File Name: employee compensation and benefits .zip
Smart employers know that keeping quality employees requires providing the right compensation and benefits package. Compensation includes wages, salaries, bonuses and commission structures. Employers shouldn't ignore the benefits portion of employee compensation and benefits, because the benefits sweeten employment contracts with the priorities that most employees need.
Create an Account - Increase your productivity, customize your experience, and engage in information you care about. The City Council and staff firmly believe that our citizens have a right to full transparency with respect to public information, including the wages and benefits received by City employees and elected officials. To that end, salary range and benefit information has been available on the City's website for a number of years. In late , the City added a section conveniently located on the home page of our website, which provides links to these documents from a single location, as well as to the California State Controller's Office website, which displays compensation information for all cities and agencies in the state, including Rancho Palos Verdes. The purpose of the additional procedures established between the Compensation Subcommittee and the auditor was to determine the City's compliance with its policies and procedures for employee compensation and benefits, beginning with the City Manager.
We have done our level best to complete this paper in time and with the quality of our expectation. We are thankful to you for giving us this opportunity. We hope you would be kind enough to accept our report. We will be happy to provide further clarification regarding this report. We hope that our report will aid to make concrete decision and live up to your expectation.
He inspired us greatly to work in this term paper. His willingness to motivate us contributed tremendously to our work. We also would like to thank him for his valuable time by helping us for this term paper. Abdul Kader Nazmul, lifted us up when we were not sure we would or could ever get to the finish line.
Thank you for supporting us, for challenging us, for teaching us, but most of all, for believing in us. We honestly could not have done it without you and your help. Besides, we would like to thank the Singer Bangladesh Ltd. We are very thankful to them as they gave their precious time for us. Their cooperation really helps us to analyze and finalize this report. Finally, an honorable mention goes to our families and friends for their understandings and supports on us in completing this report.
Without helps of the particular that mentioned above, we would face many difficulties while doing this project. Companies want to attract, retain and motivate brains to meet objectives. Today Humans are regarded as one of every company's assets so they need to be efficiently and effectively managed. One of the tools companies use to attract, retain and motivate its people is Compensation Management.
Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. Employees today are not willing to work only for the cash alone, they expect 'extra'. This extra is known as employee benefits. Also known as fringe benefits, Employee benefits are nonfinancial form of compensation offered in addition to cash salary to enrich workers' lives. Human Resource is the most vital resource for any organization. It is responsible for each and every decision taken, each and every work done and each and every result.
They should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. The lucrative compensation will serve the need for attracting and retaining the best employees. So, Human Resource managers' task is to carefully design the organization's benefit package. They have to plan about what benefits should offer to whom and on which basis?
Definitely all the employees will not get the same benefit. A sales person and a receptionist will get different benefit but inadequate benefits do contribute to low satisfaction level and increase absenteeism and turnover in employees. Among all the employees of Singer Bangladesh Ltd.
Limitations of the Study1 Sometimes it will be difficult to find out the actual situation inside the company. That's why is may be hamper us to prepare a good report. If that will happen it may be hampering to prepare an accurate compensation system.
Company Profile History of SingerSinger is a well-established multinational firm with intense local recognition in consumer household durables.
Basically, it is a retail firm, which gains a prestigious position over time. In the year they start the marketing of the Color Television and in VCP was added to the range.
In , washing machine was introduced to the consumer for test marketing. VisionSinger wants to be the most admired and respected family company in the country.
Value StatementSinger will continue to treat their employees with respect, in recognition of their contributions, as they are the assets of the company. Singer will ensure that high standards and quality are maintained in everything they do.
Singer will continue to honor and maintain high ethical standards. Management PhilosophySinger's management philosophy is to work for the betterment of society. Types of Compensation Compensation as component of Human Recourses ManagementCompensation management consists of designing the lowest cost pay structure that will attract, retain, and motivate the competent employees and which is perceived as fair by the employee satisfaction.
Objectives of compensation managementThe following are the objectives of compensation management An ideal compensation system will have positive impact on the efficiency and results produced by employees.
It will encourage the employees to perform better and achieve the standards fixed. It will raise the morale, efficiency and cooperation among the workers. It being just and fair will provide satisfaction to the workers. The perfect compensation system provides platform for happy and satisfied workforce. This minimizes the labor turnover. The organization enjoys the stability.
The business organization can think of compensation and growth if it has the support of skillful, talented and happy workforce. The sound compensation system is hallmarks of organization success and prosperity. The success and stability of the organization is measured with pay-package it provides to its employees. Job EvaluationJob evaluation is one of essence of compensation administration and the establishment of pay structure. Job evaluation uses the information collected through ob analysis and systematically determines the value of each job in relation to all jobs within the organization.
Job evaluation seeks to rank all the jobs in the organization and place them in a hierarchy that will reflect the relative worth of each and determines the organization's pay structure. Job Evaluation MethodJob Evaluation Establishing pay structureOnce the job evaluation is completed, its data become the nucleus for the development of the organization's pay structure. This mean establishing pay rates or ranges that are compatible with the ranks, classifications or points arrived at through job evaluation.
The pay structure can be determined through following process: Wage surveyWage survey is the systematic gathering of factual information on pay practices from comparable firms within or outside the industry. The gathered information gives an idea of the standard market practices which are used to set the actual wage level. The data can be generated or the organization can collect the data through secondary source such as publications, research firms or organization can generate the data through primary source such as conduction their.
Wage curves Wage Structure Incentive Compensation PlanIn addition to the basic wage structure, organizations that are sincerely committed to developing a compensation system that is designed around performance will want to consider the use of incentive pay.
Incentive can be paid based on individual, group or organization wide performance. Individual IncentivesIndividual incentives plan pay off for individual performance.
Popular approaches include piecework plans, time-saving bonuses and commission. Under straight piecework plan, the employee is typically guaranteed a minimum hourly rate for meeting some pre established standard output.
For output over this standard, the employee earns so much for each piece produced. Individual incentives can be based on time saved as well as output generated.
As with piecework, the employee can expect a minimal guaranteed hourly rate, but in this case the bonus is achieved for doing a standard hour's work in less than sixty minutes. Employees who an hour's work in fifty minutes can do obtain a bonus that is some percentage of the labor saved. Sales personnel frequently work on commission basis.
In addition to low wage rate, they get an amount that represents a percentage of the sales price. Group IncentivesEach of individual incentive can also be used on a group basis. That is two or more employees can be paid for their combined performance. One problem with group incentives is that employees do not see them as being directly linked to their own behavior.
The pay of the employee under group incentives is influenced by the behavior of others with whom that employee works.
Organization wide incentivesThe goal of organization wide incentive is to direct the efforts of all employees toward achieving overall organizational effectiveness. This type of incentive produces rewards for all employees based on organizational wide cost reduction or profit sharing. Executive compensationExecutive compensation is significantly higher than the benefits given to the middle level managers and operational staff.
This is how executive of business corporations are paid which includes basic salary, bonuses, shares, options and other company benefits.
There are three components of executive compensation they are explained below: Executive SalaryTop managers are expected to demonstrate good decision making abilities. Eventually the supply of qualified senior executives is scare, and organizations have bid up the price for this talent.
They too must keep their salaries in line with the competition or potentially lose an executive to another organization.
High salary also acts to motivate both top executives and lower level managers. High pay encourages top level managers to perform well in order to keep their jobs.
Compensation and benefits refer to the benefits a firm provides to its employees in exchange for their labor. Compensation and benefits are thus a key part of Human Resource Management. In this article, we will provide you with a full guide about compensation and benefits. Contents What are compensation and benefits? Why are compensation and benefits important? Compensation and benefits and employee motivation How do HR Departments calculate compensation and benefits?
New to UC? Understand your eligibility for benefits. To learn all about your benefits choices and how to enroll, attend a UCPath webinar. UC is committed to providing competitive compensation and benefits for all UC employees. As a public institution, UC is also committed to being transparent about its compensation practices.
As you sit down to review the compensation package your company offers, one thing that stands out is that your compensation package no longer matches the core values of your organization. When your organization merged five years ago with a similar firm that specializes in online shoe retailing, your company had to hire hundreds of people to keep up with growth. As a result—and what happens with many companies—the compensation plans are not revised and revisited as they should be. The core values your company adopted from the merging company focused on customer service, freedom to work where employees felt they could be most productive, and continuing education of employees, whether or not the education was related to the organization.
The corporate mission of Name of the organisation is to be a world leader in line of business of organisation. The policy aims to provide a framework to create, modify and maintain appropriate compensation and benefits programs and processes with adequate supervision and control. The ability to attract, retain, reward and motivate talented individuals is critical for achieving our strategic goals and long term success.
Employee Benefits Compensation Salary Surveys. In addition to the articles on this current page, also see the following blogs that have posts related to Benefits and Compensation. Scan down the blog's page to see various posts. Also see the section "Recent Blog Posts" in the sidebar of the blog or click on "next" near the bottom of a post in the blog.
Она ждет уже целый час. Очевидно, Анонимная рассылка Америки не слишком торопится пересылать почту Северной Дакоты. Сьюзан тяжело вздохнула.
Смит поднял брови. - Выходит, выбор оружия был идеальным. Сьюзан смотрела, как Танкадо повалился на бок и, наконец, на спину. Он лежал, устремив глаза к небу и продолжая прижимать руку к груди.
А теперь - за работу. ГЛАВА 12 Дэвиду Беккеру приходилось бывать на похоронах и видеть мертвых, но на этот раз его глазам открылось нечто особенно действующее на нервы. Это не был тщательно загримированный покойник в обитом шелком гробу. Обнаженное тело, бесцеремонно брошенное на алюминиевый стол. Глаза, которые еще не приобрели отсутствующего безжизненного взгляда, закатились вверх и уставились в потолок с застывшим в них выражением ужаса и печали.
Не жалуюсь. Джабба вытер губы. - Ты на месте.
- А теперь, - продолжал он, перейдя на шепот, - чем я могу вам помочь. Беккер тоже понизил голос: - Мне нужно поговорить с одной из сопровождающих, которая, по-видимому, приглашена сегодня к вам на обед. Ее зовут Росио.
Именно так, черт возьми. Я был там, внизу. Резервное питание подает слишком мало фреона. - Спасибо за подсказку, - сказал Стратмор.
Вам нужно знать только одно: он будет найден. - Откуда такая уверенность. - Не я один его ищу. Американская разведка тоже идет по следу. Они, вполне естественно, хотят предотвратить распространение Цифровой крепости, поэтому послали на поиски ключа человека по имени Дэвид Беккер.
Сьюзан посмотрела на часы. Она ждет уже целый час. Очевидно, Анонимная рассылка Америки не слишком торопится пересылать почту Северной Дакоты.
Но за три дня до голосования в конгрессе, который наверняка бы дал добро новому стандарту. молодой программист из лаборатории Белл по имени Грег Хейл потряс мир, заявив, что нашел черный ход, глубоко запрятанный в этом алгоритме. Черный ход представлял собой несколько строк хитроумной программы, которые вставил в алгоритм коммандер Стратмор. Они были вмонтированы так хитро, что никто, кроме Грега Хейла, их не заметил, и практически означали, что любой код, созданный с помощью Попрыгунчика, может быть взломан секретным паролем, известным только АНБ.
Пройдя помещение шифровалки и зайдя в лабораторию систем безопасности, он сразу почувствовал что-то неладное. Компьютер, который постоянно отслеживал работу ТРАНСТЕКСТА, оказался выключен, вокруг не было ни души. - Эй! - крикнул Чатрукьян. Ответа не последовало.
- Джабба сунул в рот кусочек сыра моцарелла. - Кроме всего прочего, вирус просто не может проникнуть в ТРАНСТЕКСТ. Сквозь строй - лучший антивирусный фильтр из всех, что я придумал. Через эту сеть ни один комар не пролетит. Выдержав долгую паузу, Мидж шумно вздохнула.
- Идем, - сказала она, вставая. - Выясним, права ли. Бринкерхофф проследовал за Мидж в ее кабинет.
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