Compensesation Management Rohn
Infosys has grown to US $ 2 billion Company by the year 2006, it has still retained the culture of a small company. Infosys evolves from the best talent from across the country and recruits candidates by conducting vigorous selection process. The company follows variable compensation structure where the employee’s compensation depended on the performance of the individual, for the team and the company.
“Compensation is payment in the form of hourly wages or annual salary combined with benefits such as insurance, vacation, stock options, etc. that can positively or negatively affect an employee's work performance”Robbins “ Compensation management is a method of determining the cost of effect pay structure designed to attract and preserve, provide an incentive to work hard and structures to ensure that pay levels are perceived as fair”
The real challenge is to how the company is able to integrate all the subsystems in HR. eventually this would help the organization for achieving exceptional performance. People have to be groomed to get in with the performance culture. The company has to create an environment that stimulates the creation of knowledge; its sustenance will be the challenge for Infosys in the future. HR department can not function with traditional systems. Now the role will shift to HR facilitator, to facilitate change process. HR facilitator will have to involve the whole organization in this process and act as a guide, coach, counselor and facilitator. Infosys as a company is a leader in its own stride. Infosys has excellent recruitment policies, huge data bank, placement agencies. Infosys also conducts rigorous tests to ensure that they can get high profile talent that will fit in their culture. At Infosys the best performance system is in place that evaluates the organization as whole. Infosys has been able to tackle the quantum of performance with fairly efficient manner. The prime tasks for Infosys is to build corporate culture.
WHY
“Compensation is payment in the form of hourly wages or annual salary combined with benefits such as insurance, vacation, stock options, etc. that can positively or negatively affect an employee's work performance”Robbins “ Compensation management is a method of determining the cost of effect pay structure designed to attract and preserve, provide an incentive to work hard and structures to ensure that pay levels are perceived as fair”
The real challenge is to how the company is able to integrate all the subsystems in HR. eventually this would help the organization for achieving exceptional performance. People have to be groomed to get in with the performance culture. The company has to create an environment that stimulates the creation of knowledge; its sustenance will be the challenge for Infosys in the future. HR department can not function with traditional systems. Now the role will shift to HR facilitator, to facilitate change process. HR facilitator will have to involve the whole organization in this process and act as a guide, coach, counselor and facilitator. Infosys as a company is a leader in its own stride. Infosys has excellent recruitment policies, huge data bank, placement agencies. Infosys also conducts rigorous tests to ensure that they can get high profile talent that will fit in their culture. At Infosys the best performance system is in place that evaluates the organization as whole. Infosys has been able to tackle the quantum of performance with fairly efficient manner. The prime tasks for Infosys is to build corporate culture.
WHY