An internship report on employee welfare practices in mclKool Subh
This document discusses the research methodology used for a study on employee welfare practices at MCL. It involved collecting primary data through questionnaires from 100 MCL employees. The objectives of the research were to gain insights into current welfare practices and employee satisfaction. Secondary data was also collected from company documents and reports. 20 questions from the questionnaire were analyzed using charts and diagrams to interpret the findings. The motivation for the study was to evaluate welfare policies and identify areas for improvement.
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.
This document provides an overview of compensation management. It discusses that compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits. An effective compensation system is designed based on factors like job analysis and market surveys. It is an important part of human resource management that helps motivate employees and improve organizational performance. The various components, types, and importance of compensation management are outlined.
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.
Webinar Series in Designing a Compensation Structure - deals about the classification of salary components, compensation structure, governance or compliance and sample salary structure.
This document is a project report submitted for a Bachelor of Commerce degree. It examines employee satisfaction at Ebenezer Printpack (P) Ltd in Thrissur, Kerala. The report includes an introduction discussing the importance of human resources and employee satisfaction to organizational success. It also outlines the objectives, research methodology, and limitations of the study. The report contains literature review, data analysis and interpretation, findings, suggestions, and a conclusion regarding levels of satisfaction among employees at Ebenezer Printpack. Tables and figures present survey results on various factors influencing job satisfaction.
An internship report on employee welfare practices in mclKool Subh
This document discusses the research methodology used for a study on employee welfare practices at MCL. It involved collecting primary data through questionnaires from 100 MCL employees. The objectives of the research were to gain insights into current welfare practices and employee satisfaction. Secondary data was also collected from company documents and reports. 20 questions from the questionnaire were analyzed using charts and diagrams to interpret the findings. The motivation for the study was to evaluate welfare policies and identify areas for improvement.
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.
This document provides an overview of compensation management. It discusses that compensation includes both direct monetary benefits like salary as well as indirect non-monetary benefits. An effective compensation system is designed based on factors like job analysis and market surveys. It is an important part of human resource management that helps motivate employees and improve organizational performance. The various components, types, and importance of compensation management are outlined.
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.
Webinar Series in Designing a Compensation Structure - deals about the classification of salary components, compensation structure, governance or compliance and sample salary structure.
This document is a project report submitted for a Bachelor of Commerce degree. It examines employee satisfaction at Ebenezer Printpack (P) Ltd in Thrissur, Kerala. The report includes an introduction discussing the importance of human resources and employee satisfaction to organizational success. It also outlines the objectives, research methodology, and limitations of the study. The report contains literature review, data analysis and interpretation, findings, suggestions, and a conclusion regarding levels of satisfaction among employees at Ebenezer Printpack. Tables and figures present survey results on various factors influencing job satisfaction.
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)
This document summarizes the components and structure of a typical salary package. It includes fixed payments like basic salary and allowances for housing, transport, education and other expenses. It also includes variable payments like bonuses and incentives, as well as non-monetary benefits like company cars and stock options. Retirement benefits like provident fund contributions and insurance are also covered. The objectives of compensation planning and governance/compliance considerations are outlined. Specific examples of the breakdown of various salary components are provided.
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.
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
Compensation refers to the total monetary and non-monetary pay provided to employees in exchange for their work. It includes elements like salary, bonuses, benefits, and commissions. The objectives of compensation planning are to attract, retain, and motivate top talent while ensuring equity and controlling costs. Compensation systems aim to recruit and keep qualified employees, improve morale, reward performance, achieve internal and external fairness, reduce turnover, and modify union practices. Key components of compensation include job descriptions, analysis and evaluation, pay structures, surveys, and employment laws.
The document reviews several studies on welfare measures provided by companies in India. It summarizes the findings of studies by KIRABAKARAN (1983) on welfare facilities at Dunlop India Ltd, and by S.KUMAR (1993) on welfare measures at AFT Ltd. It also discusses analyses by JOHRI C.K AND SHARMA D.I (1968) and R.NAJEED (1996) on aspects of labor welfare. Further studies addressed in the review include ones by K.Srikanth (2004) on occupational health and employee well-being, and S.K.SRIVASTRA (2004) on the impact of welfare on employee attitudes and job satisfaction.
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.
MBA Project report at "Employee Satisfaction"Alok Singh
This document provides information about Zee Laboratories Ltd., an Indian pharmaceutical company. It discusses the company's history, facilities, product portfolio, marketing presence in India and abroad, objectives, and institutional customers. The company was established in 1994 and has since expanded to include multiple manufacturing units across India. It produces a wide range of pharmaceutical formulations and exports its products to over 25 countries. The company aims to be a leader in the pharmaceutical industry through excellence and global expansion.
Project report on compensation and benefitssukesh gowda
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.
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.
The document discusses traditional and modern pay systems, as well as the process for establishing pay plans.
1. Traditional pay systems are based on cost of living, seniority, and evenly distributed wages. Modern pay systems emphasize variable pay based on business, individual, team and organizational performance.
2. Establishing effective pay plans involves analyzing factors like the job market, designing compensation to attract and retain talent, and linking pay to performance to optimize costs.
3. Regular evaluation and review of pay plans is needed to ensure plans stay aligned with business strategy and changing internal and external conditions.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
Impact of welfare facilities on employee satisfaction @ forbes project reportBabasab Patil
The document discusses Forbes Campbell Knitwear (FCK), an export-oriented textile company located in Belgaum, Karnataka. It provides an overview of FCK's establishment, operations, products, clients, and policies/processes related to orders, planning, and welfare facilities for employees. Key details include FCK's focus on domestic expansion, welfare facilities as mandated by law and additional non-statutory benefits, and a project to study the impact of welfare facilities on employee satisfaction levels at FCK.
This document discusses different types of reward systems used by organizations. It defines a reward system as any process that encourages, reinforces or compensates employees. The main types of rewards discussed are time rates, payment by results, individual/group performance pay, skill-competency based pay, and cafeteria/flexible benefit systems. For each type, the advantages and disadvantages are outlined. The overall purpose of a reward system is to attract, motivate and retain employees.
Fringe Benefits ppt by Mr. K.V.Samapth PavanSampath Pavan
This document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees during and after employment that are connected to employment but not directly related to their job contributions. Examples include use of a company car for personal use, cheap loans, free health insurance, and cleaning services. The objectives of fringe benefits are to improve employee morale, motivate performance, provide security, and retain employees. Types of fringe benefits include paid time off, health benefits, retirement benefits, and welfare facilities.
This document provides an overview of HR practices in banking and insurance sectors in India. It discusses HR practices at Bank of Baroda, a major public sector bank, and HDFC Standard Life Insurance, a private life insurance company. Some key HR practices discussed include recruitment, training, performance appraisal, and employee engagement initiatives. The conclusion compares the HR approaches between the two organizations and provides some suggestions.
This document discusses compensation management and wage determination. It covers topics such as objectives of compensation, types of compensation (base compensation like wages and salaries vs. supplementary compensation like benefits), factors that influence wages, and methods of wage fixation. The key methods of wage fixation discussed are collective bargaining, wage boards, job evaluation, pay commissions, and arbitration/adjudication.
The summary analyzes a document discussing compensation and benefits in the banking sector:
1. The document examines which motivates employees more - compensation or benefits - through a survey of employees at several banks. It found that opinions varied between banks, with most employees at some banks feeling compensation motivated more while most at others felt benefits motivated more.
2. The document outlines the objectives, scope, and limitations of the study. It provides background on compensation and benefits in the banking industry and defines key terms. Literature review discusses prior research finding benefits more strongly motivate retention and productivity.
3. Primary data was collected through surveys distributed to employees, while secondary data came from articles and reports. The analysis found satisfaction levels with compensation
This document discusses compensation and benefits programs. It begins by introducing the importance of having attractive compensation and benefits to motivate employees and reduce turnover. It then defines key terms like compensation, benefits, and compensation management. It outlines the goals of compensation management programs and different compensation theories. The document also discusses factors that affect salary ranges, the importance of developing a compensation administration program (CAP), and the steps to develop a CAP. Finally, it discusses some common issues in compensation management.
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)
This document summarizes the components and structure of a typical salary package. It includes fixed payments like basic salary and allowances for housing, transport, education and other expenses. It also includes variable payments like bonuses and incentives, as well as non-monetary benefits like company cars and stock options. Retirement benefits like provident fund contributions and insurance are also covered. The objectives of compensation planning and governance/compliance considerations are outlined. Specific examples of the breakdown of various salary components are provided.
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.
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
Compensation refers to the total monetary and non-monetary pay provided to employees in exchange for their work. It includes elements like salary, bonuses, benefits, and commissions. The objectives of compensation planning are to attract, retain, and motivate top talent while ensuring equity and controlling costs. Compensation systems aim to recruit and keep qualified employees, improve morale, reward performance, achieve internal and external fairness, reduce turnover, and modify union practices. Key components of compensation include job descriptions, analysis and evaluation, pay structures, surveys, and employment laws.
The document reviews several studies on welfare measures provided by companies in India. It summarizes the findings of studies by KIRABAKARAN (1983) on welfare facilities at Dunlop India Ltd, and by S.KUMAR (1993) on welfare measures at AFT Ltd. It also discusses analyses by JOHRI C.K AND SHARMA D.I (1968) and R.NAJEED (1996) on aspects of labor welfare. Further studies addressed in the review include ones by K.Srikanth (2004) on occupational health and employee well-being, and S.K.SRIVASTRA (2004) on the impact of welfare on employee attitudes and job satisfaction.
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.
MBA Project report at "Employee Satisfaction"Alok Singh
This document provides information about Zee Laboratories Ltd., an Indian pharmaceutical company. It discusses the company's history, facilities, product portfolio, marketing presence in India and abroad, objectives, and institutional customers. The company was established in 1994 and has since expanded to include multiple manufacturing units across India. It produces a wide range of pharmaceutical formulations and exports its products to over 25 countries. The company aims to be a leader in the pharmaceutical industry through excellence and global expansion.
Project report on compensation and benefitssukesh gowda
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.
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.
The document discusses traditional and modern pay systems, as well as the process for establishing pay plans.
1. Traditional pay systems are based on cost of living, seniority, and evenly distributed wages. Modern pay systems emphasize variable pay based on business, individual, team and organizational performance.
2. Establishing effective pay plans involves analyzing factors like the job market, designing compensation to attract and retain talent, and linking pay to performance to optimize costs.
3. Regular evaluation and review of pay plans is needed to ensure plans stay aligned with business strategy and changing internal and external conditions.
Compensation plays a key role in organizations by attracting capable employees, motivating superior performance, and retaining employees over an extended period of time. It helps create a strong human resource base that enhances productivity, efficiency, and quality. A suitable compensation plan is critical for achieving the right human resource infrastructure with skilled employees in the right jobs. Compensation also plays an important role in retaining top talent, motivating employees to maintain high standards, and boosting morale to achieve goals.
Impact of welfare facilities on employee satisfaction @ forbes project reportBabasab Patil
The document discusses Forbes Campbell Knitwear (FCK), an export-oriented textile company located in Belgaum, Karnataka. It provides an overview of FCK's establishment, operations, products, clients, and policies/processes related to orders, planning, and welfare facilities for employees. Key details include FCK's focus on domestic expansion, welfare facilities as mandated by law and additional non-statutory benefits, and a project to study the impact of welfare facilities on employee satisfaction levels at FCK.
This document discusses different types of reward systems used by organizations. It defines a reward system as any process that encourages, reinforces or compensates employees. The main types of rewards discussed are time rates, payment by results, individual/group performance pay, skill-competency based pay, and cafeteria/flexible benefit systems. For each type, the advantages and disadvantages are outlined. The overall purpose of a reward system is to attract, motivate and retain employees.
Fringe Benefits ppt by Mr. K.V.Samapth PavanSampath Pavan
This document discusses fringe benefits provided to employees. It defines fringe benefits as monetary and non-monetary benefits given to employees during and after employment that are connected to employment but not directly related to their job contributions. Examples include use of a company car for personal use, cheap loans, free health insurance, and cleaning services. The objectives of fringe benefits are to improve employee morale, motivate performance, provide security, and retain employees. Types of fringe benefits include paid time off, health benefits, retirement benefits, and welfare facilities.
This document provides an overview of HR practices in banking and insurance sectors in India. It discusses HR practices at Bank of Baroda, a major public sector bank, and HDFC Standard Life Insurance, a private life insurance company. Some key HR practices discussed include recruitment, training, performance appraisal, and employee engagement initiatives. The conclusion compares the HR approaches between the two organizations and provides some suggestions.
This document discusses compensation management and wage determination. It covers topics such as objectives of compensation, types of compensation (base compensation like wages and salaries vs. supplementary compensation like benefits), factors that influence wages, and methods of wage fixation. The key methods of wage fixation discussed are collective bargaining, wage boards, job evaluation, pay commissions, and arbitration/adjudication.
The summary analyzes a document discussing compensation and benefits in the banking sector:
1. The document examines which motivates employees more - compensation or benefits - through a survey of employees at several banks. It found that opinions varied between banks, with most employees at some banks feeling compensation motivated more while most at others felt benefits motivated more.
2. The document outlines the objectives, scope, and limitations of the study. It provides background on compensation and benefits in the banking industry and defines key terms. Literature review discusses prior research finding benefits more strongly motivate retention and productivity.
3. Primary data was collected through surveys distributed to employees, while secondary data came from articles and reports. The analysis found satisfaction levels with compensation
This document discusses compensation and benefits programs. It begins by introducing the importance of having attractive compensation and benefits to motivate employees and reduce turnover. It then defines key terms like compensation, benefits, and compensation management. It outlines the goals of compensation management programs and different compensation theories. The document also discusses factors that affect salary ranges, the importance of developing a compensation administration program (CAP), and the steps to develop a CAP. Finally, it discusses some common issues in compensation management.
This document discusses how rewards can be used as a motivational tool to improve employee performance. It defines rewards as tools that can attract, motivate and retain talented employees. There are intrinsic rewards like having meaningful work, and extrinsic rewards like compensation and benefits. When rewards are aligned with business and individual goals, they can enhance employment relationships, attract top talent, and increase flexibility and motivation. Overall, rewarding high performance leads to happier and more productive employees, higher trust in management, and better business outcomes like increased revenue and profits.
This document provides an overview of compensation and rewards in organizations. It defines compensation as a systematic approach to providing monetary value to employees in exchange for work performed. Compensation serves several purposes like assisting in recruitment, job performance, and job satisfaction. Compensation management involves establishing an equitable wage and salary structure. The key objectives of compensation management are to establish and maintain an equitable compensation structure and labor cost structure to maximize employee and employer satisfaction.
This document discusses employee performance and incentives. It begins with an introduction that defines performance as actions or behaviors relevant to organizational objectives. It notes that employees must be motivated to perform at their best. The purpose is to learn about improving employee performance through monetary incentives. Key questions are asked about what incentives are, why improving them is important, and how to do so. It is explained that incentives attract, retain, and motivate talent. Improving incentives keeps employees motivated and productive. Ways to do so include easy-to-understand plans aligned with company goals and attractive benefits. Research found various incentive types like salary, bonuses, commissions, and merit pay. Conclusions are that incentives positively impact performance by satisfying employees and creating a better
The document discusses the nature, importance, and objectives of compensation and performance management (CAPM). It defines CAPM as establishing an equitable reward system to satisfy employee needs and motivate performance. The importance of CAPM includes properly compensating employees, motivating better performance, reducing turnover, and maintaining labor peace. The primary objectives are to attract qualified applicants, retain current employees through competitive pay, and ensure pay equity and fairness. Secondary objectives include paying employees based on abilities, motivating productivity, providing security, being flexible and clear, and following legal norms.
This document is a dissertation submitted by a student to Amity University in partial fulfillment of a Bachelor of Commerce degree. It examines employee motivation practices at Big Bazaar department stores in India. The dissertation includes chapters on introduction/background on Big Bazaar and its HR department, literature review on motivation theories, research methodology used, results and discussion of findings. Key findings include that employees are motivated by salary increments, performance appraisals, training programs, and both financial and non-financial incentives. The dissertation aims to understand employee responses to the motivation factors provided by Big Bazaar and their level of satisfaction.
Compensation management involves balancing the relationship between work and employees by providing both monetary and non-monetary benefits. It is a systematic approach that uses compensation to achieve goals like recruitment, performance, and satisfaction. Compensation includes direct pay and indirect perks and is a key part of human resource management that motivates employees and improves organizational effectiveness. It is tailored according to economic conditions, business needs, and available resources.
This document is a research proposal on the compensation systems of banks in Pakistan submitted by three students - Muhammad Farhan Jalali, Saba Shahab, and Sheikh Zeeshan Waris - to their professor Ms. Ayesha Hanif. The introduction provides background on the importance of compensation policies and practices in motivating employees. It also outlines the banks' restructuring plans and why investigating compensation practices is important. The literature review then summarizes past research on topics like defining compensation, designing effective compensation systems, factors that impact compensation, and relating compensation to managing risks.
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.
The document discusses compensation management at Packages Private Limited. It outlines Packages' compensation system which includes establishing pay rates based on factors like market rates and job evaluations. The compensation package consists of base pay, incentives, and benefits. Packages aims to attract and retain talent through an equitable compensation system tied to performance and contributions.
This document summarizes the key aspects of an employee training report on the effect of employee welfare. It defines employee welfare as services, benefits, and facilities provided by employers to improve employee comfort and standards of living. Statutory welfare schemes required by law include health and safety provisions, while non-statutory schemes vary by organization. Employee welfare is meant to create a healthy, productive, and satisfied workforce by raising living standards and workplace morale. It can increase productivity and engagement while reducing issues like substance abuse.
Discussion post AssignmentPlease review lecture notes to ass.docxduketjoy27252
Discussion post Assignment
Please review lecture notes to assist with questions
Week 2 Lecture
In Week 2, this course will discuss the uses of incentive pay plans including the pros and cons of the various employee pay plans. This week will also discuss the relationship between performance management and compensation.
Employee incentive compensation programs grew from the philosophy that employees will be driven by rewards. As a result, organizations use incentive compensation programs to produce their targeted results. Organizations reward employees who produce. Organizations need to improve or keep employee motivation and the key is finding out what employees want and value as incentives. There are a variety of incentive pay plans. A few such plans are discretionary bonus plans, annual pay increase plan, profit sharing, retention bonusses and project-based bonus. A common compensation plan is based on the employee’s seniority and hence called “seniority pay.” An employee under this plan receives compensation due to the length of time he/she has been with the organization or tenure with the organization. Many times, this type of plan is found in unionized workforces, however it can be found in many different types of organizations as well. The one issue with this type of plan is the increase in compensation may not be appropriate, especially if the employee is not performing and as a result, it may have a negative impact on the organization. The employee may have an expectation of an increase regardless of performance or organizational productivity. If the organization doesn’t produce, the employee will expect an increase regardless. Another incentive plan is the “merit plan” where employees are paid based on past performance usually during a specific period. The merit plan pays employees for meeting standards or performance goals and can be utilized in conjunction with annual performance evaluations. For this type of pay plan to work, the organization needs to set goals that are obtainable and realistic. Some organizations utilize SMART goals. SMART goals are goals that are set that are specific, measurable, attainable, relevant and time framed. Additionally, employees need to be made aware of the terms of the merit pay plan so they know how and when to reach their goals. Goals should be aligned with the organizational mission, vision and guiding principles. Merit pay programs are not appropriate for all companies and for the plan to be successful, top management must agree to reward the top performers with meaningful pay differentials that match the levels of the employee performance (Martocchio, 2017). Another incentive plan is the “person-centered pay” which is a plan that rewards employees for acquiring job related knowledge, skills or competencies (Martocchio, 2017). The person-centered play plan is not based on job performance. This plan is a means of rewarding employees for their actions acquiring skills. Furthermore, person-ce.
This document is a student project on the topic of employee retention. It includes a title page with the student's name and college information. It then has sections on the importance of employee retention, key factors in retention like compensation, growth opportunities, support, and relationships. It discusses retention strategies, myths, benefits of attrition, and success mantras. Later sections cover employee turnover, engagement, empowerment, and how to manage retention specifically for different industries and situations.
types of financial rewards in modern organization.pptxsugarbloom
Financial rewards are monetary incentives that employees earn for good performance to help achieve company goals. There are different types of financial rewards such as bonuses for sales targets. Financial rewards motivate employees and encourage better performance which increases employee satisfaction. Companies use financial rewards to recognize individual contributions and keep employees motivated to learn new skills that benefit the organization.
The document discusses performance-linked reward systems. It outlines the objectives of reward management as attraction, retention, motivation, positive culture, skills improvement, and structure reinforcement. When designing rewards, organizations should consider what behaviors to reinforce like performance, effort, teamwork, or loyalty. Rewards should consider both individuals and teams to promote collaboration. Key issues in designing rewards include determining who to reward, what aspects of work to reward, and what type of rewards to provide. Performance-based rewards, competence-based rewards, and skill-based rewards are discussed. Financial, non-financial, and psychological rewards are components of performance-linked systems. Intrinsic and extrinsic rewards are also compared.
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.
Similar to Employment satisfaction towards monetary and non monetary benefits (19)
This document provides an analysis of Patanjali's marketing strategies. It discusses how Patanjali promotes itself through digital marketing and content marketing. Key strategies discussed include having a single brand strategy rather than multiple brands, going against conventional branding theories, and following the model of modern technology companies in using a generic sub-brand attached to the main brand. The analysis concludes that having fewer brands, ideally just one main brand, makes distribution and customer recognition easier while significantly reducing advertising costs.
This document provides an overview of cryptocurrencies and bitcoin. It discusses how bitcoin works as a decentralized digital currency without a central authority by using blockchain technology. Miners work to verify transactions and add them to blocks in the blockchain through proof-of-work. This rewards miners with newly created bitcoins and solves issues like double spending. The document also reviews literature on attacks on bitcoin's network, privacy-enhancing techniques like confidential transactions, and the proposed lightning network for faster transactions. It outlines a research methodology using secondary data sources and discusses results on the history and uses of bitcoin.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
हिंदी वर्णमाला पीपीटी, hindi alphabet PPT presentation, hindi varnamala PPT, Hindi Varnamala pdf, हिंदी स्वर, हिंदी व्यंजन, sikhiye hindi varnmala, dr. mulla adam ali, hindi language and literature, hindi alphabet with drawing, hindi alphabet pdf, hindi varnamala for childrens, hindi language, hindi varnamala practice for kids, https://www.drmullaadamali.com
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
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ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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This document provides an overview of wound healing, its functions, stages, mechanisms, factors affecting it, and complications.
A wound is a break in the integrity of the skin or tissues, which may be associated with disruption of the structure and function.
Healing is the body’s response to injury in an attempt to restore normal structure and functions.
Healing can occur in two ways: Regeneration and Repair
There are 4 phases of wound healing: hemostasis, inflammation, proliferation, and remodeling. This document also describes the mechanism of wound healing. Factors that affect healing include infection, uncontrolled diabetes, poor nutrition, age, anemia, the presence of foreign bodies, etc.
Complications of wound healing like infection, hyperpigmentation of scar, contractures, and keloid formation.
Employment satisfaction towards monetary and non monetary benefits
1. A Dissertation on
TO STUDY ABOUT EMPLOYEE'S SATISFACTION TOWARDS
MONETARY AND NON MONETARY BENEFITS (WITH
REFERENCE TO BIG BAZAAR)
Submitted to
Amity University Madhya Pradesh
In partial fulfilment of the requirements for the award of the degree of
BACHELOR IN COMMERCE (H)
In
Finance & HR
By
ZZZZZZZZZZZZZZZ
Under the guidance of
Ms. Mansi Tiwari
(ASSISTANT PROFESSOR)
AMITY BUSINESS SCHOOL
AMITY UNIVERSITY MADHYA PRADESH
May-june 2018
2. Amity Business School
DECLARATION
I, ZZZZZZZZZZZZZZ student of B.Com (H) hereby declare that the Dissertation titled “TO STUDY
ABOUT EMPLOYEE'S SATISFACTION TOWARDS MONETARY AND NON MONETARY
BENEFITS (WITH REFERENCE TO BIG BAZAAR)"which is submitted by me to Amity
Business School, Amity University Madhya Pradesh, in partial fulfilment of requirement for the
award of the degree of Bachelor of Commerce (H) has not been previously formed the basis for
the award of any degree, diploma or other similar title or recognition.
Gwalior(MadhyaPradesh) Name and signature of Student
Date
3. Amity Business School
CERTIFICATE
It is to certify that the Dissertation titled “TO STUDY ABOUT EMPLOYEE'S SATISFACTION
TOWARDS MONETARY AND NON MONETARY BENEFITS (WITH REFERENCE TO
BIG BAZAAR)”which is submitted to Amity Business School, Amity University Madhya Pradesh, in
partial fulfilment of the requirement for the award of the degree of Bachelor of Commerce (H) is an
original contribution with existing knowledge and faithful record of work carried out by her under my
guidance andsupervision.
To the best of my knowledge this work has not been submitted in part or full for any Degree or Diploma
to thisUniversityorelsewhere.
Madhya Pradesh Signature of Supervisor
Date Name & Designation
HOI/HOD
Amity Business School
AmityUniversityMadhyaPradesh,Gwalior
iv
4. ACKNOWLEDGEMENT
Firstly, I would like to express my sincere gratitude to my guide Ms. Mansi Tiwari for the continuous
support for my research paper and for his patience, motivation and immense knowledge. His guidance
helped me at all times during the research and writing of this term paper. I could not have imagined
havinga betteradvisorandmentorformy researchstudy.
I thank my fellow classmates for the stimulating discussions, endless debates and on many editorial
worksand forall the funwe had inthe lastfew weeks.
Finally, I sincerely thank my parents who provided me with their expertise knowledge and advice. The
resultof thisresearchpaperwouldnothave beenpossiblewithoutall of them.
ZZZZZZZZZZZZZZZZ
B.COM(H)
5. Abstract
“Organizations are concerned in retaining right talents while targeting for new
talents; measuring employees satisfaction provides an indication of how successful
the organization is in fostering a conducive environment which nurtures great
attitude among employee’s towards their Job and company”
“This research explores the concept of employee satisfaction and how this can be
strengthened by offering monetary and non monetary benefits to employees. The
main objective of the research is to find out what role and up to what extend
monetary and non-monetary rewards are providing satisfaction to employees.”
“The data for this research is collected from the employees of Big-Bazaar Gwalior.
Questionnaire was prepared and filled by 60 employees of Big-Bazaar. The result
shows the fact that monetary and non-monetary rewards can increase the level of
employee satisfaction and high level of satisfaction is necessary for high firm
performance.”
6. CONTENTS
Front Page i
Candidate’s Declaration ii
Certificate iii
Acknowledgements iv
Abstract v
Content vi
List of Figures vii
List of Tables viii
List of Abbreviations ix
CHAPTER-I: INTRODUCTION
1.1 Employee Satisfaction
1.2 Compensation
CHAPTER-II: LITERATURE REVIEW
CHAPTER-III: RESEARCH METHODOLOGY
CHAPTER-IV: RESULTS AND DISCUSSION
CHAPTER-V: CONCLUSION AND FUTURE PROSPECTS
REFERENCES
APPENDIX
PLAGIARISM REPORT
7. CHAPTER 1
INTRODUCTION
Employees are one of the key components of the organization achievement. No organization
can prevail without a specific level of duty and exertion from its workers. Organizations
frequently endeavor to satisfy their employees to pick up their dedication and reliability.
However, it is difficult for the company to be fruitful in making individual satisfied in light of
the fact that individuals work for a wide range of reasons, a few need material achievement
while others may emphasis challenging job.
From an Individual point of view, work fulfillment may be a standout amongst the most alluring
results that representatives could acquire. The worker fulfillment is the introduction of the
business towards his work part, which he is directly playing. The organization will just flourish
And survive more when its representatives are satisfied. This makes individual says totally that
he is completely happy with the activity. This examination directed so the workers give their
full, legitimate and honest assessment by staying unknown about how they feel about their
employments. Compensation is a critical determinant of representatives' fulfillment. A decent
pay bundle is essential for the employees to work in a proper way and achieve organizational
objective. Unless remuneration is given nobody will give commitment towards the organization
Consequently, remuneration helps in running an organization successfully and achieving its
objectives. “The remuneration bundle ought to be according to industry norms.” Pay is only a
piece of the remuneration framework, the workers have other mental and self-realization needs
to satisfy
8. 1.1 Employee satisfaction
Employee satisfaction or job satisfaction is, quite simply, how content or satisfied employees
are with their jobs. Employee satisfaction is typically measured using an employee satisfaction
survey. These surveys address topics such as compensation, workload, perceptions of
management, flexibility, teamwork, resources, etc. These things are all important to companies
who want to keep their employees happy and reduce turnover, but employee satisfaction is only
a part of the overall solution. In fact, for some organizations, satisfied employees are people the
organization might be better off without. Employee satisfaction and employee engagement are
similar concepts on the surface, and many people use these terms interchangeably. Employee
satisfaction covers the basic concerns and needs of employees..”
1.2 COMPENSATION
The sum of all form of payments or rewards provided to employees for providing
services to the organization in order to achieve the goal.
Compensation is the process of providing adequate, equitable and fair remuneration to
the employees.
It is the comprehensive term which includes pay, incentives and benefits offered to the
employees.
Compensation is a systematic approach to providing monetary value to employees in
exchange for work performed.
In simple words-“compensation refers to a method of maintaining balance between
interest of company and attracting, developing, retaining and rewarding high quality
staff through wages and salaries.”
9.
10. MONETARYCOMPENSATION
Monetary compensation refers to monetary benefits that an employee receive in exchange of a
service offered to the organization.
Monetary benefits include- Basic salary, incentives, Bonus, house rent allowance, travel
allowance, yearly increments.etc.
Monetary factors are extrinsic to work, such as the following:
SALARY”
It is the consistent payment which is made to an employee in specific intervals which may be
weekly, monthly.
FINANCIAL INCENTIVES”
This is linked to individual, group or organizational performance and not to time worked.
BONUS”
It is the extra payment which is paid to employees over and above their salary which is paid
during festive season to motivate them to perform better.
HOUSE RENT ALLOWANCE”
Organizations either provide accommodation to its employees or house rent allowance to provide
them social security.
CONVEYENCE ALLOWANCE”
Organizations also provide cab facilities to their employees or vehicle or petrol allowances.
PROMOTION(MONETORYPART)”
Promotion is attached with increase in pay, and this motivates the employee to perform better.
“PROFIT SHARING”
This is an arrangement by which organizations distribute compensation based on some established
formula designed around the company’s profitability.”
11. STOCKOPTION”
This is a system by which the employee receives shares on a preferential basis which results in
financial benefits to the employees.
RETIREMENT BENEFITS”
These includes payment at the time of retirement such as gratuity, provident fund, pension plans,
and leave encashment these benefits includes assuarance to employees during service for the
future.”
12. NON-MONETARYCOMPENSATION
This is not paid as direct money to employees, that is it does not involve payment in cash to
employees. Instead it involves satisfaction to employees by the way of – status, appreciation,
delegation, job security, etc.”
Non-monetary factors are rewards intrinsic to work, such as the following:
STATUS”
An employee is motivated by better status and designation. Organizations should offer job titles
that convey the importance of the position.
APPRECIATION AND RECOGNITION”
Employees must be appreciated and reasonably compensated for all their achievements and
contributions.
WORK LIFE BALANCE”
Employees should be in a position to balance the two important segments of their life—work and
life. This balance makes them ensure the quality of work and life. A balanced employee is a
motivated employee.
DELEGATION”
Delegation of authority promotes dedication and commitment among employees. Employees are
satisfied that their employer has faith in them and this motivates them to perform better.
WORKING CONDITIONS”
Healthy working conditions such as proper ventilation, proper lighting and proper sanitation
improve the work performance of employees.
13. JOB ENRICHMENT”
This provides employees more challenging tasks and responsibilities. The job of the employee
becomes more meaningful and satisfying.
JOB SECURITY”
This promotes employee involvement and better performance. An employee should not be kept
on a temporary basis for a long period.
JOB ROTATION”
Job rotation means shifting the employee from one task to another to avoid monotony, this will
help in motivating employee to perform better and make him versatile.
14. Difference between Monetary and Non Monetary Rewards”
Basis
Monetary rewards Non- Monetary
Rewards
Purpose A monetary incentive is generally
awarded for a job well done and is
often something that the employee
can strive for.
The purpose of a non-monetary
incentive is to generally reward the
employee after the fact of doing a
good job.
Effectiveness Monetary incentives tend to be more
effective when the employee is
actually motivated by cold, hard cash
or additional forms of payment that
increase his total compensation.
Non-monetary incentives can be just
as effective in motivating employee
behavior.
What it includes Bonus, profit-sharing, salary, wages. Job security, status, promotion,
recognition.
15. About company
Big-Bazaar is an Indian retail store that operates as a chain of supermarkets, discount department
stores, and grocery stores. The retail chain was founded by Kishore Biyani. It was founded in
2001.
Big-Bazaar is not just a hypermarket but a destination which caters every need of the family such
as- grocery store, clothes department, packed food items, cosmetics, etc “
There are two big-bazaar stores in Gwalior.
1. Dindayal city mall, Mlb road, Gwalior, 474004
2. DB city mall, opposite railway station , Gwalior.
COMPENSATION POLICYFOLLOWED AT BIG-BAZAAR
Salary
The employees are rewarded with attractive pay packages.
The salary to employees include basic pay, House rent allowance, Provident fund.
Annual bonus is given at the time of Diwali
Along with this employees are given employees discount card (EDC) by which they
can buy any product at a discount of 20-30%
Leaves and other rules
An employee during his probationary period is entitled for 7 days of leave
A confirmed employee is entitled to 30 days of leave during a year.
APL is the only leave that is given to the employees. APL is “ all purpose leave”
All the employees are provided identity card which they have to wear and swipe at the
time of entering and leaving the store.
16. Performance appraisal
The HR department conducts performance appraisal of all the employees annually in
the month of april.
Increments are given based on their performance.
In addition to this if an employee exceeds the target then they are also provided with
extra cash benefits and incentives.
Monetary factors which impact employee satisfaction are:-
Competitive salary
Incentives
Bonus
Yearly increments
Profit sharing
Non monetary factors which impact employee satisfaction are:-
Appreciation and recognition
Job security
Working conditions
Leave policy ( like sick leave, holidays, etc)
Leadership and mentoring
17. CHAPTER 2
LITERATURE REVIEW
The performance of any organization and its continuity depends on their key assets, employees,
as well as the capabilities of the managers to be able to create a motivating environment for their
people. On the other hand, it is a challenge for the managers to keep their people and employees
motivated and satisfied. Thus why every manager has to be aware about the needs and
requirements their employee and what they are looking for.
The main objective and concern of most of the organizations is to make the benefit from people
who are feeling positively toward the work and motivate unsatisfied employees in order to end up
with a win–win situation for both the company and workers.
Firm’s needs to motivate their people and keep them motivated in order to obtain the productivity
gains and to insure their competitiveness. Sometimes people who are given responsibilities feel
motivated and do their best and work hard accordingly (Ludivine, 2011). Moreover, researchers
have stressed that satisfied and encouraged employees are crucial to the organization
effectiveness (Rachel, Yee, Yeung, Edwin, 2010). Motivated employees can impact a
company’s bottom line and make the workplace somewhere employees look forward to interact
with instead of just a place to “pick up a paycheck” (Nandanwar , Surnis, Nandanwar 2010).
Michael and Crispen (2009) stated that having a motivated workforce provides the competitive
advantage that the organization seeks and better employee performance helps the organization
achieve higher productivity.
Mansoor (2008) also sees that motivation is about creating the environment where employees
will be motivated and hence work with their full effort. Organizations should motivate their
employees to enhance competitive advantages and reach the firms vision and mission (Philip,
Yu-Fang, Liang-Chih, 2007).
18. According to Jonathan, Christine and Yvonne (2002), motivated people and their commitment
are vital to the productivity of the work as they will perform with their full potential and with
high quality. Jonathan, Christine and Yvonne (2002), identified that greater motivation will
have a direct effect in improving productivity through greater effort and possibly innovation.
They also stated that motivation leads to a productive with high performance employee who does
the best at work, saves time and effort and also volunteers to do more than what is required. Such
employee will be a great resource to the business and a great model to be followed by others.
They also sees that people, who were motivated by sending them to foreign countries in order to
live and work, are seen as valuable resource as they give more than usual when they return.
Although some experts argue that companies who spend money on motivating their employees is
waste of money but most of them agreed that the wasted money is achieved in a very short time
by the motivated employees (Khodov, 2003). Business and company’s succession depends on
motivated employee; they can make all the difference in the company’s ability not to just survive
but also to succeed (Hislop, 2003). In addition, performers and experienced employees are
actually who produce the results of the business and they are the backbone of any company and
the reason of the business growth and gain (Meyer, Becker, Vandenberghe, 2004).
Urichuck (2002) stated that motivated employee will increase the capability of the organization
to achieve its mission, goals and objectives. It will also engage all to build a strong organizational
culture. Furthermore, A well-motivated organization for sure will have more motivated
employees and hence they will be more productive and this will lead to extreme cost savings
(Urichuck, 2002). In addition, satisfied employees positively impact corporate culture, resulting
in many intangible but equally important returns (Yongsun, Barbara, Christy, 2002).
“If employees are motivated and happy they will do to the work to the best of their ability instead
of just doing it because they have to” (Ryan, & Deci, 2000).
Buttner and Moore (1997), based on their research about “Happy Employees Make Productive
Employees” found that when employee attitudes improved by 5%, customer satisfaction jumped
19. by 1.3%, and the revenue increased by 5%. So, motivated employees usually produce more than
others and hence the customer satisfaction increases.
Also, motivated employees will feel as having a strategic partnership with the organization and
their commitments and loyalty will increase from day to day (Anne, 1994). On the other hand,
Deci and Ryan (1985), definite that an organization whose employees have low motivation is
completely vulnerable to both internal and external challenges because its employees are not
going the extra mile to maintain the organization's stability. An unstable organization ultimately
underperforms.Researchers have recommended that employee’s commitment toward their
organizations will enhance their satisfaction and which will benefit the firm (Morris & Sherma,
1981).
20. CHAPTER 3
RESEARCH METHODOLOGY
OBJECTIVE OF THE STUDY:
To study about employee's satisfaction towards monetary and non monetary benefits (with
reference to big bazaar)
MATERIALS AND METHODS
Primary research was conducted, questionnaire was prepared and circulated among the
employees of Big-Bazaar.
Sample size- Eighty (80) employees
Instrument used- Questionnaire
The questionnaire had following features:-
a. Demographic profile
b. Employees were asked to rate monetary and non- monetary factors which have impact on
employee satisfaction
c. In seeking agreement or disagreement on a particular issue, the sequence of responses was
designed as under –
1= Highly satisfied
2= Satisfied
3= Neutral,
4= Dissatisfied,
5= Highly Dissatisfied
21. CHAPTER 4
RESULT AND DISCUSSION
RESULTS
Profile of the respondents
Diagram1: Age profile of the company employees surveyed
Diagram2: Gender profile of the company employees surveyed
No. of employees
below 20
20-35
36-50
above 50
Gender of employees
Male
female
22. The employees were asked to rate monetary and non-monetary factors of employee satisfaction
and the results are summarized below:-
4.1. Are you satisfied with the salary received by you?
Absolute figure percentage
Highly satisfied 55 68.75
Satisfied 15 18.75
Neutral 2 2.5
Dissatisfied 8 10
Highly dissatisfied 0 0
Interpretation:
Almost all the employees are satisfied with the salary they receive.
.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
Competitive Salary
competitive salary
23. 4.2. Is money enough to motivate employee?
Interpretation:
Yes, money is the main source of motivation among employees, many strongly agree to
this.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
Is money enough to motivate employee?
Is money enough to motivate
employee?
Absolute figure percentage
Highly satisfied 58 72.5
Satisfied 6 7.5
Neutral 0 0
Dissatisfied 6 7.5
Highly dissatisfied 10 12.5
24. 4.3 .Work recognition and appraisal motivates employees towards job.
Absolute figure Percentage
Highly satisfied 40 50
Satisfied 8 10
Neutral 8 10
Dissatisfied 16 20
Highly dissatisfied 8 10
Interpretation:
There are 24 employees who are not satisfied with the work recognition and appraisal they
receive.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Work recognition and appraisal motivates
employees towards job
Work recognition and appraisal
motivates employees towards
job
25. 4.4 I am satisfied with the lunch break, rest breaks and leaves given in the organization.
Absolute figure Percentage
Highly satisfied 10 12.5
Satisfied 56 70
Neutral 0 0
Dissatisfied 8 10
Highly dissatisfied 6 7.5
Interpretation:
“Many of them are satisfied with the lunch breaks and leave policy of the organisation.”
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
I am satisfied with the lunch break, rest
breaksand leaves given in the organization
I am satisfied with the lunch
break, rest breaks and leaves
given in the organization
26. 4.5. The employees in the organization feel secured in the job.
Absolute figure Percentage
Highly satisfied 9 11.25
Satisfied 70 87.5
Neutral 1 1.25
Dissatisfied 0 0
Highly dissatisfied 0 0
Interpretation:
No employee in this organization feel insecured about their job.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
100.00%
The employees in the organizationfeel
secured in the job
The employees in the
organization feel secured in the
job
27. 4.6. Good physical working conditions are provided in the organization.
Absolute figure Percentage
Highly satisfied 16 20
Satisfied 48 60
Neutral 6 7.5
Dissatisfied 10 12.5
Highly dissatisfied 0 0
Interpretation:
This graph shows that 60% of the employees are satisfied with working conditions of the
organization.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
Good physical working conditions are
provided in the organization.
Good physical working
conditions are provided in the
organization.
28. 4.7. In the organization bonus scheme is satisfactory
Absolute figure Percentage
Highly satisfied 21 26.25
Satisfied 45 56.25
Neutral 4 5
Dissatisfied 10 12.5
Highly dissatisfied 10 12.5
Interpretation:
20% of the employees are still dissatisfied with the bonus scheme.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
In the organizationbonus scheme is
satisfactory
In the organization bonus
scheme is satisfactory
29. 4.8. Incentives increases employee loyalty towards organization.
Absolute figure Percentage
Highly satisfied 9 11.25
Satisfied 62 77.5
Neutral 3 3.75
Dissatisfied 5 6.25
Highly dissatisfied 1 1.25
Interpretation:
Almost employees agree to this that incentives increases their loyalty towards the work
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
Incentives increasesemployee loyalty
towards organization.
Incentives increases employee
loyalty towards organization.
30. 4.9. Satisfaction with the yearly promotion in the organization.
Absolute figure Percentage
Highly satisfied 0 0
Satisfied 56 70%
Neutral 4 5%
Dissatisfied 14 17.5%
Highly dissatisfied 6 7.5%
Interpretation:
This graph shows that 70% of the employees are satisfied with the yearly promotion.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
Satisfaction with the yearly promotion in the
organization.
Satisfaction with the yearly
promotion in the organization.
31. 4.10. Profit sharing policy of the organization.
Absolute figure Percentage
Highly satisfied 5 6.25
Satisfied 62 77.5
Neutral 8 10
Dissatisfied 3 3.75
Highly dissatisfied 2 2.5
Interpretation:
Profit sharing policy of the organisation is satisfactory.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
highly
satisfied
satisfied neutral dissatisfied highly
dissatisfied
Profit sharingpolicy of the organization.
Profit sharing policy of the
organization.
32. DISCUSSION
From the study it is clear that Monetary and Non-Monetary factors are equally influential when it
comes to employee engagement, – the need for being realistic and rational when it comes to
employee satisfaction. The learning’s are that the influence of all these factors varies as per the
profile of the employee because different employees lay different emphasis on these variables
impacting satisfaction. These variations may arise due to variations in individual and job
characteristics, gender diversity, ethnic diversity etc. Some of the suggestions in this paper
include different employee satisfaction approaches for new employees like strong induction
programs, rigorous training and development programme, certification programme and giving
them a realistic job preview. Some employee satisfaction activities proposed for the existing
employees were reward schemes, communication activities, team building and leadership
activities. It is important for firms to invest in good leadership and management development
programs, well designed communication based programs, sharing of vision and mission and
lastly creating opportunities for interaction. Hence the suggestions from the study can be used to
target employees that are disengaged or facing low engagement levels, after understanding the
workforce profile of employees.”
33. CHAPTER 6
CONCLUSION AND FUTURE PROSPECTS
Big Bazaar is undoubtedly the number one retailer in India. It has built a very emotional and
cordial relationship with its customers. It is also very intending to build long- term
relationship with all its stakeholders, which is very essential for a successful business
venture.”
An employee attitude logically displays the ethics of the organization. In areas of customer
service and sales, happy employees are really important because they represent the organization
to the public. Employees, who love their jobs, stay at their jobs. It is significant for companies to
observe and understand satisfaction level the staff feel toward their job is frankly related to how
fruitfully they carry out their job, how long they remain at their existing place of employment. It
impacts the collective culture of the organization.
Job satisfaction represents one of the most complex areas facing today’s managers when it comes
to managing their employees. Policy makers and managers have turned their attention to provide
different kinds of facilities to their employees in order to satisfy their employees. A good work
environment and good work conditions can increase employee job satisfaction and the employees
will try to give their best which can increase the employee work performance.”
34. REFERENCES
1. Akpinar, A., &Tas, Y. (2012). Performance Evaluation in super markets: An Investigation
on the Effects of the
2. Altarawneh, I., & Al-Shqairat, Z. (2010). Human Resource Information Systems in
Jordanian Universities IntemationalJoumal of Business and Management, Vol. 5, No. 10,
pp:113-127.
3. Aswathappa, K. (2007). Human Resource And Personnel Management. New Delhi: Tata
McGraw-Hill.
4. Aswathappa, K. (2008). Human Resource Management Text and Cases. (Tata McGraw
Hill Publishing Company Limited, New Delhi).
5. Absar, M., Azim, T., Balasundaram, N., Akhter, S. (2010). Impact of Human Resource
Practices on Job Satisfaction: Evidence from manufacturing firms in Bangladesh.
Economics Science Series, 62, 31-42.
6. Absar, M., Mahmood, M. (2011). New Human Resource Management Practices in the
Public & Private Sector Industrial Enterprises of Bangladesh: A comparative assessment.
International Review of Business Research Papers, 7, 118-136.
7. Atteya, N. (2012). Testing the Impact of the Human Resource Management Practices on
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Companies. International Journal of Business and Social Science, 3, 105-120.
35. APPENDIX
Questionnaire
1. Gender - Male female
2. Age- below 20 20-35
36-50 above 50
3. Are you satisfied with the salary received by you?
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
4. Is money enough to motivate employee?
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
36. 5. Work recognition and appraisal motivates employees towards job.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
6. I am satisfied with the lunch break, rest breaks and leaves given in the
organization.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
7. The employees in the organization feel secured in the job.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
37. 8. Good physical working conditions are provided in the organization.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
9. In the organization bonus scheme is satisfactory.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
10.Incentives increases employee loyalty towards organization.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
11. Satisfaction with the yearly promotion in the organization.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
38. 12. Profit sharing policy of the organization.
Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied