Professional Documents
Culture Documents
Objective .
Definition.
An Integral Part of Human Resource Management.
TYPES OF COMPENSATION
Direct
Indirect
Variable Executive.
TRENDS IN INDIA
Compensation trends in India changed with liberalization in 1991. Government was the biggest job creator Guaranteed pay determined by agreement between employee unions and Government Private sectors made government pay scales as benchmarks
CURRENT TRENDS
Factors that influenced compensation post liberalization
Increase in productivity gains Fast growth in real wages Faster GDP growth IT and Outsourcing services Average salary increases over 2005-06 ranged from 10% to 40%
Financial management.
Legal requirements.
Broad banding.
Annual Bonus
Profit Sharing
Barth System
Gain Sharing
GUIDELINES
Linked to employees performance Communicated