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An analysis of employee benefits

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HRM PERFORMANCE APPRAISAL

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An analysis of employee benefits

  1. 1. GROUP MEMBERS Safwat Jahan Atiqur Rahman Iffat Sultana Mohammad Anisuzzaman Md. Shamim Khan Dr. Kamal Uddin Ahmed Professor, MBA Program North South University PREPARED FOR
  2. 2. An Analysis of Employee Benefits: A Case Study on Rahimafrooz Distribution Ltd.
  3. 3. Overview of Rahimafrooz Distribution Ltd. (RDL)
  4. 4. Parent Company: Rahimafrooz (Bangladesh) Ltd. Rahimafrooz Distibution Limited: Nationwide Distribution Network 172 Dealers, 263 Retailers 400 Outlets Electronics Retail Chain Products: Batteries Tyres Lubricants Rahimafrooz IPS Rahimafrooz UPS
  5. 5. Recruitment Policy Corporate Design & Grade Policy Training Policy Promotion Policy Performance Management Policy HR Functions at RDL
  6. 6. *Attracting and keeping the best employees *Ensuring organization’s competitive edge *Toolset for strategic remuneration planning Compensation / Benefits
  7. 7. 4 2 1 3 1 2 3 4Responsibilities Mental Efforts Physical Efforts Skills Compensation System in RFD
  8. 8. Employee Benefits Direct Financial Benefits Indirect Financial Benefits Non-Monetary Benefits Employee Benefits of RFD
  9. 9. Direct Financial Benefits of RFD BASE SALARY1 FESTIVAL BONUS2 KRA (KEY RESULT AREA) BONUS 3 ANNUAL VARIABLE PROFIT BONUS (VPB) 4 SALES INCENTIVE5 CORPORATE BONUSES
  10. 10. Table: Components of Monthly Salary A) Basic Pay Component-1 B) Cash Allowance 1 House Rent 2 Conveyance 3 Medical Allowance 4 Leave Allowance 5 Entertainment Allowance Expenses 6 House Maintenance Expenses 7 Club Member Ship Expenses 8 Mobile Phone Expenses Total Cash Allowance (1-10) Component-2 Guaranteed Cash (A+B)
  11. 11. Indirect Financial Benefits of RFD Indirect Gratuity Provident Fund Group Life Insuranc e Hospitali zation Benefits Vacation / Holiday Benefits Others: • Overtime for Non- management Employees • Tour Allowance for Business Travel
  12. 12. Non-Monetary Benefits of RFD Non- Monetary Benefits Training Education Sponsorship Car & Motorcycle
  13. 13. Stress of Work Leadership Role Employee’s Opportunities Factors Influencing Offered Benefits Life Style and Social Class
  14. 14. For Employees For Employer Benefits of Benefit Plan
  15. 15. Establish wage & salary plan Ensure health & medical allowance plan Make sure effective Provident fund plan 1 2 3 Make sure short term & long term benefit plan 5 6 Make situation demanding profit sharing plan Purpose of Benefit Plans of RDL
  16. 16. Conclusion

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