20. Procedure for Developing Standard Competencies
๏ Analyse job/role to identify competencies required
๏ Job descriptions & job specifications show competency
required for satisfactory performance of duties &
responsibilities
๏ Discuss with Job holders and immediate superiors to
identify critical competencies
๏ Validate the competencies and develop a standard
competency dictionary
๏ Validation can be done by opinion survey or interviewing
experts in related areas
๏ Rate each competency, known as โCritical Ratingโ , on a
scale 1 to 5, based on its relative importance & contribution
to performance 20
21. Competency Mapping and Gap Analysis
๏ Design structured questionnaire for employee and his
immediate superior
๏ Ask employee to rate his/her own competency level in
the questionnaire
๏ Ask immediate superior to rate the competency level
of the employee
๏ Compute weighted average rating to get final score
๏ 70% weight may be given to superiorโs rating & 30% to
employeeโs rating
๏ Analyse Gap in each competency level of the employee
21
24. Compensation Factor
๏ Compensation Factor is the weighted average of
competency ratings of an employee
๏ Compensation factor used
- to design compensation strategies
- to fine tune the policy and adjust for internal and
external equities
24
25. Computing Compensation Factor F
Let us assume
๏ CR = Criticality Rating for each competency
๏ Cp = Summation of Criticality Ratings of all
Competencies = ฮฃCR
๏ ER = Employee Rating
๏ WR = Weighted Rating = CR*ER
๏ Compensation Factor, F = ฮฃ(CR*ER)/Cp
25