human resource ppt

7/26/2019 Human Resource ppt

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Compensation

SystemsByAsim Alvi


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In FocusCompensation is total of all rewardsprovided to employees in return for theirservices. The overall purposes of providingcompensation are to attract , retain and

motivate employees

R. Wayne Mondy


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Objectives

Establish EquityIncrease work

ers efficiencyAvoid Conflicts

Legal CompliancesEffective Distribution of labour


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Prime ComponentsIn India

BasicSalary

Incentives

Bonus

Employee

Benefits

ProvidentFund

Overtime

Pay

Allowances


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Factors Influencing Ratio of Demand And Supply. Cost Of living

Comparative wages

Labour E!ien!y "overnment Regulations

Ability to bargain

#ype of Mar$et

Ability to pay Employment s$ills

%mage of Organisation


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CompensationAdministration

&Compensation Administration refers to t'epayment systems w'i!' determine employee wages

or salary( dire!t and indire!t rewards

% . )essler


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NatureIntegral partof HRM

Challenging

Function

DynamicDiscipline

Wide

Application

Strategic Tool


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Process

Job Analysis

Job Evaluation

DevelopingPay Structure

Wages AndSalary Survey

Job pricing

CompensationRevision AndControl


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Importance Aligns employees eforts with the aims and

objectives o the organization.

Helps to build positive image o theorganization in the society.

Eradication o bribery and thet.

Increases Employees commitment level andloyalty.

!overnment "ules ollow ups


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Theories Of WagesWages FundTheory

SubsistenceTheory

The Surplus

Value Theory

ResidualClaimantTheory

MarginalProductivity

Theory

BehaviouralTheories Of

wages


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Other Theories %nvestment #'eory

*argaining #'eory Of Wages + ,o'n Davidson-

#'e Contingent #'eory

Demand Supply t'eory Agen!y #'eory


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#'an$ /ou

human resource ppt

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