COMPENSATION MANAGEMENT

OF

Submitted by:
Kamala Lochan Behera

CONTENTS Introduction Introduction Objectives of the Company Components Importance Factor affecting Wipro Compensation Management conclusion .

.  Compensation may be defined as money received in performance of work and many kinds of benefits that an organization provides to their employees.INTRODUCTION  Compensation is a systematic approach to providing monetary & non monetary value to employees in exchange for work performed.

deep technology expertise.  Wipro helps customers do business better by leveraging our industry-wide experience.3 billion for the financial year ended Mar 31.  The company posted revenues of $7. comprehensive portfolio of services and vertically aligned business model.297 employees serving clients in 175+ cities across 6 continents.  Our 55+ dedicated emerging technologies ‘Centers of Excellence’ enable us to harness the latest technology for delivering business capability to our clients. consulting and outsourcing company with 154.COMPANY INTRODUCTION Wipro Ltd (NYSE:WIT) is a global information technology. 2014.   .  Wipro is globally recognized for its innovative approach towards delivering business value and its commitment to sustainability.

 To determine basic wage & salary.  To increase or maintain morale. .  To reward for job performance.OBJECTIVES  To recruit & retain qualified employees.

COMPENSATION COMPONENT .

COMPONENT Direct compensation  Base Pay    Bonus Long term incentives Perks or perquisites .

CONT… Indirect compensation Insurance (health. eye).   Leaves (sick. holiday/personal)   Company parties   Clothes Phones/laptop Retirement programs .

 Allocate sufficient resources to perform work assignments.  Promote social relationship with coworkers.NON MONETARY  Enhance dignity & satisfaction from work performed. intellectual growth.  Offer supportive leadership & management.  Enhance physiological health. .

IMPORTANCE Job description Job analysis Job evaluation Pay structure Salary surveys .

JOB DESCRIPTION Wipro InfoTech is a leading manufacturer of computer hardware and provider of IT services in India and the Middle East region.  Backed by our strong quality processes and rich experience managing global clients across various business verticals. customer delight and sustainability. we help our customers harness the power of IT to achieve profitable growth.98 billion conglomerate and global leader in technology enabled solutions.  Part of Wipro Ltd.  From simple changes in process to innovative solutions. the company leverages on the parent's philosophy of 'Applying Thought' to enable business results by being a transformation catalyst. we align IT strategies to your business goals. the $6.  . Along with our best of breed technology partners. Wipro Infotech also helps you with your hardware and IT infrastructure needs. market leadership.

. the related tasks. and the basic training recommendations.  ] Job analysis is crucial for first. the analyst needs to understand what the important tasks of the job are. how they are carried out.JOB ANALYSIS    Job analysis (also known as Work analysis]) is a family of procedures to identify the content of a job in terms of activities involved and attributes or job requirements needed to perform the activities. and the necessary human qualities needed to complete the job successfully. and also for helping organizations develop their employees in order to maximize talent. helping individuals develop their careers. Through job analysis. Job analysis provide information to organizations which helps to determine which employees are best fit for specific jobs. This list contains the functional or duty areas of a position. Subject matter experts (incumbents) and supervisors for the position being analyzed need to validate this final list in order to validate the job analysis.

 .  Job evaluation needs to be differentiated from job analysis.  It tries to make a systematic comparison between jobs to assess their relative worth for the purpose of establishing a rational pay structure. job evaluation begins with job analysis and ends at that point where the worth of a job is ascertained for achieving pay equity between jobs.  Every job evaluation method requires at least some basic job analysis in order to provide factual information about the jobs concerned.  Thus.JOB EVALUATION A job evaluation is a systematic way of determining the value/worth of a job in relation to other jobs in an organization.

PAY STRUCTURE .

SALARY SURVEYS OF WIPRO .

ability to pay  Job analysis & description  Employee .FACTOR AFFECTING External Internal  Demand & supply of labour  Cost of living  Society  Labour unions  The economy  Compensation policy  The org.

 Wipro Cares “Miltr”  Kids @ Wipro (fun way of learning)  Fit for Life.  .WIPRO COMPENSATION MANAGEMENT: Flexible Benefits.  Medical Assistance Plan and Medical claim benefits.  Group Life Insurance Programme and Employee Deposit Linked Insurance (EDLI) Program.  Eco Eye.

bonus.CONCLUSION We can say that good compensation can increase the productivity of an organization because its provides various rewards. schemes etc. and its compulsory for every organization. .