Professional Documents
Culture Documents
HRM
HRM
EVOLUTION OF HUMAN RESOURCE
DEPARTMENT
In 1973, Millat Tractors Limited was nationalized and started
its operation under Ministry of Production
In 1992, Millat Tractors was denationalized and was purchased by
its own employees
Salary Packages
Compensation Packages
Retirement Funds
Appraisals
REWARDING
Direct Compensation
basic pay, house rent etc
BASIC PAY
Category Designation Pay in Rs. %age
Increase
Workers Workers / 4000 --
Supervisors 9000 25%
Manager
mnager
House Rent
45% of their basic pay.
Indirect Compensation
Millat Tractors offers very attractive incentives as
indirect compensation to its employees and they
are:
Transportation
Gratuity
10% of each employee’s basic salary goes to this
fund every month by the company each month
Benevolent Fund
10 Years
1 salary each year
12 Years
1.5 salaries each year
15 Years
2 salaries each year
25 years of service
Entertainment
10% of their basic salary each month to entertain
their guests in the company
Self Development
Provide opportunity for further study by sponsoring
them
Bonus
2.9% of total profitability
Disable Fund
All employees contribute small portion of their salary
each month in this fund.
Hajj
10 employees each year from Hajj
3 people from executives and 7 from workers
ORIENTATION AND TRAINING
Sick Leaves (14 days side leave is allowed to executives and
10 days to workers )
Punctuality
Pilferage
Safety measures
LABOUR ISSUES, PROBLEMS &
POLICIES
HUMAN RESOURCE
DEPARTMENT PERFORMANCE
INDICATORS
TURNOVER RATE