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This document discusses the components that make up an employee's pay packet or compensation package. It is comprised of statutory and obligatory components including basic pay, dearness allowance, house rent allowance, city compensatory allowance, annual bonus, and allowances. Basic pay matches an employee's job worth and experience level. Dearness allowance accounts for price inflation. House rent allowance helps cover accommodation costs. City compensatory allowance adjusts for varying rental rates between cities. Annual bonus recognizes employee efforts and contributions. Allowances provide additional compensation for tasks like working on projects away from home or office. The compensation package aims to meet employees' basic needs as well as costs of living while rewarding skills, experience and performance.
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Aligning compensation strategy with hr strategy & business strategy by dr. g ...
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compensationnn-161002165856.pptx
Compensation refers to the monetary and non-monetary benefits provided to employees in exchange for their work. It aims to assist with recruitment, performance, and satisfaction. Compensation includes direct financial components like salaries, bonuses, and allowances as well as indirect non-financial benefits like insurance, leave, and retirement plans. It should be structured according to legal, adequate, motivational, equitable, secure, and cost-effective principles.
compnsation c-1 2015.pptx
This document provides an introduction to compensation management. It defines compensation as all forms of pay received by employees in exchange for their work, including both financial and non-financial compensation. Financial compensation includes direct payments like salaries, wages, bonuses, and commissions as well as indirect fringe benefits like healthcare, retirement plans, and paid time off. Non-financial compensation includes recognition, job security, and responsibility. The objectives and principles of compensation management are discussed, such as acquiring qualified employees, ensuring pay equity, and controlling costs. Factors that influence compensation decisions include supply and demand for labor, cost of living, and union involvement.
Compensation system
The document discusses the main components of a compensation system that firms offer employees. It defines compensation and identifies its four main components: wages/salary, employee benefits, non-recurring financial rewards, and non-pecuniary rewards. It then describes the various components of a compensation system in detail, including basic wages/salaries, allowances like dearness allowance, incentives, bonuses, non-monetary benefits, commissions, mixed plans, piece rate wages, fringe benefits, and profit sharing. Both direct/base compensation like basic salary and indirect/supplementary compensation like leave policies are examined.
Unit IV.pptx
Compensation refers to all forms of pay or rewards given to employees in exchange for their work. It includes both direct monetary compensation like salaries and bonuses, as well as indirect non-monetary compensation like benefits and rewards. Compensation aims to attract, motivate, and retain employees while being fair, affordable, and legally compliant. It typically consists of base pay, incentives, benefits, and other financial or non-financial rewards. Management uses compensation strategies to further business goals within available resources.
module iv types of compensation plans
This document discusses various compensation plans for employees, including straight salary plans, straight commission plans, combination salary/commission plans, bonuses, fringe benefits, and sickness benefits. Straight salary plans provide a fixed payment each pay period. Straight commission plans pay employees based solely on sales volume. Combination plans include both a base salary and commission. Bonuses can be paid as a percentage of salary or profits. Fringe benefits and sickness benefits provide additional compensation to employees. The goal of sales compensation plans is to motivate employees and ensure retention.
Compensation
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.
compensationnn-nnn.pdf
Compensation refers to the monetary value and benefits provided to employees in exchange for their work. It aims to assist in recruitment, performance, and satisfaction. Compensation includes direct financial components like wages and salaries as well as indirect non-financial benefits like insurance and leave. It is a tool used by management to further business goals while balancing costs. Principles of compensation include being legal, adequate, motivational, equitable, providing security, and being cost-effective.
Compensation plan ppt
This document outlines a sales compensation plan. It discusses different methods for structuring compensation, including ranking, grading, and point systems. It also covers determining compensation levels, common compensation elements like salary, commission, bonuses, and expenses. Finally, it describes different types of plans like straight salary, straight commission, and salary plus commission plans. Fringe benefits and bonuses are also discussed as additional rewards.
Compensation management
Compensation management involves balancing the employee-employer relationship through monetary and non-monetary benefits. Compensation includes direct payments like bonuses and commissions as well as indirect perks like company housing and stock options. It is an important part of human resource management that helps motivate employees and improve organizational effectiveness. Compensation establishes standards for employee contributions and performance while minimizing turnover to achieve a stable workforce. It also complies with labor laws to avoid disputes and build positive relationships between management and employees.
Compensation management chap6
This document discusses different components of employee compensation. It defines compensation as all forms of financial return, tangible services, and benefits received by employees. It outlines direct compensation such as basic salary, bonuses, commissions, and mixed/variable pay plans. It also discusses indirect compensation or benefits including insurance, paid time off, retirement plans, and perks. The document explains how compensation systems are designed and compensation theories like expectancy theory and equity theory. It provides examples of different types of direct compensation including basic wages, dearness allowance, bonuses, commissions, piece rates, and profit sharing.
Compensation Management
This document defines compensation and its objectives, discusses factors that influence compensation, and describes the various types of direct and indirect compensation. The key objectives of compensation are to attract, retain, and motivate qualified employees. Compensation includes direct wages/salaries as well as indirect benefits and is influenced by market rates, cost of living, productivity, and other economic factors. Common types of direct compensation are salary, wages, bonuses, and commissions, while indirect compensation includes benefits like healthcare, paid time off, and retirement plans.
COMPENSATION .pptx
It is a ppt on compensation, which is very important to study . This ppt is in very simple language which is very easy to understand and learn
Compensation.pptx
This document discusses compensation plans for sales forces. It defines compensation and remuneration, and describes the differences between compensation and allowances. It outlines various types of compensation plans including straight salary, straight commission, and combinations of salary and incentives. It also discusses forms of commissions, fringe benefits, bonuses, perquisites, and allowances. Key features of an effective compensation plan and steps for developing a sales compensation plan are provided.
Mu0015
The document discusses compensation management and compensation dimensions. It defines compensation management as attracting and retaining talent through competitive remuneration packages. Compensation includes both monetary pay as well as non-monetary benefits. It classifies compensation dimensions into payment for work, payment for non-working days, income continuation benefits during job loss, disability, retirement, and for spouse/family. It also includes health, accident and liability protection as well as income equivalent payments or perks. The document emphasizes the importance of compensation for motivating employees and increasing organizational effectiveness.
Remuneration
The document discusses remuneration policies and practices at an unnamed organization. It acknowledges those who helped in developing a remuneration project and provides an index of contents which includes sections on remuneration, staff remuneration, executive remuneration, and terms and conditions. The introduction establishes that the Remuneration Committee is responsible for making pay recommendations to align executive pay with shareholder interests while allowing for recruitment and retention of executive talent. The remuneration policy was designed with shareholder consultation to establish a framework consistent with the company's size, recruitment needs, and shareholder guidelines.
Dr. Jhansi Rani M R - International CompensatIon (Module VI B)
Dr. Jhansi Rani M R, Dr. M. R. Jhansi Rani, Approaches of international compensation, key components of an International compensation program, executive compensation.
Components Of Compensation Management
Components of compensation means components of remuneration to employees. An average employees in the organized sector is usually entitled to various benefits. Compensation is a payment made in cash to the employee in return of the contribution that he/she makes in the organization.
1. Base Pay Structure (Fixed component);
2. Variable Pay Programs;
3. Benefits;
4. Rewards & Recognition
comp structure.pptx
This document discusses the structure of compensation and its major components. It defines compensation as the total rewards provided to employees in exchange for their services. Compensation includes direct financial payments like wages and salaries as well as indirect financial benefits like health insurance. It also includes non-financial compensation such as satisfaction from the job itself. The major components of compensation discussed are basic salary/wages, incentives, fringe benefits, perquisites, and non-monetary benefits. Determinants that influence compensation structure are also outlined, including economic factors like the labor market, job requirements, and discrimination as well as organizational and social factors.
Compensation management unit 1
Compensation management is an integral part of managing an organization and involves designing total compensation packages for employees. It aims to assist with recruitment, job performance, and satisfaction through monetary and non-monetary benefits. Compensation includes basic wages or salaries as well as other components like dearness allowance, incentives, bonuses, commissions, benefits, and profit sharing. Effective compensation management contributes to an organization's success by attracting and retaining quality employees while managing costs. It is important for managers to appreciate the value of competitive pay and investing in human resources.
Similar to Mod 3 (20)
Dr. Jhansi Rani M R - International CompensatIon (Module VI B)
Dr. Jhansi Rani M R - International CompensatIon (Module VI B)
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Module 6 comepensation !!!!!!
The document discusses designing pay levels, structures, and surveys. It covers determining competitive pay levels and structures through defining relevant labor markets, designing and conducting salary surveys, analyzing survey data, and setting pay policies. The goal is to collect compensation data from competitors to determine appropriate pay levels and structures for matching jobs internally and staying competitive externally.
Methods of data collection
The document discusses methods of collecting data for research. It describes primary data collection methods like observation, interviewing, surveys, and experimentation which involve directly collecting unpublished data from original sources. Secondary data collection methods involve using already published data for research purposes and include sources like census reports, company annual reports, and reports from government departments and international organizations. Both primary and secondary data have advantages and limitations for research. The choice of data collection method depends on the specific needs and conditions of the study.
Malhotra04....
The document discusses and compares various survey methods and observation techniques used in market research. It provides classifications and criteria for evaluating different methods. Survey methods include telephone interviews, in-person interviews, mail surveys, and internet surveys. Observation techniques range from personal observation to mechanical, audit, content, and trace analysis. The document also outlines relative advantages and disadvantages of observation methods compared to survey approaches.
Malhotra03.....
The document provides an overview of different types of marketing research data and qualitative research procedures used to collect and analyze marketing data. It discusses survey data, observational data, experimental data, qualitative data, and secondary vs. primary data. It then describes various qualitative research procedures like focus groups, depth interviews, and projective techniques. The remainder of the document provides details on planning and conducting focus groups, moderator qualifications, advantages and disadvantages of different qualitative research methods, and comparisons between focus groups, depth interviews, and projective techniques.
Malhotra02.....
A research design is a framework that details the procedures needed to obtain information to solve marketing problems. It includes defining needed information, designing exploratory, descriptive, or causal phases, specifying measurement and sampling procedures, and developing a data analysis plan. Research designs are classified as exploratory, descriptive, or causal depending on their objectives and characteristics. Exploratory research aims to provide insights and is flexible, while descriptive and causal research have clearly defined objectives and structured processes.
Malhotra01.....
Marketing research involves systematically collecting, analyzing, and reporting information to improve marketing decisions. There are two main types: problem identification research which helps identify unknown issues, and problem solving research which addresses specific problems. Problem solving research includes segmentation research, product research, pricing research, promotional research, and distribution research. The goal of marketing research is to provide relevant information to marketing managers to help them make better decisions around segmentation, targeting, marketing programs, and performance.
Hypothesis
Hypotheses are assumptions that can be tested scientifically. A null hypothesis assumes no difference or relationship, while an alternative hypothesis predicts a difference or relationship. Statistical tests determine if results reject the null hypothesis. A Type I error rejects a true null hypothesis, while a Type II error fails to reject a false null hypothesis. Two-tailed tests consider results higher or lower than predicted, while one-tailed tests consider only one direction of difference. Common statistical tests include z-tests, t-tests, chi-squared tests, and F-tests.
Im ppts
The document provides an overview of several theories of international trade, including mercantilism, absolute advantage, comparative advantage, Heckscher-Ohlin theory, and product life cycle theory. It discusses key aspects of each theory such as how they explain patterns of trade and specialization between countries. Mercantilism stressed accumulating gold by encouraging exports and discouraging imports. Absolute advantage argued that countries should specialize based on where they are most productive. Comparative advantage built on this by recognizing even without an absolute advantage, trade can benefit countries. Heckscher-Ohlin theory focused on specializing based on a country's most abundant resources. Product life cycle theory examined how products are traded as they progress through different stages.
eprg link
This document discusses stages of internationalization for companies. It suggests there are four main stages - domestic, early international involvement, advanced international involvement, and multinational. The early stages involve occasional exporting while later stages see companies establishing foreign production or fully integrated multinational operations.
Global
The document discusses the history and modern development of globalization. It begins around 3000 BC with trade links between early civilizations, and continued through periods like the Islamic Golden Age. After World War 2, political planning broke down borders to increase trade and interdependence. Globalization since then has integrated national economies through increased trade, investment, technology sharing, and global institutions like the WTO. Both benefits and criticisms of economic globalization are mentioned.
Final im ppt !!!
The document discusses international business opportunities in India. It notes that India has high-skilled labor and a growing middle class, making it attractive for business. However, a uniform strategy is not advisable due to cultural diversity across regions. Several sectors like IT, pharmaceuticals, and infrastructure have potential. Bodies like CII and FICCI help foster international ties and make policy recommendations. Overall, international business in India is growing significantly and future prospects are positive.
Exim po...
The document summarizes India's export-import (EXIM) policy. It discusses the objectives of EXIM policy as facilitating globalization and promoting productivity and competitiveness. It outlines various export promotion schemes like duty drawback, export promotion capital goods scheme, and duty exemption/remission schemes. It also discusses volumes of EXIM policy, foreign trade policy 2009-2014 which aimed to double India's exports and share in global trade, and highlights incentives introduced or extended like benefits for status holders, income tax exemptions, and enhanced export credit insurance coverage.
Exim po...(1)
The document summarizes India's foreign trade policy for 2009-2014. The key objectives of the policy are to double India's exports by 2014 and share in global trade by 2020. It outlines various export promotion schemes like duty drawback, EPCG, and duty exemption schemes. The policy aims to simplify procedures, provide higher support for new markets and products, and increase targets and incentives under existing schemes like Focus Market and Focus Product. It also announces extensions of benefits and higher allocations for various sectors to boost foreign trade and earnings.
Europe (team full)
Europe is a continent located in the Northern Hemisphere and Western Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, and the Mediterranean Sea to the south. Europe has a population of over 800 million people and a diverse mix of cultures and religions, with Christianity being the dominant religion. The major political entities in Europe include the European Union and the Council of Europe.
Distribution and logistics mcim
This document discusses international distribution and logistics. It defines distribution channels and international channel systems, including direct and indirect exporting. It also lists factors that influence channel selection and the various components of an international logistics system, such as fixed facilities location, transportation, inventory management, order processing, and materials handling/warehousing.
Bcg&ge
This document discusses various tools and frameworks for analyzing international markets and selecting markets for expansion, including the BCG matrix, GE matrix, and analyzing market attractiveness and business strength. The BCG and GE matrices map markets based on growth rate and relative market share/position to determine strategies such as invest, build, protect, harvest. Additional factors for assessing market attractiveness and business strength are also provided, along with corresponding strategies for different market profiles.
The concept of export promotion
The document discusses India's institutional infrastructure for export promotion. It outlines the various government organizations that work to promote exports, including the Department of Commerce, Export Promotion Councils, Commodity Boards, autonomous bodies like APEDA and MDEDA, and state-level export promotion agencies. The roles of these institutions include creating export awareness, providing assistance and incentives to exporters, addressing trade barriers, and facilitating international marketing operations.
Wage theory !!! mod 1
1. The wage fund theory advocated by John Stuart Mill assumes that the supply of labor is fixed and demand for labor consists of a fixed sum determined by capitalist employers, with demand determined by the size of the wage fund.
2. The standard of living theory advocated by Karl Marx assumes that wages should allow workers to support themselves and their families and live comfortably according to societal standards.
3. The bargaining theory proposed by John Davidson assumes that wages are determined by the relative bargaining power of employers and employees.
Module 6 of compenssation !!!
1. The chapter discusses external competitiveness in pay levels and determining pay relative to competitors.
2. External competitiveness is influenced by labor market factors like supply and demand, product market factors like competition and demand, and organization factors like industry and strategy.
3. Setting pay levels impacts labor costs, while pay mix focuses on attracting and retaining employees relative to competitors.
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3:国家专业人才认证中心颁发入库证书
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对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：可来公司面谈，可签订合同，会陪同客户一起到教育部认证窗口递交认证材料，客户在教育部官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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Mod 3
- 1. Module 3: PAY PACKET Pay packet - Wages enclosed in an envelope for distribution to the wage earner.
- 3. Extra to meet rising cost of living
- 4. Cushion to meet price fluctuations
- 5. Extra for extra work
- 6. Facilities or reimbursements to satisfy positional needs
- 7. Extra for offering expertise or creative contribution
- 9. Break up of components of compensation Compensation package = Basic + DA + HRA + CCA (City compensatory allowance) + Conveyance + Additional Perks & Fringe.
- 10. BASIC It matchesjob worth with the human skill, knowledge and experience to perform the job and is a stable wage/salary part of the compensation paid over a period of time, which could be weekly or monthly, and must be paid by the employer to meet the basic needs of the employees. FIXATION OF BASIC PAY: It is fixed as per the job evaluation points for a particular group of jobs and by comparing its worth with other job prices for similar jobs in other organizations to cover equity concept.
- 11. DEARNESS ALLOWANCE (da) It takes care of the price inflation that affects the purchasing power of the employees. It is a regular and continuing part of the compensation package that gets changed according to the price increase. FIXATION OF da: For the employees of PSU’s, Governments through the Wage Board and/or the Pay Commissions fix this component periodically based on the CPI (Consumer Price Index) to satisfy the real values of wage or salary.
- 12. HRA (House rent allowance) Takes care of the cost of living and provides extra money to meet the housing accommodation expenses so that the employee can maintain his/her status. FIXATION OF HRA: The wage board or pay commission fixes HRA in the government sector, and in the private sector it is fixed by the employers depending upon the wage/salary policy and the capacity to pay.
- 13. CCA (CITY COMPENSATORY ALLOWANCE) In the same region, the rental rates may vary according to the ranking of the city such as urban, metro, or class A, B, C etc. To meet the expense of cost of living in different grades of the city, employer includes CCA in compensation package.
- 14. Annual bonus Bonus is the most expected component of compensation, especially when an employee stays with the organization for more than a year and expects recognition of his/her continuous efforts throughout the year to let the organization earn and grow.
- 15. FORMS OF ANNUAL BONUS Customary bonus: Commitment of org defined in their policy, such as ex-gratia payment (One-time extra payment in addition to normal pay, made out of gratitude or courtesy or in recognition of a special contribution), attendance bonus, productivity bonus etc which cannot be claimed as a right but depends on the company’s policy and plans. Profit based bonus: Payment of the share of profit or extra earning achieved through the efforts of the employees.
- 16. Allowances Project allowance is offered to the employees sent to implement any project outside the works and to motivate him/her to be away from the family. Shift allowance is to encourage an employee to work in shifts such as employees of call centres or outsourcing agencies. Washing allowance helps the employees to maintain neatness and cleanliness without losing their real earnings.
- 17. Conveyance allowance Conveyance allowance is paid to the employee to compensate the expenses incurred by the employees on travelling.