MANAGING COMPENSATION Compensation A total amount of the monetary and non-monetary pay provided to an employee by an employer in return of work performed as required. Pay is a statement of an employee’s worth by an employer. Pay is a perception of worth by an employee. Total Compensation Direct Wages / Salaries Indirect Time Not Worked • Vacations • Breaks • Holidays Commissions Bonuses Gainsharing Insurance Plans • Medical • Dental • Life Security Plans • Pensions
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Nur Malik Course Instructor BRAC Business School BRAC University Subject: Submission of Term Paper “Compare and Contrast Personnel Forecasting and Recruitment Process” (MGT-301) Dear Madam‚ It is a great pleasure that we are finally submitting our final Term Paper “Compare and Contrast Personnel Forecasting and Recruitment Process”. The practical exposure while working on this paper helped our team to bridge the academic work and the practical knowledge. We were very fortunate to
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Compensation Management Q1.a. What is the role of compensation and rewards in modern organization? What arethe advantages of a fair compensation system? Ans1a. Role of Compensation and Reward in Organization: Compensation and Reward system plays vital role in a business organization. Since‚ among four Ms‚ i.e Men‚ Material‚ Machine and Money‚ Men has been most important factor‚ it is impossible to imagine a business process without Men. Land‚ Labor‚ Capital and Organization are four major factors
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clients by using their political power against these institutions and get their employees ranked. Economic: Investment Behavior: Investment behavior of the people largely depends on the economic condition of the country and this might affect the compensation of the analysts. Social: The ability of the analysts is based on their age. This industry provides the job which demands a lot of global travelling‚ interact with high end clients‚ have great communication skills‚ etc. Technological: The new
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states that‚ “Compensation represents both the intrinsic and extrinsic rewards employees receive for performing their jobs and for their membership as employees” (3). Compensation can be in the form of money and also services or discounts. Monetary rewards or bonuses and vacations are common in many work places. Other examples include healthcare for the employee and possibly his/her family also‚ 401K‚ retirement‚ salary incentives‚ child care assistance and even time shares. Compensation does cost companies
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the sources of recruitment? Recruiting is the process of generating a pool of qualified applicants for employment. Employers use various techniques to fill vacancies that require specific knowledge‚ skill and abilities. The demand labour changes and the numbers of people looking for jobs change over time. This change makes recruitment a continuous process‚ whether to fill vacancies or to beef up the numbers in response to organisational growth. The environment in which recruitment takes place is
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Recruitment and selection of a sales and marketing manager ABC biscuit company is a very profitable company which has achieved a remarkable growth during the last two years. They had 55 local customers and 5 foreign customers. One of their objectives were to increase their sales turnover in 20%.in order to do this they were focusing to expand their international customer base. This company has 60 employees and mr.de Silva the finance manager is handling all recruitments. Most of the employees whom
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Part A Introduction Reward management relates pay and other benefits to objectives of the company and the individual. Reward Management is of fundamental importance in relation to good management. Without a solid approach towards reward management‚ an organisation is likely to have an unsatisfied or unmotivated workforce. It covers both strategy and practice in regards to pay systems. It has to support the achievement of the business strategy. The overall aim of reward management is that employees
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Trends in Total Compensation Management Establishing the Foundation for Compensation Management Benchmark Research White Paper Aligning Business and IT To Improve Performance Ventana Research 2603 Camino Ramon‚ Suite 200 San Ramon‚ CA 94583 info@ventanaresearch.com (925) 242-2579 www.ventanaresearch.com © Copyright Ventana Research 2012 Do Not Redistribute Without Permission Ventana Research – Benchmark Research: Trends in Total Compensation Management San Ramon‚ California July 2011 Ventana
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Compensation pattern adopted by TATA MOTORS FINANCE LTD. Wrt Sales management position. RAHUL SHARMA A30101911073 PRIYANKA SHAHI A301019110 11/4/2012 RAHUL SHARMA [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] TATA MOTORS FINANCE LTD.: Over five decades of expertise in vehicle financing‚ Tata Motors Finance
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