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Employee Compensation and Benefits

Components of remuneration
Wages and Salary Incentives Fringe Benefits Perquisites Non-monetary Benefits

Factors Affecting remueration External Factors ` ` ` ` ` ` Internal Factors ` ` ` Labor Market Cost of Living Labor Unions Labor Laws Society The Economy Business Strategy Job Evaluation and Performance Appraisal The Employee .

Devising a Remuneration plan ` ` ` ` ` ` ` Job Descriptions Job Evaluation Job Hierarchy Pay Surveys Pricing Jobs Pay Levels Determining pay grades .

Challenges ` ` ` ` ` Skill-Based pay Pay reviews Pay secrecy Comparable Worth Employee Participation ` ` ` Eliticism Vs Egalitarianism Below Market Vs Above Market Remuneration Monetary Vs Non Monetary Rewards .

Concepts of Wages ` ` ` Minimum Wage Fair Wage Living Wage .

Incentive Payements .

Incentive Schemes ` ` ` ` Incomes varying in proportion to output Earnings varying less than output Earnings varying proportionately more than out put Earnings Differing at differing levels of output .

Group Incenitves .

Employee Benefits .

service programes.employee benefits and hidden pay roll.` ´Employee Benefits and Services include any benefits that the employee receives in addition to direct remunerationµ Synonyms are:Fringes. ` .

Significant Benefit programmes ` ` ` ` Payment for time not worked Insurance Benefits Compensation Benefits Pension plans .

Employee Welfare .

` Labor welfare refers to all those efforts of employers. .voluntary organisations and governmental agencies which help employees feel better and perform unions.

.Types of welfare activities.

lighting. . white washing of walls and floor maintenance ` Workshop (room) sanitation and cleanliness.humid ity. posters. ` ` ` ` ` ` Control of effluents Convenience and comfort during work like operative·s posture. Workmen·s safety measures Supply of necessary beverages . attention to approaches ` House keeping.tempratuer.gases.Welfare Measures Inside the work places ` Conditions of work environment ` Neighborhood safety and cleanliness.smoke. slogans information etc. pills tablets. lawns.soda Notice boards.eliminat ion of dust. up keeping of premises-compound wall.ventilation. seating arrangements Distribution of work hours and provision for rest hours. meal times and breaks. gardens passages and doors.fumes. milk .

Worker·s health services Women and child welfare Worker's recreation Employment follow up Economic services Labor-management participation Worker's Education . provision for drinking water. bathrooms.wash basins. reading room and library. mobile canteen Management of worker·s cloak rooms. rest rooms.` Conveniences ` ` ` ` ` ` ` ` ` ` Urinals . water coolers. Canteen services : full meal. planning .Consumer and credit Societies Bank Transaport Comminication:post .waste Disposal Roads.WELFARE MEASURES OUT SIDE THE WORK PLACES ` ` ` ` ` ` ` ` ` Housing Water .Family visiting.emergency ward.telegraph and telephone Health and Medical Services:Dispensary.sanitation.Secondary and High School Markets.outpatient and Inpatient care.parks.plaey grounds Schools:Nursery.Lighting.recreation.primary.

gymnesia.WELFARE MEASURES OUT SIDE THE WORK PLACES«.administration of community services and problems.swimmin pool.youth and women· s clubs.Council of elders.clubs. Watch and wrad:Security Community Leader shp Devlopment.cultural programmes like music circles.child ..festivel celebrations. .Interest and hobby circles.craft centers.reading room and library.contd ` ` ` air theatre.

Intra-mural facilities Provided within the factories Medical Compensation fro accidents Creches . Washing and bathing facilities Provision of safety measures Activities relating to improving conditions of employment Extra ²Mural Facilities Provided outside the factory Accomodation Indoor and outdoor recreational facilities Amusement and sprots Educational facilities for adults and children .canteens Supply of dringking water.

` ` ` ` Welfare facilities by the Govt Welfare facilities by the trade unions Welfare work by voluntary agencies Statutory ` ` ` ` ` ` Labor welfare officer Welfare provisions Welfare Funds Loans for house building Education for children Leave travel concession Fair price shops Loans for purchasing personal conveyance A host of other facilities ` Non Statutory ` ` ` ` ` ` Factories act 1948 The mines act 1952 The plantation Labor act 1951 .

Approaches to labor welfare ` ` ` ` Policing theory Religion Theory Philanthropic theory Paternalistic theory ` ` ` ` Placating theory Public relations theory Functional Theory Social Theory ` .

Administration of welfare facilities ` ` ` Welfare policy Organization of welfare Assessment of effectiveness ` ` Trend analysis Opinion Survey .