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Management
Basic Introduction
Module 1 - Introduction To Compensation
A. Definition of Compensation
B. The Pay Model
C. Strategic Pay Policies
Attendance 20%
100%
serve
Business serveBusiness
Business
Objectives
Strategy Objectives
Business
Business BusinessObjectives
Objectives
Strategy
Compensation
Compensation Compensationstrategy
strategy
HR Head
is periodically
Strategy is periodically
reevaluated
reevaluatedand
Non-Financial andthe
the
Org.Structure Compensation plan
Rewards Compensation plan
periodically
periodicallydeveloped
developed
Compensation
Plan
Business
Business BusinessObjectives
Objectives
Strategy
Compensation
Compensation Compensationstrategy
strategy
HR Head
is periodically
Strategy is periodically
reevaluated
reevaluatedand
Non-Financial andthe
the
Org.Structure Compensation plan
Rewards Compensation plan
periodically
periodicallydeveloped
developed
Compensation
Plan
Business
Business BusinessObjectives
Objectives
Strategy
Compensation
Compensation Compensationstrategy
strategy
HR Head
is periodically
Strategy is periodically
reevaluated
reevaluatedand
Non-Financial andthe
the
Org.Structure Compensation plan
Rewards Compensation plan
periodically
periodicallydeveloped
developed
Compensation
Plan
C & B/S M
Pay levels /
structures Compensation
Compensation
Contribution Manager,
Manager,along
alongwith
with
Employee
/outputs team
teamisisresponsible
responsibleforfor
Total carrying out
carrying out
compensation
remuneration compensationrelated
related
activities
activities
Performance
linked Pay
Individual Pay
Monday, March 28, 2011Internal Equity External Equity 10
Employment Relationship
TRANSACTIONAL – Emphasizing the Cash &
Benefit Forms
RELATIONAL
Monday, March 28, 2011 12
Factor
Job Against Job Ranking Comparison
Alternation Ranking
Paired Comparison
Mental requirements,
Physical requirements,
Skill requirements,
Responsibility, and
Working conditions
M AXIM UM
FACTOR DEGREE FACTOR
POINTS FACTOR JE Points LEVEL W EIGHTS
Midpoint
Most companies strive to have the overall
workforce paid at or around a compa-ratio
of 100 %
Monday, March 28, 2011 52
Compa - Ratios
Individual C-R vary according to
Compa-Ratio 90%
Monday, March 28, 2011
100% 110% 100% 98% 54
Market Saurveys