Name:

Kulsoom Alam
ID:10819
Subject:
Human
Resources
Management
 Compensation & Benefits
Compensation is the remuneration received by an employee in return for his/her contribution to the
organization.
It is an organized practice that involves balancing the work-employee relation by providing monetary
and non-monetary benefits to employees.
The sum of all forms of payments or rewards provided to employees for performing tasks to achieve
organizational objectives.
Compensation is the process of providing adequate, equitable and fair remuneration to the employees.
It is a comprehensive term which includes pay, incentives and benefits offered to the employees.
Compensation is a systematic approach to providing monetary value to employees in exchange for work
performed.
Needs For Compensation

When managed correctly, it helps the organization achieve its objectives and obtain, maintain, and
retain a productive workforce.
Compensation is a key factor in attracting and keeping the best employees and ensuring that your
organization has the competitive edge in an increasingly competitive world.
Without adequate compensation, current employees are likely to leave and replacements will be
difficult to recruit.
The outcomes of pay dissatisfaction harm productivity and affect the quality of work life
Indirect
Protection Programs
Medical Insurance
Life Insurance

Disability Income
Pension
Social security
Pay For Time Not
Vacations
Holidays
Direct
Base Pay
Salary
Wage
Merit Pay
Bonus
Commission
Piece Rat
Profit Sharing
Shift Differential
Deferred Pay Perquisites

Stock Purchase
Annuity
 Benefits
Benefits The major reason for the increased attention in benefits is costs.
Role of benefits
To attract new employees
To retain the customer
Types of benefits
Mandatory protection programs
Social security
Unemployment compensation
Workers compensation
Compensation for time not work
Holidays
Vacations
Sick leave
Personal days
Other leave
20. Other benefits
Child care assistance
Wellness program
Educational assistance
Insurance benefits
Workers
Retirement benefits
Social security
Pension plan
Cash balance pension plan
Early retirement plan
 ZRG
Delivering IT Beyond
Expectations
Company Benefits
The confirmed staff can expect to get the following benefits at the sole discretion of the management. These
benefits are dependent on business conditions and may be revised from time to time based on economic
situation.

ADVANCED TRAININGS AND LEARNING OPPORTUNITIES:

In order to enhance the skills and learning of COMPANY staff, you will be exposed to an environment where
you will have the opportunity to work and interact with highly experienced and learned professionals. These
interactions will not only enhance your skills but also give you ready access for guidance towards your growth.
Based on the nature of your job, the company may also arrange in-house or outside training sessions for you.

PROMOTION:
All promotions shall be made on merit, experience and performance and no employee shall have the right to
promotion to any particular grade on the basis of length of service alone.

INCREMENTS AND PERFORMANCE BONUS

Based on company revenues, economic and market conditions, and your performance, employees are given
increment in salary based on industry standards and government release figures for inflation. Bonus
announcement is based on company revenues, profits and future outlook.
INCREMENTS AND PERFORMANCE BONUS
Based on company revenues, economic and market conditions, and your performance, employees are given increment
in salary based on industry standards and government release figures for inflation. Bonus announcement is based on
company revenues, profits and future outlook.

YEAR COMPLETION AWARD:

If your job offer included a year completion award program, they will receive the award amount at the end of first-
quarter of the completed year. Based on the profitability of the company and overall business circumstances, company
may announce bonus to be paid to confirmed employees as and when deemed appropriate by the management.

EARNED LEAVES:
All confirmed staff will be entitled to earned leaves according to the companys policy & it will be added in your leave
account at 1.2 leaves a month for each month of work performed. These leaves can be utilized or accumulated and en-
cashed at the end of the year by the staff with mutual consent and understanding with their managers.

CASUAL LEAVE:
You will be entitled to use your accumulated Earned Leave as causal leave to handle your unexpected personal
situations. These cannot be used as vacation and cannot be combined with other type of leaves and day-offs. Casual
leaves cannot be en-cashed or carried forward at year end.
PAID SICK LEAVES:
You will be entitledto one (01) sick leave per month or maximum of twelve (12) in one calendar year. The paid sick leave
benefit cannot be used for any purpose other than verifiable medical condition. The paid sick leave cannot be carried
over to next period and cannot be converted into cash payments.
TRAVEL ALLOWANCE
During the course of your job, you may be required to travel and all traveling and may be entitled to
allowance according to companys policy.

PHONE:
You will be allowed to receive short calls from home and relatives on the office telephone lines for
important or other emergency reasons. Based on the job requirements, you might be entitled to get a
cell phone or expenses for the same for official communication purposes. Using this facility for personal
calls will be allowed but charges for such calls shall be the responsibility of the employee.

OTHER BENEFITS:
Based on managements discretion, qualified high performance staff may also receive additional
benefits such as EOBI,cash advance (after completing one year), perfect attendance award, market
exposure, extra-ordinary performance reward, etc.