Job evaluation is used to determine the relative worth of different jobs in an organization. It analyzes and assesses the content of jobs to rank them and provide a basis for fair compensation. The document discusses various job evaluation methods including analytical methods that break jobs down into factors and comparison methods that rank or classify jobs. It also covers concepts related to compensation including direct compensation like salary and allowances, and indirect compensation like benefits. Key aspects of payroll management and incentives are explained as well.
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.Compensation Management is a Process of compensation management is to establish & maintain an equitable wage & salary structure & an equitable cost structure .it involves job evaluation, wage & salary survey, profit sharing &control of pay costs.
According to Thomas J. Bergmann(1988) compensation consists of four distinct components:
Compensation = Wage or Salary + Employee benefits +Non-recurring financial rewards+ Non-pecuniary rewards.
Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according the business needs, goals, and available resources.
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)
The human resource process begins with a sound Human resource planning. Forecasting the Human Resource Demand and appropriately balancing the deficiency or surplus either from the internal environment or from the external environment lays down the foundation of a sound human resource planning. Explore More!
Performance-linked compensation (PLC) is a form of payment from an employer to an employee, which is directly related to the performance output of an employee and which may be specified in an employment contract.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.Compensation Management is a Process of compensation management is to establish & maintain an equitable wage & salary structure & an equitable cost structure .it involves job evaluation, wage & salary survey, profit sharing &control of pay costs.
According to Thomas J. Bergmann(1988) compensation consists of four distinct components:
Compensation = Wage or Salary + Employee benefits +Non-recurring financial rewards+ Non-pecuniary rewards.
Compensation is a tool used by management for a variety of purposes to further the existence of the company. Compensation may be adjusted according the business needs, goals, and available resources.
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)
The human resource process begins with a sound Human resource planning. Forecasting the Human Resource Demand and appropriately balancing the deficiency or surplus either from the internal environment or from the external environment lays down the foundation of a sound human resource planning. Explore More!
This is a class long project to design and implement a compensation system based on a company profile, market data, and current pay data. Our goal was to redesign the compensation structure to better align with the business objectives of the company. All data and analysis was stored in an Access database.
Job Evaluation: concept, process, compensation: concept, components, Designing and Administering the Wage and Salary Structure, Grievance Procedure and Handling.IT is about maintainence of HUMAN RESOURCES
Desighning employee benefits and servicesamsalu123
When an organization design overall its compensation program, a critical areas of concern is what benefits to provide. Today’s workers expect more than just an hourly wage or a salary; they want additional considerations that will enrich their lives. These considerations in and employment setting are called employee benefits.
- Compensation
- Compensation Administration
- Types of Compensation
- Objectives of Compensation
- Nature of Compensation
- Principles of Wage and Salary Administration
- Components of Salary Administration
It is important to ensure that the approach taken is guided by the compensation philosophy and is applied consistently. Ensuring that established guidelines are followed will prevent offering a compensation package so tailored to a person that the organization is jeopardized by having too heavy a financial burden or that flexible arrangements actually hinder the critical work from being completed. It takes a carefully crafted balance between the organizational needs and the individual considerations to arrive at the optimal compensation structure.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2. Job Evaluation
Determine the worth of one job in relation to that
of another without regard to the personalities.
It analyses & accesses the content of jobs, to
place them in some standard rank order.
It is used as a basis for a fair and logical
remuneration system.
3. Importance
To decide salary
Level of job
Importance of job
To reduce loss of time due to wage negotiation &
disputes.
5. JOB EVALUATION METHODS
Comparison Method Analysis Method
Entire Job Job Factors
Job Against Scale
Job Against Job
Classification Point Method
Ranking
Factor
Comparison
6. Comparison Method…
Ranking Method : on the basis of its title
Classification Method : on the basis of job as a
whole (degree of skill, responsibilities, physical
work & other job characteristics.)
7. Analytical Method…
Point Ranking Method : Job is broken down into
its component factors and then evaluated
separately rather than evaluating the job as a
whole.
Factor Comparison Method : Five factor are
mental requirements, skill requirements, physical
requirements, responsibilities & working
condition.
11. Compensation Management
Compensation provided to employees can direct in
the form of monetary benefits and/or indirect in the
form of non-monetary benefits known as perks, etc.
Compensation does not include only salary but it is
the sum total of all rewards and allowances provided
to the employees in return for their services.
13. Direct Compensation
Direct compensation refers to monetary benefits
offered and provided to employees in return of
the services they provide to the organization.
15. Components in Direct Compensation
Basic Salary
HRA (House Rent Allowance)
CA (Conveyance Allowance)
LTA (Leave Travel Allowance)
Medical Reimbursement
Bonus (Salary Bonus)
SA (Special Allowance)
16. Components in Direct Compensation
1) HRA (House Rent Allowance):
Organizations either provide accommodations to
its employees who are from different state or
country or they provide house rent allowances to
its employees
17. Components in Direct Compensation
2) Conveyance :
Organizations provide for cab facilities to their
employees. Few organizations also provide
vehicles and petrol allowances to their employees
to motivate them.
18. Components in Direct Compensation
3) Leave Travel Allowance:
These allowances are provided to retain the best
talent in the organization.
The employees are given allowances to visit any
place they wish with their families.
The allowances are scaled as per the position of
employee in the organization.
19. Components in Direct Compensation
4) Medical Reimbursement :
Organizations also look after the health
conditions of their employees.
The employees are provided with medi-claims for
them and their family members.
These medi-claims include health-insurances
and treatment bills reimbursements
20. Components in Direct Compensation
5) Bonus:
Bonus is paid to the employees during festive
seasons to motivate them and provide them the
social security .
The bonus amount usually amounts to one
month’s salary of the employee.
21. Components in Direct Compensation
6) Special Allowance :
Special allowance such as overtime, mobile
allowances, meals, commissions, travel
expenses, reduced interest loans; insurance, club
memberships, etc are provided to employees for
motivation and company’s productivity.
22. Indirect Compensation
Indirect compensation refers to non-monetary
benefits offered and provided to employees in lieu
of the services provided by them to the
organization.
They include Leave Policy, Overtime Policy, Car
policy, Hospitalization, Insurance, Leave travel
Assistance Limits, Retirement Benefits, Holiday
Homes.
25. Components in Indirect
Compensation
1) Leave Policy:
It is the right of employee to get adequate
number of leave while working with the
organization.
The Leave Policy differs in every organization.
The organizations provide for paid leaves
such as, casual leaves, medical leaves (sick
leave), and maternity leaves, statutory pay,
etc.
26. Components in Indirect
Compensation
2) Overtime Policy :
Employees should be provided with the adequate
allowances and facilities during their overtime, if
they happened to do so, such as transport
facilities,etc.
27. Components in Indirect
Compensation
3) Hospitalization :
The employees should be provided allowances to
get their regular check-ups, say at an interval of
one year.
Even their dependents should be eligible for the
medi-claims that provide them emotional and
social security.
28. Components in Indirect
Compensation
4) Insurance :
Organizations also provide for accidental
insurance and life insurance for employees.
This gives them the emotional security and they
feel themselves valued in the organization.
29. Components in Indirect
Compensation
5) Leave Travel :
The employees are provided with leaves and
travel allowances to go for holiday with their
families. Some organizations arrange for a tour
for the employees of the organization.
This is usually done to make the employees
stress free.
30. Components in Indirect
Compensation
6) Retirement Benefits :
Organizations provide for pension plans and
other benefits for their employees which benefits
them after they retire from the organization at the
prescribed age.
31. Components in Indirect
Compensation
7) Holiday Homes :
Organizations provide for holiday homes and
guest house for their employees at different
locations.
These holiday homes are usually located in
hill station and other most wanted holiday
spots.
The organizations make sure that the
employees do not face any kind of difficulties
during their stay in the guest house.
32. Components in Indirect
Compensation
8) Flexible Timings :
Organizations provide for flexible timings to the
employees who cannot come to work during
normal shifts due to their personal problems and
valid reasons.
34. Payroll Management
Payroll refers to the administration of
employees' salaries, wages, bonuses, net
pay, and deductions.
It consist of the employee ID, employee
name, date of joining, daily attendance record,
basic salary, allowances, overtime pay, bonus,
commissions, incentives, pay for holidays,
vacations and sickness, value of meals and
lodging etc.
There are some deductions such as PF,
taxes, loan installments or advances taken by
employee.
36. Payroll Management
Deductions such as tax and loan/advances
taken by the employee from organizations are
deducted only where applicable.
Dearness Allowance and House rent
allowance is provided at a fixed rate stated by
the employment law.
Provident fund is deducted from the gross
salary of employee on the monthly basis as
per the employment law, which is provided
later to the employee.
Organizations also contribute the same
amount to the provident fund of the employee.
37. Annual Payroll Management
What is Annual Payroll?
Annual payroll consists of leave travel
allowances, incentives, annual bonuses, meal
vouchers/reimbursements, and medical
reimbursements.
40. Incentive Management
In today’s strategic compensation systems,
incentives forms an integral part of the
performance based compensation packages.
It is a challenge for organizations to formulate
strategies to maintain the internal equity and
external equity and provide the most
competitive compensation packages to attract
and retain the talented workforce
41. Incentive Management
For the purpose effective incentives programs are
undertaken. Employees are involved in the
process so as to deliver un-biased packages to
all the employees.
The compensation strategies should be effective.
All the employees should be aware of the
organizational goals and objectives.
43. Benefits of Incentives
Deserving employees should receive
significant rewards .
Incentives accounts for employees’ high
productivity.
Today youngsters believe in performance
based pay, thus incentives will help to
motivate them to produce more.
In the hospitality and retail industry it is the
incentive that accounts for the overall
package of the employee.
45. COMPENTENCY MAPPING
Competency mapping is a way of assessing the
strengths and weaknesses of a worker or
organization.
It's about identifying a person's job skills and
strengths in areas like teamwork, leadership, and
decision-making.
Work History
46. Strengths in two major areas :
Functional – Practical Knowledge
Behavioral- Personal Skills