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Certification on Human Resource Professional (CHRP), AtmaJaya University Jakarta, 2006
Direct Compensation, IndirectCompensation, and Deferred
Compensation
Modul 12
CERTIFIED HUMAN RESOURCESPROFESSIONAL (CHRP)
By: Ones Lebang
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OBJECTIVESOBJECTIVES
By the conclusion of this Module, you willBy the conclusion of this Module, you willbe able to accomplish the following:be able to accomplish the following:
Differentiate Direct Compensation fromDifferentiate Direct Compensation fromIndirect and Deferred Compensation.Indirect and Deferred Compensation.
Define the concept and components ofDirect Compensation as applicable in acertain organization.
Identify the purposes of each componentof Direct Compensation as applicable in acertain organization
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Deferred Compensation/Benefits
Total Compensation looks at all the cash programs, all the non-cash programs, and all the
deferred compensation and benefit programs offered by an organization to its employees.
ELEMENTS OF TOTAL COMPENSATION
COMPANY XYZ
- Severance Pay
Defined Benefits)
- Monthly Pension (Defined
Contribution)
- Old Age Benefit- Coy Tax on Severance
Pay
- Medical Coverage
- HOP Loan
- VPA
- Educational Loan
- Natural Death Benefit
- Long Term Disability-Industrial Death Benefit
- JK/JKK (XXVI.B)
-Salary Continuation
- Paid Vacations/Holidays
- Coy Tax
Indirect Compensation
- Base Salary
-Regional Allowance
- Temporary Monetary
Assistance (MAC)
- Overtime Pay
- Excess Working Hours
- Shift Allowance
- Onshore Allow-Offshore Allow
-Leave Allowance
- THRK
- Vacation Travel Allowance
- AIP
- Coy Tax
Direct Compensation
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KOMPONEN UPAHKOMPONEN UPAH
DEFINITIONS :DEFINITIONS :
Upah adalah hak pekerja/buruh yang diterima
dan dinyatakan dalam bentuk uang sebagaiimbalan dari pengusaha atau pemberi kerjakepada pekerja/buruh yang ditetapkan dan
dibayarkan menurut suatu perjanjian kerja,kesepakatan, atau peraturan perundang-undangan, termasuk tunjangan bagi
pekerja/buruh atas suatu pekerjaan dan/ataujasa yang telah atau akan dilakukan.
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KOMPONEN UPAHKOMPONEN UPAH
DEFINITIONS :DEFINITIONS :
UpahPokokadalah imbalan dasar yang
dibayarkan kepada pekerja menurut tingkatatau jenis pekerjaan yang besarnya ditetapkan
berdasarkan kesepakatan
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KOMPONEN UPAHKOMPONEN UPAH
DEFINITIONS :DEFINITIONS : UpahPokokadalah imbalan dasar yang
dibayarkan kepada pekerja menurut tingkat
atau jenis pekerjaan yang besarnya ditetapkanberdasarkan kesepakatan
Tunjangan Tetap adalah suatu pembayaranyang teratur berkaitan dengan pekerjaan yang
diberikan secara tetap untuk pekerja dan
keluarganya serta dibayarkan dalam satuanwaktu yang sama dengan pembayaran upah
pokok, seperti tunjangan istri, anak,
perumahan, transport, dll.
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KOMPONEN UPAHKOMPONEN UPAH
DEFINITIONS :DEFINITIONS :
Tunjangan Tidak Tetap adalah suatu
pembayaran yang secara langsung atau tidaklangsung berkaitan dengan pekerja, yang
diberikan secara tidak tetap untuk pekerja dan
keluarganya serta dibayarkan menurut satuanwaktu yang tidak sama dengan waktu
pembayaran upah pokok, seperti tunjangan
transport dan makan yang didasarkan pada
kehadiran.
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KOMPONEN NON UPAHKOMPONEN NON UPAH
DEFINITIONS :DEFINITIONS :
Fasilitas adalah kenikmatan dalam bentuk
nyata/natura yang diberikan perusahaan olehkarena hal-hal yang bersifat khusus atau
meningkatkan kesejahtraan pekerja, seperti
fasilitas kendaraan, pemberian makan cuma-cuma, sarana ibadah, tempat penitipan bayi,
koperasi, kantin, dll.
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KOMPONEN NON UPAHKOMPONEN NON UPAH
DEFINITIONS :DEFINITIONS :
Bonus adalah pembayaran yang diterima
pekerja dari hasil keuntungan perusahaan ataukarena pekerja menghasilkan hasil kerja lebih
besar dari target produksi yang normal atau
karena peningkatan produktifitas, besarnyapembagian bonus diatur berdasarkan
kesepakatan.
THRK, Gratifitasi dan pembagian
Keuntungan lainnya
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KOMPONEN UPAHKOMPONEN UPAH
DEFINITIONS :DEFINITIONS :
Kesejahteraan (benefit) suatu pemenuhan
kebutuhan dan/atau keperluan yang bersifatjasmaniah dan rohaniah, baik didalam maupun
diluar hubungan kerja, yang secara langsung
dan tidak langsung dapat mempertinggiproduktifitas kerja dalam lingkungan kerja yang
aman dan sehat.
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Prinsip-prinsip Pengupahan
(PP No. 8 tahun 1981 tentang Perlindungan Upah)
Adanya Hubungan Kerja
Tidak boleh mengadakan diskriminasi
No work no pay
Leave with pay Waktu pembayaran sesuai yang
diperjanjikan
Dibayar dalam bentuk uang, sebagian(max. 25%) dapat dalam bentuk lain
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Prinsip-prinsip Pengupahan
(PP No. 8 tahun 1981 tentang Perlindungan Upah)
Pembayaran dengan alat pembayaran yang
sah
Pemotongan untuk pihak ketiga harus dengan
surat kuasa Pemotongan untuk jaminan utang maksimum
20% sebulan
Tuntutan upah menjadi daluwarsa setelah 2tahun
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BASE PAY
What is Base Pay?
The amount of money you receive on anhourly, monthly, or annual basis that is . .
Based on the value of your job-related skills andexperience compared to the market; and,
Tied to individual performance and contribution
relative to others.
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BASE PAY (continued)
Objectives of Base Pay:
Base Pay is intended to:
Provide a fundamental level of reward based on how
the position compares externally (vs. market) and
internally (vs. other roles in a company).
Reward performance and contribution over time.
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BASE PAY (continued)
How Base Pay is Determined
The value of the job in the market.
By position
By geography
Comparison with salary structure.
Salary Grades and Ranges
Individual performance and contributionrelative to others.
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EQUITY AND BASE PAY
SYSTEMS
O = OutcomesI = Inputs
S= Self
O= Relevant Others
S O
S O
O O
I I=
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BEHAVIORAL THEORIES
Equity TheoryEquity Theory
1. If ratios are equal, satisfied
2. If employees ratio is greater than
others, over-rewarded
3. If employees ratio is less thanothers, under-rewarded and
dissatisfied
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The Pay Model
Strategic Issues Techniques Strategic Objectives
CONSISTENCY
COMPETITIVESNES
CONTRIBUTORS
ADMINISTRATION
Work
analysisDescriptions Evaluation
certification
INTERNAL
STRUCTURE
Market
definitionsSurveys Policy
lines
PAY
STRUCTURE
Seniority
based
Performance
based
Merit
guidelinesINCENTIVE
PROGRAMS
Planning Budgeting Communi
cation EVALUATION
EFFICIENCY
EQUITY
COMPLIANCE
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INTERNAL EQUITYDifferent job, same
organization
Job Analysis
Job Descriptions Job Evaluation
Salary Structures
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EXTERNAL EQUITYSame job, different
organization
Salary Surveys
Benefit Surveys Market Pricing
Other Benchmarking
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INDIVIDUAL EQUITYSame job, same
organization, differentincumbent
Performance
Effort Seniority
Legitimate (and not so
legitimate) individual
differences
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PROCESS EQUITYProcedural justice
Fairness of process
Communication
Participation Appeals
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COMPENSATION STRATEGY
AND YOUR ORGANIZATION
What compensation strategy is implicit in
your Base Pay program?
How does it support organizational strategy?
Could it do better?
Is it aligned with other compensation
programs?
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Transportation AllowanceTransportation Allowance --
General IndustryGeneral Industry
Transportation Allowance in Rp000 Per month
Employee Category Min LQ Med. UQ Max Avg.
Top Management* 151 - - - 1,000 575
Management 140 220 575 750 1,000 554
Officer/Spv. 140 220 300 400 750 358
Clerical 100 136 222 300 600 249Non-clerical 50 100 121 167 300 142
Source : Watson Wyatt Total Remuneration Survey 2002
*: Due to insufficient data, we only provide the Minimum, Maximum and Average information
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ALLOWANCES (CONTINUED) Labor Law No. 13. Article 94:
In the event the wage components consist of Base
Salary and Fixed Allowances, the magnitude of theBase Salary is at the minimum 75% (seventy fivepercent) of the sum of the Base Salary and FixedAllowances.
Example: Base Salary: Rp. 5,000,000.-
Housing Allow: Rp. 1500,000.-Transport Allow: Rp. 1,000,000.-
Is the above in compliance with the LaborLaw?
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ANSWER
PROPORTION OF BASE PAY TO FIXED ALLOWANCES
67%
20%
13%
BASE
HOUSING
TRANSPORT