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Presented By: M. Hammad Manzoor MBA HRM II Roll No. 508195394 Supervised By: Dr. Amir Hussain Shah (AIOU) (April, 2012)
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Email: explorationist@gmail.com M. HAMMAD MANZOOR, MBA HRM - II Roll No. 508195394, Karachi Campus
Introduction about Author and Project Acknowledgement Abstract Introduction to the Topic Practical Study Cere e - Noor Data Collection Method / Analysis SWOT analysis Conclusions Recommendations Q & A Session
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Introduction about Project Labor Plans & Incentive Scheme Philosophy of the project is, How to understand the problem and find out a patent solution
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Acknowledgement
To Almighty ALLAH To Honorable Faculty AIOU, Mr. Sajid Saeed To Mr. Mansoor , AIOU, Karachi Campus To Mr. Usman AhmedManager Production (Cere-e-Noor) To my Class fellows of MBA II (Waleem, Javed, Sohail & Zehra etc) To my students at Islamabad (Bahria University, Islamabad) To my colleagues at my Office
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Abstract
Introduction to project Objective: 1) What is Labor? 2) Forms of Labor Control? 3) Types of Labor? 4) Renumeration and Incentive Systems? Understanding the Problem Methodology Used Research Methodology Primary Data Used Modeling of Different Methods Merits & Demerits Analysis Conclusions Recommendations
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INTRODUCTION
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Labor Work, Effort, Employment, a contract one being a employer and one being employee. Incentive Incentive is token of thanks in the form of Encouragement, Motivation, inducement.
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Direct labor refers to labor engaged directly in the production of a product. Direct labor cost is the cost of all labor expended in converting raw materials into manufactured articles.
It is the remuneration paid to those workers, who are not directly engaged in converting raw materials into finished products. Such costs cannot be conveniently identified with a particular product.
M. HAMMAD MANZOOR, MBA HRM - II Roll No. 508195394, Karachi Campus
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Email: explorationist@gmail.com
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Turn Over
It is a common thing that workers in an undertaking leave the employment and new workers join in place of those leaving. The change in work force is known as labor turnover.
Methods to calculate Turn Over Separation Method Replacement Method Flux Method
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The salaries, wages and statutory benefits put together are remuneration. called as
Incentive Schemes
The incentives are payments and benefits given to stimulate better performance or paid in return for a better performance. The incentives could be in monetary as well as non-monetary terms. While the remuneration is always individual based, incentives could be based on group performance.
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Those paid on the basis of time spent by an employee output produced by him, called Time Rate. irrespective of
Piece Rate
Those paid on the basis of output given by the employee irrespective of the time spent by him, called Piece Rate
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Time Based
Result Based
Bonus System
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Practical Study of
Cera-e-Noor
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Cera-e-Noor plant located in the industrial area of city of Hub in Lasbela, Balochistan province of Pakistan
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Sales Benchmarks
To achieve a target net sales of Rs. 222 million within the1st year of 2007-08 Expand the number of dealers by 10 % To achieve a target net sales of Rs. 400 million within the 2nd year of 2008-09 Expand the number of dealers by 30 % To achieve a target net sales of Rs. 1billion within the 3rd year of 2009-10 Expand the number of dealers by 50 %
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2. Replacement Rate
3. Flux Rate
(80/1100)/100 = 7.27%
((90+80)/1100)/100 = 15.45%
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Time Wage System at Cere-e-Noor: Time wage system is also being used at Cere-e-Noor production department; around 150 of the labor are working on time wage system. One of the practical calculations regarding the time wage system is as follow: A worker gets Rs. 15 per hour. He works for 8 hours per day. He has been present for duties on 25 days during the month. What is his wage for the month? Solution: His wage based on Time Rate will be: Rs.15X8X25=Rs.3000/www.aiou.edu.pk
M. HAMMAD MANZOOR, MBA HRM - II Roll No. 508195394, Karachi Campus
Email: explorationist@gmail.com
Piece Wage System at Cere-e-Noor: Piece wage system is also being used at Cere-e-Noor production department; around 300 of the labor are working on piece wage system. One of the practical calculations regarding the time wage system is as follow: The rate of labour per tea set is Rs. 80/- The worker has completed 20 tea sets during a week. What is the wage of the worker? Solution: His wage based on piece rate will be: Rs. 80 X 20 = Rs.1600
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M. HAMMAD MANZOOR, MBA HRM - II Roll No. 508195394, Karachi Campus
Email: explorationist@gmail.com
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Opportunities:
1. Huge growing domestic market 2. Enhancement of the factory units will provide the opportunity of employment 3. Growing purchasing power of people within the economy 4. More and more consumers are becoming brand conscious 5. Modern lifestyles markets are growing.
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Threats:
1. 2. 3. 4. 5. Turnover of the labor is increasing Skilled labor may join other factories in Increasing prices of raw material Political stability is at a decline Growing Manufacturing Power of China (they can do reasonable quality at low cost) 6. Increasing energy costs.(Oil & Electricity)
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Recommendations:
1. Enhance the application of the various numeration methods for better results of the production and profitability. 2. Combined Piece time and piece rates should have to apply in more appropriate way. 3. Enhance the manufacturing plant capacity to get the maximum number 4. Co-partnership should be offered to the labor staff for more confidence level to the lower staff. 5. Enhance the labor wages per hours and monthly salary
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Recommendations:
6. Enhance HRD to meet the appropriate professional needs for onward competition 7. Medical facility should also be provided to the children of the labors. 8. Flexible hours should be mandatory part of the working for the labors. 9. Pension plans should be implemented for the future satisfaction of the labor. 10. Exclusive incentive plans should be adopted for better competition.
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Thanks
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