This document discusses different types of rewards that can be used for compensation management, including intrinsic rewards like participative decision making and extrinsic rewards such as direct compensation through basic salary and bonuses, indirect compensation like benefits, and non-financial compensation like preferred work assignments. It was prepared by Manu Melwin Joy, an assistant professor at the Ilahia School of Management Studies in Kerala, India, who can be contacted by phone or email for permission to use the slides.
Compensation theory has never been able to provide a completely satisfactory answer to what an individual is worth for performing jobs.
1. The Job
2. The Labor Market,
3. The Organization, and
4. The Employee
These all have an impact on job pricing and the ultimate determination of an individual’s financial Compensation.
Presenting this set of slides with name - Compensation Management 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 three 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 Management Powerpoint Presentation Slides 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.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
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.
Presenting this set of slides with name - Compensation Package Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of thirtynine slides. Our tailor made Compensation Package Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Compensation Package Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field
Compensation theory has never been able to provide a completely satisfactory answer to what an individual is worth for performing jobs.
1. The Job
2. The Labor Market,
3. The Organization, and
4. The Employee
These all have an impact on job pricing and the ultimate determination of an individual’s financial Compensation.
Presenting this set of slides with name - Compensation Management 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 three 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 Management Powerpoint Presentation Slides 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.
Supplementary compensation - compensation management - Manu Melwin Joymanumelwin
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.
Presenting this set of slides with name - Compensation Package Powerpoint Presentation Slides. We bring to you to the point topic specific slides with apt research and understanding. Putting forth our PPT deck comprises of thirtynine slides. Our tailor made Compensation Package Powerpoint Presentation Slides editable presentation deck assists planners to segment and expound the topic with brevity. The advantageous slides on Compensation Package Powerpoint Presentation Slides is braced with multiple charts and graphs, overviews, analysis templates agenda slides etc. to help boost important aspects of your presentation. Highlight all sorts of related usable templates for important considerations. Our deck finds applicability amongst all kinds of professionals, managers, individuals, temporary permanent teams involved in any company organization from any field
Non monetary non-financial incentives - compensation management - Manu Melwin...manumelwin
Money is not the only motivator, the employees who have more of esteem and self actualization need active in them get satisfied with the non-monetary incentives only.
The presentation would help understand the science behind Incentives covering the various aspects of it with giving a brief idea on creating an effective incentives plan
Executive level rewards - compensation management - Manu Melwin Joymanumelwin
Executive compensation or executive pay is composed of the financial compensation and other non-financial awards received by an executive from their firm for their service to the organization.
Drawbacks to pay incentives - compensation management - Manu Melwin Joymanumelwin
Piece rates may result in sloppy work as workers rush to make more money.
Commissioned salespeople often exaggerate claims, or even lie, to make a sale, and oftentimes, the product is not in the best interest of the customer.
Slope of compensation management - compensation management - Manu Melwin Joymanumelwin
Every person has a different definition of compensation depending on the life experiences of that person. To a watchman working in an organization, the word compensation is likely to mean money.
Benefits of job evaluation - compensation management - Manu Melwin Joymanumelwin
It offers a systematic procedure for determining the relative worth of jobs. Jobs are ranked on the basis of rational criteria such as skill, education, experience, responsibilities, hazards, etc., and are priced accordingly.
Role of compensation in organization - compensation management - Manu Melwi...manumelwin
Compensation is fundamental to organization formation and its existence. People work to earn their living and organization compensates employees by providing monetary and non monetary benefits and other amenities for producing goods and services.
Objectives of compensation management - compensation management - Manu Melw...manumelwin
To attract highly capable and efficient employees so that their efforts produces higher organizational performance.
To retain talented employees for continuance of organizational performance and attainment of higher levels of competence.
Often the two topics are not considered as complementary to each other. Compensation and performance management are closer than one thinks, here are a few thoughts to make this clear.
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2. Prepared By
Kindly restrict the use of slides for personal purpose.
Please seek permission to reproduce the same in public forms and presentations.
Manu Melwin Joy
Assistant Professor
Ilahia School of Management Studies
Kerala, India.
Phone – 9744551114
Mail – manu_melwinjoy@yahoo.com
3. Different kinds of rewards
• Intrinsic rewards
• Extrinsic rewards.
– Direct compensation.
– Indirect compensation.
– Non financial Compensation.
4. Intrinsic rewards
• Participative decision making.
• More responsibility.
• Opportunities for personal
growth.
• Greater job freedom and
discretion.
• Diversity of activities.
5. Extrinsic rewards – Direct Compensation
• Basic Salary or Wage.
• Overtime and holiday
premiums.
• Performance bonus.
• Profit sharing.
• Stock options.
6. Extrinsic rewards – Indirect Compensation
• Protection programmes.
• Payment for time not
worked.
• Services and perquisites.
7. Extrinsic rewards – Non financial Compensation
• Preferred office furnishings.
• Assigned parking spaces.
• Impressive designation.
• Preferred lunch hours.
• Preferred work assignments.
• Own secretary.