Employee Compensation &

Benefits Management-A Study on Singer Bangladesh Ltd.

Introduction
Today Humans are regarded as one of every company’s assets so they need to be efficiently and effectively managed. One of the tools
companies use to attract, retain and motivate its people is Compensation Management. Compensation is an integral part of human
resource management which helps in motivating the employees and improving organizational effectiveness.
Objectives
Broad Objective:
To know about the Employee compensation & Benefit management system.

Specific Objective:

1. To know the compensation & Benefit management system of Singer Bangladesh Ltd.

2. To know the employee satisfaction level of Singer Bangladesh Ltd with the company’s existing compensation & Benefit system.

3. To identify the problem of compensation & Benefit management system of Singer Bangladesh Ltd.

4. To provide the necessary recommendation about the compensation & Benefit package of Singer Bangladesh Ltd.
About Singer Bangladesh Ltd.
Singer is a well-established multinational firm with intense local recognition in consumer household durables. Basically, it is a retail
firm, which gains a prestigious position over time. Mr. Isaac Merrit Singer in the New York city of U.S established it in 1851 with
the innovation of the first practical sewing machine of the world.
SINGER in Bangladesh
Singer began its operation in this part (present Bangladesh) of the world in the early twentieth century during British India
establishing 3 showrooms. By the time of the separation there were 23 showrooms. Now the company has 78 showrooms and about
96 exclusive agents all over the country.
Products of Singer Bangladesh Ltd.
.
Types of Compensation
Direct Compensation is remuneration provided to

employ in exchange for their labor and services.

Pay: It consists of wages and salaries received for

performance work. It can be base pay and merit
pay based on job performance.

Incentives: They
benefit, but is not are provided
given directlyfor
to the
the employee’s
employee.
Benefits are the payments addition to pay. They can
be 1. Pay for time not worked 2. Protection Programs:
Pension, Gratuity, 3. Executives Benefit: Free
Newspapers,

Service and Perquisites: They increase

employees well being at on cost or significantly
reduced cost to employees.
 Job Evaluation

Job evaluation seeks to rank all the jobs in the organization and place them in a hierarchy that will reflect the relative worth of each
and determines the organization’s pay structure.
Compensation Systems
For making a fair compensation system, HRD of Singer follows some factors of the employees. Those are:

1) Mental efforts: intelligence, memory, verbal expression, specialized Knowledge, communications.

2) Physical efforts: height, weight, strength, working hour

3) Skills :experience, training, education, ability to perform the given task

4) Responsibilities: how much the employee responsible to perform the job, how willful he/she is?
Analysis & Interpretation of data

Human resource management department is very active in this organization.

The above table and graph represents that 65% of employees agree with that

the HR department of this organization is active, 10% employees have no

comments about it and remaining 25% employees are not satisfied with

the activity of HR.

Analysis & Interpretation of data

The top management communication system with their subordinates not satisfactory:

45% of the total respondents are not satisfied with the communication system

of Singer, 35% are satisfied and 20% have no comments about it.

These data represent has the Singer has a communication gap between the managers

and employees.