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A Presentation ON Compensation & Benefits: BY: Nikita Dhoot Nikita Bumb

This presentation discusses compensation and benefits. It begins by defining compensation as what employees receive in exchange for their contribution to an organization. It then discusses the objectives of compensation programs, factors that affect compensation, types of wages, and the compensation structure in India. The presentation also covers concepts like total rewards, intrinsic and extrinsic rewards, and the objectives of employee benefits. Finally, it addresses challenges in devising remuneration plans and the importance of a global total rewards strategy.

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Nikita Bumb
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55 views18 pages

A Presentation ON Compensation & Benefits: BY: Nikita Dhoot Nikita Bumb

This presentation discusses compensation and benefits. It begins by defining compensation as what employees receive in exchange for their contribution to an organization. It then discusses the objectives of compensation programs, factors that affect compensation, types of wages, and the compensation structure in India. The presentation also covers concepts like total rewards, intrinsic and extrinsic rewards, and the objectives of employee benefits. Finally, it addresses challenges in devising remuneration plans and the importance of a global total rewards strategy.

Uploaded by

Nikita Bumb
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

A PRESENTATION

ON
COMPENSATION & BENEFITS

BY:
NIKITA
DHOOT
NIKITA BUMB
FLOW
 Meaning
 Objectives/Purpose
 Factors affecting compensation
 Types of wages
 Compensation Structure in India
 2 concepts
 Concept of rewards
 Employee Benefits
 Objectives of Employee Benefits
 Modern Concepts
Meaning
 Compensation is what employees receive in
exchange for their contribution to 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
Unions of labour

Govern Ability
ment to Pay

Prevailing Cost of
Wage rates Living

Attraction Productivit
& 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

Bonus & Fringe


Basic Dearness
Other benefits or
wage/salary Allowance
incentives perquisites
Devising a remuneration 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
Why company offers
benefits?

 Cost of living
 Reward employees
 Industrial relations
 Attract & Retain talent
 Special benefits
 Substitute for compensation
 Makes tension free
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
Challenges of remuneration

Remunera
tion
Employee
Participation

Comparab Skill based


le Worth 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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