A PRESENTATION

ON
COMPENSATION & BENEFITS

BY:
NIKITA
DHOOT
NIKITA BUMB
 FLOW
 Meaning
 Objectives/Purpose
 Factors affecting compensation
 Types of wages
 Compensation Structure in India
 2 concepts
 Concept of rewards
 Employee Benefits
 Objectives of Employee Benefits
 Modern Concepts
 Meaning
 Compensation is what employees receive in
exchange for their contribution to the
organization.
 Total compensation =

Direct + Indirect Compensation

Base Pay Incentives Benefits

 Objectives
 Attract talent
 Retain talent
 Financial Management
 Legal requirements
 Workers participation
 Ensure equity
 Control cost
 Ease of operation
Factors affecting compensation

Compe
nsation Demand for
Labor & Supply
Unions of labour

Govern Ability
ment to Pay

Prevailing Cost of
Wage rates Living

Attraction Productivit
& y of
retention workers
Types of wages

Types of wages

Minimum wage Fair Wage Living Wage

Importance of an ideal
Remuneration system
Compensation Structure in India

Employee Compensation

Bonus & Fringe

Basic Dearness
Other benefits or
wage/salary Allowance
incentives perquisites
Devising a remuneration plan
Important Concepts

Executive
Variable Compensation
Compensation
 Total Rewards…
“Anything of value used to
attract, retain, or motivate
workers”
 Concept of Rewards

 Related to Employment
 Intrinsic & Extrinsic rewards
 Financial & Non-financial rewards
 Incentives & non monetary Incentives
 Why company offers
benefits?

 Cost of living
 Reward employees
 Industrial relations
 Attract & Retain talent
 Special benefits
 Substitute for compensation
 Makes tension free
 Types of Benefits
 Security:
Unemployment
compensation
Life Insurance
Disability Insurance
Early Retirement Options
Pension Plans

 Health
Health-Care Insurance
Free Centers & Gyms
Medical Care
Psychiatric Counseling
Medical facilities to family
Maternity Leave
Cont…..

 Offerings  Financial
 Company car  Interest free loans
 Private cell phone,  Credit Cards
 Laptop usage  Tax Assistance
 Free lunch  Financial Counseling
 Cafeteria & rest rooms
 Child care
 Company accommodations
 Paid holiday
 Company transportation
 Company sponsored study
 Club memberships
Challenges of remuneration

Remunera
tion
Employee
Participation

Comparab Skill based

le Worth Pay

Pay Salary
Secrecy Reviews
Thank you
Queries are welcome
 Global Total Rewards
Strategy…..

Organization TOTAL REWARDS

Culture STRATEGY
Compensation
Benefits Employee Business
Business Attract
Strategy Work / Life
Motivate
Performance &
Retain Satisfaction & Performance
Recognition
Human Engagement & Results
Resources Development &
Strategy Opportunities