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“Workers compensation issues – scope, causes and solution” “HUMAN RESOURCE” APPROVAL STATUS

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Submitted To: Ms. Megha Sharma Assistant Professor

Submitted By: Miss. NIKITA GARG 2nd Year 1142570036

DEPARTMENT OF MANAGEMENT STUDIES MEERUT INTERNATIONAL INSTITUTE OF TECHNOLOGY, MEERUT GHAT ROAD, NEAR SUBHARTI MEDICAL COLLEGE, NH-58, MEERUT

their human resources. There is a fundamental truth in the clinch that “people are an organizations most important asset” Compensation Management is an integral part of the management of the organization.ABSTRACT This research report is the result completed for the partial fulfillment of the MBA Program My project contains a comprehensive discussion on one of the major function of an HR Manager and that is Compensation Management. job performance. the business needs. We want to maintain pay levels that attract and retain quality employees while recognizing the need to manage payroll costs. Like any other material on economic resources they represent an investment whose development and utilization require managing. It may achieve several purposes assisting in recruitment. To be effective. . and available resources. Human beings are a resource to an organization. and job satisfaction. It is an organized practice that involves balancing the workemployee relation by providing monetary and non-monetary benefits to employees. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. the managers must appreciate the value of competitive pay. Compensation Management contributes to the overall success of the organization in several ways. It is the remuneration received by an employee in return for his/her contribution to the organization. and have an investment view of payroll costs. It is a tool used by management for a variety of purposes to further the existence and growth of the company. It may be attuned according to economic scenario. goals.

It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees For other organizations. and to motivate employees to direct their efforts towards achieving the goals of the organization OBJECTIVES       To study the effectiveness of compensation. It is responsible for each and every decision taken. the goal of the compensation plan may be to attract qualified employees.INTRODUCTION Human Resource is the most vital resource for any organization. To gain the practical experience in the industry. To study the scope of compensation To study the causes of compensation To study the solution of compensation . Compensation is the remuneration received by an employee in return for his/her contribution to the organization. Employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. The lucrative compensation will also serve the need for attracting and retaining the best employees. each and every work done and each and every result. to retain those employees.

2008. 4.  Book . Shane and Jon have studied the various factors that influence the performance of police people. C. Human Resource Management.. Gupta Dr. The state university of new jersey-Newark.N.Jason T. Chhabra T. organizational commitment and turnover.  Shane and Jon M. Sultan Chand and . 3.. Moffitt and Karen Rogers have stated the modeling relationship of stress with job satisfaction. Dhanpat Rai and Co. 6th edition.RESEARCH METHODLOGY Research design: Sampling type : Sample Area : Sample size : Sample unit : Descriptive convenient random sampling Meerut 50 2 SOURCE OF THEORETICALE FRAMEWORK Books and Jason has concluded the factors that have relationship with work stress and life of executives. Mamoria C. Human Resource Management – Concepts and Issues. The relationship between life balance and work stress in corporate executive.B. BIBLIOGRAPHY BOOKS: 1. Personnel Management. 2.. Organizational stressor and police performance. Sons Publication. 2009.B. New Delhi. Capella university.

com www.5.com www.com www. Prasad L.citeHR.R.com ANNEXURE Personal Data Name: Designation: Department: Qualification: .google. Principles and Practices of Management.M. Kothari C. Sultan Chand and Sons Publication.modi industries. New Delhi MAGAZINES:   Business World Business Today NEWSPAPERS:  Times of India WEB SITES: www. 6. Vishwa Publications.groupmkm. Research Methodology...

Questionnaire Employee Name………………… Designation Age Gender Salary ………………… ………………….. …………………… …………………….. 1) Is the existing compensation system fair? (a)Strongly agree (b) Agree (c) Neither agree nor disagree (d) disagree (e) Strongly Disagree 2) Is it applied fairly? (a) Disagree Strongly agree (b) Agree (c) Neither agree nor disagree (d) disagree (e) strongly 3) Is there some flexibility to reward exceptional performance? (a) Yes (b) No 4) The company has an approach to pay & bonus positioning appropriately recognizes diff employee segments? (a) disagree strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly .

5) The scope & intensity of the compensation services company provides are well defined. (a) Strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly disagree (8) Is the compensation system tied to the firm’s strategic goals? (a) Yes (b) No (c) Don’t Know (9) The management is able to communicate the compensation approach to their employees effectively? (a) Strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly disagree (10) The managers make effective decision regarding pay & incentives? (a) Strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly disagree . (a) Strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly disagree (6) Does the system substantially reward performers over non performers? (a) Yes (b) No (c) Don’t know (7) The compensation function is structured for max effectiveness.

Yes b.Not at all (16). Refundable b. Determine total amount of salary or wages. Are you capable of achieving the goals set for you through compensation administration? a. To a great extent c. b . No (15). Non-refundable (13).compensation administrations a work of HR departments for doing this work efficiently other departments provide some information. b. a.Do your co-workers and superiors help you for receiving the claim of compensation? a. To some extent b.which one type of provident fund is more beneficial for the employee? a.Occasionally c. Forecasting of number of retirement candidates.(11) Is the system modified from time to time based on the changing needs of the firm? (a) Strongly agree (b) Agree (c) neither agree nor disagree (d) Disagree (e) Strongly disagree (12). Never . . (14).Compensation administration help to determine the require fund in present or future year through on which basis? a. Consistently b.