performance based compensation plan

8/6/2019 Performance Based Compensation Plan

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PERFORMANCE BASED

COMPENSATION PLAN

Presented by

Isha Anwar &

Madiha Yawar



COCA COLA COMPANY

Introduction

´ The Coca-Cola Company is a beverage retailer,

manufacturer and marketer of non-alcoholic beverage

concentrates and syrups.

´ The company is best known for its flagship product Coca-

Cola, invented by pharmacist John Stith Pemberton in

1886.

´ The Coca-Cola Company incorporated in 1892.

´ Coca-Cola currently offers more than 500 brands in over

200 countries or territories and serves over 1.6 billion

servings each day



VISION & MISSION

Vision

To become a market leader in ready to drink segment

while adding best-in-class value to all stakeholders.

Mission

Coca-Cola Pakistan exists to refresh the consumers,

inspire moments of optimism through our brands and

actions as well as benefit all stakeholders, which we

will do with highest social responsibility and with

uncompromising commitment towards quality of our

products and integrity in our operations.



V ALUES

Our Core Values underlie everything we do. We

live by them for two reasons; they are good and

right in themselves, worthy of adherence even at

the risk of loss of profit-making opportunities, and

they epitomize our Company¶s integrity, which we

believe will produce value for our stakeholders

over the long term.



BENEFITS AND REWARDS

From your career goals, to your personal goals, to

even your life outside of The Coca-Cola Company,

you¶ll have the resources, support and benefits to

accommodate life¶s essentials. Our goal is to

continue to be an employer of choice.



OUR COMMITMENT

Our people are our greatest assets. And bringing

out the best in them takes a dedication to

development. It¶s what grows our business, butmore importantly, it¶s essential to the growth of

your career. That¶s why we take a holistic view of

all the elements to reward and recognize

employees to ensure a complete, comprehensive

package of pay, benefits and learning and

development programs



BENEFITS STATEMENT

The Coca-Cola Company values the health and well-being of

our employees and provides a variety of market-competitive

benefits programs to address employees' benefits needs. Our

total benefits package is highly regarded and is designed to

meet employees' basic and life-changing benefits needs. As

market dynamics evolve, the Company regularly assesses our

benefits programs to ensure employees receive those benefits

they value and are provided with diverse options that address

the issues of individuals and families and promote healthy

lifestyles.



PERFORMANCE REVIEW

´ Performance reviews identifies employee¶s strengths and

weaknesses. This helps to further reinforce employees

strong points and also to work on their short comings.

´ Performance review makes an employee aware of his

performance. Furthermore this serves as a written record

for future use.

´ Managers can recommend further training or additional

opportunities for employees using this review.



PERFORMANCE REVIEW

´ Interaction between employees and managers is

done on daily basis to ensure desired performance.

´ A formal review is conducted once a year for each

employee. However, New employees may be

reviewed more frequently.

´ In the case of a promotion or change in duties or

responsibilities a review may also be conducted



PERFORMANCE EV ALUATION

Performance is evaluated on the basis of the following:

´ Quality of work

´ Productivity

´ Knowledge of job

´ Adaptability

´ Initiative

´ Dependability

´ Relationship with people

´ Leadership skills

´ Attendance and punctuality

´ Appraisal and development of people



BANDS DIST IBUTI N KS

AND BENEFITS

Managing

Director

Directors

Executives

LEVEL 1

General Managers

Managers

Line Mangers

Supervisors

Entery Level

Mangers

LEVEL 2

Level 3



PER S AND BENEFITS

´ Annual Incentive Plan

´ Backup Policy

´ Credit Card

´ Expense Reimbursement

´ Free Monthly Product

´ Gratuity

´

Group Life Coverage´ Hotel

´ House Rent Advance

´ Internal Job Posting

´ Leave

´ Medical - Hospitalization

´ Medical - Outpatient

´ Mobile Phone

´ Provident Fund

´ Relocation

´ Travel

´

Use of Rental/Personal Vehicle´ Vehicle Buy Back

´ Vehicle Fuel and Maintenance

´ Voluntary Haj Scheme



APPROACHES TO CONTINGENT PAY

Contingent pay is based on the performance competence or

contribution of people

There are three approaches

´ Performance related pay

´ Competence related pay

´ Contribution related pay



PERFORMANCE RELATED PAY

´ PRP assessed the performance of individuals

´ Features of PRP

´ Pay structure

´ Pay progression and performance

´ Decelerated progression



ADV ANTAGES AND DISADV ANTAGES

ADV ANTAGES

´ Organizational goals become a

priority´ Strengths and weaknesses of

employees can be figured out

´ Necessary training anddevelopment programs can bedeveloped

´ High retention´ Problem of over promoting is

removed

´ Productivity is increased

´ Motivation

´ Promotes healthy competition

DISADV ANTAGES

´ Lack of team work

´ Jealousy among colleagues

´ Lack of information sharing

´ De-motivated if they feel they

were hard done by the

system

´ De-motivated if goals are

unachievable



QUESTIONS

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