employee_compensation_and_benefits_management.pdf

Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd.

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Employee Compensation &

Benefits Management-A Study on Singer Bangladesh Ltd.


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Employee Compensation &Benefits Management:

A Study on Singer Bangladesh Ltd.

Prepared For:

Abdul Kader Nazmul

Assistant Professor

American International

University-Bangladesh (AIUB)

Prepared By:

Mohammad Azizul Haque Id: 10-94267-3 Sandra Heleny Sinthia Id: 11-94533-1 Md. Naimul Islam Id: 10-94001-2 S.M.Mustafizur Rahman Id: 10-94235-3

Section: A

Faculty of business Administration

American International

University-Bangladesh (AIUB)

Date of Submission: 4th December,2011


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Date: 4th

December,2011

To

Abdul Kader Nazmul

Assistant Professor

American International University-

Bangladesh (AIUB)

Subject: Submission of report on Employee Compensation & Benefits Management-A Study on Singer Bangladesh Ltd.

Dear Sir,

It is our great pleasure to submit the report on Employee Compensation & Benefits Management-A Study on Singer Bangladesh Ltd. This is a partial requirement of the course Human Resource Management. Despite of several limitations, we hope that the paper has attained its purpose to a considerable extent. We thank you for allowing us the opportunity to

do the report on this topic.

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.

Sincerely Yours,

.............................................

Mohammad Azizul Haque

Id: 10-94267-3

.............................................

Sandra Heleny Sinthia

Id: 11-94533-1

.............................................

Md. Naimul Islam

Id: 10-94001-2

.............................................

S. M. Mustafizur Rahman

Id: 11-94235-3


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Table of Contents

1.0. Introduction

1.1. Background of the Study 1.2. Rational of the Study 1.3. Objective of the Study 1.4. Methodology of the Study 1.5. Limitations of the Study

2.0. Company Profile

2.1. History of Singer 2.2. Mission, Vision, Value Statement & Management Philosophy 2.3. Board of directors 2.4. Product of Singer Bangladesh Ltd.

3.0. Compensation & Benefits Management Analysis

3.1. Compensation 3.2. Types of Compensation 3.3. Compensation as component of HRM 3.4. Job Evaluation 3.5. Job Evaluation Methods 3.6. Establishing pay structure 3.7. Board of directors 3.8. Establishing Compensation Plan 3.9. Executive Compensation

4.0. Compensation Management Practice at Singer Bangladesh Ltd.

4.1. Performance Based Evaluation measure 4.2. Compensation System of Singer. 4.3. Types of Compensation provided by singer 4.3.1. Direct Compensation Benefit provided by singer

4.3.2. Indirect Compensation Benefit provided by singer

5.0. Analysis & Interpretation of data

6.0. Problems & Recommendation

7.0. Conclusion

8.0. References


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Acknowledgement

First and foremost, we would like to thank to our course instructor of the Human

Recourse Management, Abdul Kader Nazmul, Assistant Professor, AIUB, for the

valuable guidance and advice. 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.

Mr.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.


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Introduction

1.1. Background of the Study

Human Resource Management (HRM) has never been as significant as it is today. Companies

want to attract, retain and motivate brains to meet objectives. Today Humans are regarded as

one of every companys 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 non-

financial 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 organizations 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.


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1.2. Rational of the Study

Employee Benefit & Compensation is an integral part of human resource management which

helps in motivating the employees and improving organizational effectiveness. An idle

compensation & Benefit management system will help an organization significantly boost the

performance of its employees and create a more engaged workforce thats willing to go the

extra mile for an organization. That is why we have decided to do our report on Employees

Benefit & Compensation management

1.3. Objective of the Study

Broad Objective:

To know about the Employee compensation & Benefit management system.

Specific Objective:

1. To know the compensation & Benefit management system of Singer Bangladesh Ltd.

2. To know the employee satisfaction level of Singer Bangladesh Ltd with the companys existing compensation & Benefit system.

3. To identify the problem of compensation & Benefit management system of Singer Bangladesh Ltd.

4. To provide the necessary recommendation about the compensation & Benefit package of Singer Bangladesh Ltd.

1.4. Methodology of the Study

Population and Sample: Among all the companies in Bangladesh one company

(Singer Bangladesh Ltd.) is selected as a sample for this study.

Among all the employees of Singer Bangladesh Ltd. 20 employees has been selected as

a respondents.

Sources of Data: Among primary and secondary source of data most of the data has

been collected from the primary source-Face to face conversation with the manager and

the officials.

Analysis: In the analysis part tabular and graphical analysis has been done using MS-

Excel.


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1.5. Limitations of the Study

1) Sometimes it will be difficult to find out the actual situation inside the company.

2) Employees may not be provided proper information about compensation system of the

organization.

3) The topic is actually a confidential matter for some company. Thats why is may be

hamper us to prepare a good report.

4) Sometimes companies dont want to disclose their internal operations. If that will

happen it may be hampering to prepare an accurate compensation system.


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Company Profile

2.1. History of Singer

Singer 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.

Mr. Isaac Merrit Singer in the New York city of U.S established it in 1851 with the innovation

of the first practical sewing machine of the world. After that, observing the world wide demand

Singer established its first overseas manufacturing unit in 1867 in England for reaching its

increasing potential market. In 1885, Singer originated the higher purchase plan similar to the

installment of time payment purchase plan for the less solvent housewives.

Singer began its operation in this part (present Bangladesh) of the world in the early twentieth

century during British India establishing 3 showrooms. By the time of the separation there

were 23 showrooms. Now the company has 78 showrooms and about 96 exclusive agents all

over the country. In around 1979, the company floated its share and became a public limited

company. All through this time Singer was operating with only one product that is their sewing

machine. In 1984 it enhanced its product range by introducing their Refrigerator to the

industry.

In the year 1991 they start the marketing of the Color Television and in 1994 VCP was added

to the range. In 1995, washing machine was introduced to the consumer for test marketing.

With the success of this, the management decided to set up the Washing Machine Assembly

Factory at Dhaka, which started production from February 1996. With Washing Machine in the

Singer Electronics Complex at Jhamur, Savar, Dhaka, Singer also assembles Color Television

Black & White Television and Motor Cycle the assembly unit of which was established in

2001 and went into commercial production from 13 February 2002.


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2.2. Mission, Vision, Value Statement & Management Philosophy

Mission

Singers delegation is to improve the quality of life of people by providing comforts, and

conveniences at an affordable price.

Vision

Singer wants to be the most admired and respected family company in the country.

Value Statement

Singer 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 Philosophy

Singers management philosophy is to work for the betterment of society.


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2.3. Board of Directors

Chairman and Managing Director

Mahbub Jamil

Directors Corporate Office

Stephen H. Goodman 5B, Road No.126

Jim Kelly Gulshan-1, Dhaka-1212

Akhtar Imam

C.K. Hyder Singer Electronics Complex

Tobias Brown Jhamur,Savar

A. M. Hamim Rahmtullah Dhaka-1340,Banglades

Company Secretary

Mohd. Sanaullah

Auditors

S.F. Ahmed & Co.

Chartered Accountants

Bankers

Dhaka Bank Ltd.

Eastern Bank Ltd.

Legal Advisor

A. Imam and Associates

Barristers and Advocates

Registered Office

39 Dilkusha Commercial Area

Dhaka-1000, Bangladesh


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2.4. Product of Singer Bangladesh Ltd.

SINGER SEWING MACHINE

SINGER REFRIGERATOR

SINGER TELEVISION (Color, black & white)

SINGER WASHING MACHINE

SINGER AIR CONDITIONER

SINGER AUDIO SYSTEM (Radio, player, recorder)

SINGER FAN

SINGER OVEN

SINGER IRON

SINGER BLENDER

SINGER MOTORCYCLE

SINGER IPS

SINGER Dish Washer

SINGER Vacuum Cleaner

Singer Instant Power Supply


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Compensation & Benefits Management Analysis

3.1. Compensation

Employees need to be compensated for Their Efforts based on volume of predication.

Compensation refers to all forms of financial rewards received by employees. It arises from

their employment. It occupies an important place in the life of the employee. It is a

considerable cost to the employer. Compensation dissatisfaction can lead to absenteeism,

turnover, job dissatisfaction, low performance, strikes and grievances. Majority of labor

management disputes relate to compensation.

Compensation refers to the extrinsic that employees receive in exchange for their work. It is

composed of the base wage or salary and incentives or bonuses and benefit.

Compensation is a key factor in attracting and keeping the best employees and ensuring that

the organization has the competitive edge in an increasingly competitive world. The

Compensation Management component enables to differentiate between the remuneration

strategies and those of competitors while still allowing flexibility, control and cost

effectiveness. It provides a toolset for strategic remuneration planning that reflects the

organization culture and pay strategies, and it empowers line managers within a framework of

flexible budget control. Compensation management allow to control bottom line

expenditures and competitive and motivating remuneration , be it fixed pay, variable pay, stock

options, merit increases, or promotion- in other words, total compensation.


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3.2. Types of Compensation

Compensation

Direct Indirect

Pay Incentives Benefits Services

Base Pay Merit Pay

Figure: Types of Compensation

Direct Compensation is remuneration provided to employ in exchange for their labor and

services. What makes it direct is that it is given to the employee without an intermediary.

Under direct compensation.

Pay: It consists of wages and salaries received for performance work. It can be base

pay and merit pay based on job performance.

Incentives: They are provided for the employees benefit, but is not given directly to

the employee. Under indirect compensation there are two performing work. It con be

piece wage, commission, bonus, profit sharing, stock option etc.

Indirect compensations are provided for the employees benefit but is not given directly to the

employee. Under direct compensation there are two types of compensation:

Benefits are the payments addition to pay. They can be

1. Pay for time not worked: paid vacation, holidays, leaves

2. Protection Programs: Pension, Gratuity, Insurance etc

3. Executives Benefit: Free Newspapers, telephone etc


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Service and Perquisites: They increase employees wellbeing at on cost or

significantly reduced cost to employees. They can be

1. Housing, transport, food

2. Loans Childrens, education expenses

3. Discount on purchases, credit cards

4. Social-culture recreational activities; club subscriptions.

3.3. Compensation as component of Human Recourses Management

Compensation 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.

3.3.1. Objectives of compensation management

The following are the objectives of compensation management:

1. 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.

2. It will raise the morale, efficiency and cooperation among the workers. It being just and

fair will provide satisfaction to the workers.

3. Sound compensation/ Rewards system bring peace in the relationship of employer and

employees, collective bargaining generally focus on compensation issues

4. The perfect compensation system provides platform for happy and satisfied workforce.

This minimizes the labor turnover. The organization enjoys the stability.

5. The business organization can think of compensation and growth if it has the support of

skillful, talented and happy workforce.

6. The sound compensation system is hallmarks of organization success and prosperity.

7. The success and stability of the organization is measured with pay-package it provides

to its employees.


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3.4. Job Evaluation

Job 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 organizations pay structure.

3.5. Job Evaluation Method

Job Evaluation

Analytical Non Analytical

Point Factor Ranking Classification

Comparison

Figure: Job Evaluation Method

3.6. Establishing pay structure

Once the job evaluation is completed, its data become the nucleus for the development of the

organizations 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:

3.6.1. Wage survey

Wage 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.


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3.6.2. Wage curves

3.6.3. Wage Structure

3.7. Incentive Compensation Plan

In 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.

3.7.1. Individual Incentives

Individual 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 hours work in less than sixty minutes. Employees who

an hours 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.

3.7.2. Group Incentives

Each 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.


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3.7.3. Organization wide incentives

The 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.

3.8. Executive compensation

Executive 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:

3.8.1. Executive Salary

Top 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. But high pay also acts to stimulate lower level managers to work hard so that

they can someday move up the ladder to the big money.

3.8.2. Supplement Financial Compensation

Financial incentives like bonuses or stock option plans are the exception among rank and file

workers, but it is the rare senile business executive whose compensation does not include such

incentives. The executive is bonus is computed on the basis of some formula, usually taking

into account increases in sales and profits. This bonus although earned in the current period is

distributed over several future periods. The major purpose of such deferred compensation is to

increase the cost to the executive of leaving the organization. Similarly stock options have been

a common incentive offered to executives. They generally allow executives to purchase, at

sometime in the future, a specific amount of the companys profitability and, therefore the

price of the stock; Stock options are viewed as performance based incentives.


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3.8.3. Supplement Non Financial Compensation

Executives are frequently offered benefits of perquisites not offered to other employees. These

benefits includes such as medical insurance, life insurance, interest free loan, club membership,

vehicles/fuels, quarters, supplemental retirement accounts etc.


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Compensation Management Practice at Singer Bangladesh Ltd.

4.1. Performance Based Evaluation Measure:

Singer always tries to give the better service to their customers. As for this they tries to find out

the best employees compare with their rival companies. The HRD of singer not only provide

training to the employees but also goes for measurement of the performance before and after

training. HRD goes for two types of methods:

a) Post-training performance method

b) Pre-post training performance method

According to the post-training performance method HRD evaluate the training programs based

on how well employees can perform their job in the position Singer provides to after training.

Under pre-post training performance method HRD of Singer evaluate the training programs

based on the difference in performance before and after training.

4.1.1. Critical Compensation decision:

While compensate the employees, HRD of Singer Bangladesh make some critical decision. HRD tries to find out the four policies that match with the employees current performance

based on the decision they have made before.


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The four policies are:

Figure: Four Basic Policies

Consistency:

HRD recommend or choose to compensate the employees performing according to the

company's standard of performance level. But Singer also ensures that the performance of the

employee should maintain the consistency of performing well and up to the standard. It means,

the person who will be compensated, have to maintain and each time increase the standard of

performance level Singer wants from its employees in order to meet the company needs.

Contribution:

HRD recommend those employees who are fully contributed for the company. Anyone who

works only for to work is not countable at all for the compensation.

Consistency

Competitive

ness

Administration

Contribution


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Competitiveness:

Employees who have the mentality to reach the competitive advantage levels with the company

automatically are going to be selected by the HRD of Singer. It means employee who has the

ability to accept and adapt the change and also has the ability to compete effectively and efficiently with competitors are always motivated by giving proper compensation.

Administration:

Employees who follows the rules and regulations of Singer Bangladesh gets the additional support BY the HRD of Singer, when compensate the employees.

4.2. Compensation Systems

It is a big issue to compensate the employees because each and every employee has some extra

capabilities which make him/her different from the other employees as well as reducing the lacking that make him/her away from the race of reward system.

For making a fair compensation system, HRD of Singer follows some factors of the

employees. Those are:

1) Mental efforts____ intelligence, memory, verbal expression, specialized

Knowledge, communications.

2) Physical efforts___ height, weight, strength, working hours

3) Skills ___________ experience, training, education, ability to perform the

given task

4) Responsibilities____ how much the employee responsible to perform the

job, how willful he/she is?

All this above factors are considered while the HRD are going to compensate any employees.

His past (if has) and present records of the works are evaluated for making a fair compensation

packages.


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4.3. Types of Compensation provided by Singer Bangladesh Ltd

HRD of Singer Bangladesh provides both direct and indirect compensation to their employees.

HRD tries to match with the environment of the current situation and the needs of the

employees. Cluster with all that HRD gets the decision whether they give direct or indirect

compensation benefit.

4.3.1. Direct compensation

Direct compensation that Singer usually provide to their employees consist of:

Merit pay

Spouses Income Continuation

Direct Compensation Benefits Gain sharing

Profit sharing

a) Merit pay: If some times any employee did any unexpected work which can not be

possible for other employees and to did that should have some additional knowledge on

that cases HRD of Singer give direct financial support to that employee to motivate

both that employees and all others of the company.

b) Spouse income continuation: If any uncertainties arise that a employee of Singer can not able to work due to his disable situation most of the cases Singer tries to stand

beside the family of that employee.

c) Gain sharing: When a group of people did any thing extremely well and make a huge

financial profit some times Singer gives some percentage from that profit equally to each and every members of the group. By doing this employees are being motivated to

work as a team to gain the competitive advantage.


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d) Profit sharing: Basically it is not happen regularly and if it so than only the

percentage of the profit is distributed to the top level management Officers.

4.3.2. Indirect Compensation benefits:

Singer not only gives the direct compensation but also compensate their employees indirectly.

Company gives so many facilities for the employees to become a friendly relation with the

management and the employees.

Indirect compensation consists of:

Protection programs

Services and prerequisites

Others (Vacation, Holiday, Sick leave)

Protection programs: HRD of Singer provides protection programs like Medical Insurance,

Life Insurance, Social Security etc.

Services and prerequisites: Services that Singer gives to the employees are recreational

facilities, car facilities according to the designation etc.

Others: Employees of Singer enjoy holiday facilities, sick leave, vacation etc.

Rewards System

Singer is very much concern about the reward system of the employees. Because all the time

Singer believes that no more Singer in the world would exist if each and every single employee

are not satisfied while doing their job in the company. Singer always try to give some rewards which will cheer up the employees and makes them more attract on their own field. Basically

singer gives two types of rewards towards the employees.

1) Intrinsic reward

2) Extrinsic reward

Under intrinsic reward employees are not allowed to enjoy financial benefits from the

company. For top level or upper mid level employees can go for a) decision making


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( while unexpected situation arises) b) personal development by getting training without any

expense c) job freedom.

Under extrinsic reward employees get financial rewards. But some times they have the chance

to get some additional benefits by the company. In a diagram extrinsic rewards are given below

Preferred office furniture

Assigned parking space

Business cards

Extrinsic Reward

Financial

Support

Non-Financial

Support


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Analysis & Interpretation of data

1. Human resource management department is very active in this organization.

Table: 1

Graph: 1

Explanation: The above table and graph represents that 65% employees are agree with that the

HR department of this organization is active, 10% employees have no comments about it and

remaining 25% employees are not satisfied with the activity of HR.

The HR department of Singer Bangladesh Ltd. is active but still it needs to make some

improvement in HR activities.

Description Respondents Percentage

Strongly agree 7 35%

Agree 6 30%

Not sure 2 10%

Disagree 3 15%

Strongly disagree 2 10%

Total 20 100%

0

1

2

3

4

5

6

7

8

S trongly

agree

Agree Not s ure Dis agree S trongly

dis agree

S eries 1


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2. The top management communication system with the subordinates is not satisfactory.

Table: 2

Graph: 2

Explanation: 45% of the total respondents are not satisfied with the communication system of

Singer, 35% are satisfied and 20% have no comments about it. These data represent has the

Singer has a communication gap between the managers and employees.

The communication system at singer is not effective.



Agree 4 20%

Not sure 4 20%

Disagree 4 20%


Total 20 100%

0

1

2

3

4

5

6

S trongly

agree


dis agree

Nu

mb

er o

f R

esp

on

den

ts

S eries 1


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3. The Management allows you to make decisions.

Explanation: 55% of the total respondents said that they are allowed by the management to

make decision, 10% are not sure and remaining 35% are not involved in making decisions.



Agree 5 25%

Not sure 2 10%

Disagree 3 15%


Total 20 100%

0

1

2

3

4

5

6

7

S trongly

agree


dis agree

Nu

mb

er o

f R

esp

on

den

ts

S eries 1


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4. Singer has a strong job evaluation system.

Explanation: Among the total respondents 55% respondents are not satisfied and 45%

respondents are satisfied with the job evaluation system of singer. It represents the job

evaluation system of Singer Bangladesh Ltd. is not strong.



Agree 8 40%

Not sure 1 5%

Disagree 6 30%


Total 20 100%

Strongly

agree

20%

Agree

25%

Disagree

25%

Strongly

disagree

30%

Not sure

0%

Strongly agree

Agree

Not sure

Disagree

Strongly disagree


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5. Result of job evaluation has a great impact on job progress or job retention.

Explanation: Among 20 respondents 50% respondents states that the job evaluation has a

great impact on job progress, 15% respondents does not make any comments and 35%

respondents are not agree with that job evaluation has a great impact on job progress. So it can

be say that the job evaluation system at Singer Bangladesh Ltd should be improve.



Agree 8 40%

Not sure 3 15%

Disagree 5 25%


Total 20 100%

0

1

2

3

4

5

6

7

8

9

S trongly

agree

A gree Not s ure Dis agree S trongly

dis agree

S eries 1


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6. The current compensation system of singer is satisfactory.

Explanation: 40% respondents are satisfied, 55% respondents are not satisfied and 5%

respondents do not make any comments about the Compensation system of Singer.

So, the Compensation system of Singer is not satisfactory.



Agree 3 15%

Not sure 1 5%

Disagree 6 30%


Total 20 100%

0

1

2

3

4

5

6

7

S trongly

agree


dis agree

S eries 1


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7. Employees have a positive reaction about the compensation system of Singer.

Explanation: 30% respondents believe that the Employees have a positive reaction about the

compensation system of Singer, 55% respondents believe that employees have a negative

reaction about the compensation system of Singer and 15% respondents do not make any

comments.

The above data represent that the employees of singer are not satisfied with the existing

compensation system.



Agree 2 10%

Not sure 3 15%

Disagree 7 35%


Total 20 100%

0

1

2

3

4

5

6

7

8

S trongly

agree


dis agree

S eries 1


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9. The compensation objective of Singer is to motivate the employees?

Explanation: Among the total respondents 30% are agree with the above statement, 30% are

disagree and strongly disagree and 40% are do not know about it.



Agree 3 15%

Not sure 8 40%

Disagree 4 20%


Total 20 100%

0

1

2

3

4

5

6

7

8

9

S trongly

agree


dis agree

S eries 1


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10. The Singer should change and add something new in its compensation system.

Explanation: Among the total number of respondents 85% think that the singer should change

the compensation system. Only 5% respondents think that it should not be changed and 10%

do no make any comments about it.



Agree 7 35%

Not sure 2 10%

Disagree 1 5%


Total 20 100%

0

2

4

6

8

10

12

S trongly

agree


dis agree

S eries 1


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11. The Singer Bangladesh Ltd. Offer salary increment depending on the inflation

rate.

12. The compensation system of this company is sufficient to keep you from looking

From another job

13. Is there any opportunity to move to higher salaried position at this company?

14. The leave policy of this organization is satisfactory?

15. Singer has a good environment to work.

16. Any Other Comments:

employee_compensation_and_benefits_management.pdf

Documents

compensation system

types of compensation

compensation plan

executive compensation

product of singer bangladesh

history of singer

indirect compensation

submission of report