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    Final Compensation PPT 2

    Uploaded by

    parakhs
    This presentation discusses compensation and benefits. It begins by defining compensation and its objectives, like attracting and retaining talent. It then covers factors that influence compensation, different types of wages, and India's compensation structure. Key concepts discussed include total rewards, intrinsic and extrinsic rewards, and incentive plans. The presentation also outlines different types of employee benefits like health insurance, retirement plans, loans and leave. It closes by discussing challenges in implementing compensation plans and the importance of a total rewards strategy in aligning compensation with business goals.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    Final Compensation PPT 2

    Uploaded by

    parakhs
    480 views18 pages
    This presentation discusses compensation and benefits. It begins by defining compensation and its objectives, like attracting and retaining talent. It then covers factors that influence compensation, different types of wages, and India's compensation structure. Key concepts discussed include total rewards, intrinsic and extrinsic rewards, and incentive plans. The presentation also outlines different types of employee benefits like health insurance, retirement plans, loans and leave. It closes by discussing challenges in implementing compensation plans and the importance of a total rewards strategy in aligning compensation with business goals.

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    Final Compensation Ppt 2

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    This presentation discusses compensation and benefits. It begins by defining compensation and its objectives, like attracting and retaining talent. It then covers factors that influence compensation, different types of wages, and India's compensation structure. Key concepts discussed include total rewards, intrinsic and extrinsic rewards, and incentive plans. The presentation also outlines different types of employee benefits like health insurance, retirement plans, loans and leave. It closes by discussing challenges in implementing compensation plans and the importance of a total rewards strategy in aligning compensation with business goals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    480 views18 pages

    Final Compensation PPT 2

    Uploaded by

    parakhs
    This presentation discusses compensation and benefits. It begins by defining compensation and its objectives, like attracting and retaining talent. It then covers factors that influence compensation, different types of wages, and India's compensation structure. Key concepts discussed include total rewards, intrinsic and extrinsic rewards, and incentive plans. The presentation also outlines different types of employee benefits like health insurance, retirement plans, loans and leave. It closes by discussing challenges in implementing compensation plans and the importance of a total rewards strategy in aligning compensation with business goals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 18

    A PRESENTATION

    ON
    COMPENSATION & BENEFITS

    BY:
    NIKITA
    DHOOT
    NIKITA BUMB
    FLOW
     Meaning
     Objectives/Purpose
     Factors affecting compensation
     Types of wages
     Compensation Structure in India
     Important concepts
     Concept of rewards
     Employee Benefits
     Objectives of Employee Benefits
     Modern Concepts
    Meaning
     Compensation is a systematic approach to provide
    monetary as well as non monetary values to
    employees in exchange of the work performed in
    the organization.

     Total compensation =
    Direct + Indirect Compensation

    Base Pay Incentives Benefits


    Objectives
     Attract talent
     Retain talent
     Financial Management
     Legal requirements
     Workers participation
     Ensure equity
     Control cost
     Ease of operation
    Factors affecting compensation
    Compe
    nsation Demand for
    Labor & Supply of
    Unions labour

    Govern Ability
    ment to Pay

    Prevailing Cost of
    Wage rates Living

    Productivit
    Attraction
    y of
    & retention
    workers
    Types of wages

    Types of wages

    Minimum wage Fair Wage Living Wage


    Importance of an ideal
    Remuneration system
    Compensation Structure in
    India

    Employee Compensation

    Basic Dearness Bonus & Other Fringe benefits


    wage/salary Allowance incentives or perquites
    Devising a Compensation
    plan
    Important Concepts

    Executive
    Variable Compensation
    Compensation
    Total Rewards…
    “Anything of value used to
    attract, retain, or motivate
    workers”
    Concept of Rewards
     Related to Employment
     Intrinsic & Extrinsic rewards
     Financial & Non-financial rewards
     Incentives & Non monetary Incentives
    Types of Benefits
     Security:
    Unemployment
    compensation
    Life Insurance
    Disability Insurance
    Early Retirement Options
    Pension Plans

     Health
    Health-Care Insurance
    Free Centers & Gyms
    Medical Care
    Psychiatric Counseling
    Medical facilities to family
    Maternity Leave
    Cont…..
     Offerings  Financial
     Company car  Interest free loans
     Private cell phone,  Credit Cards
     Laptop usage  Tax Assistance
     Free lunch  Financial Counseling
     Cafeteria & rest rooms
     Child care
     Company accommodations
     Paid holiday
     Company transportation
     Company sponsored study
     Club memberships
    Why company offers
    benefits?
     Cost of living
     Reward employees
     Industrial relations
     Attract & Retain talent
     Special benefits
     Substitute for compensation
     Makes tension free
    Challenges of Remuneration
    Remunera
    tion
    Employee
    Participation

    Comparab Skill
    le Worth based Pay

    Pay Salary
    Secrecy Reviews
    Thank you
    Queries are welcome
    Global Total Rewards
    Strategy…..

    Organization TOTAL REWARDS


    Culture STRATEGY
    Compensation
    Benefits Employee Business
    Business Attract
    Strategy Work / Life
    Motivate
    Performance &
    Retain Satisfaction & Performance
    Recognition
    Human Engagement & Results
    Resources Development &
    Strategy Opportunities

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