East West University

TERM PAPER
On
Compensation strategy of RAHIMAFROOZ

HRM412

Submitted to:

SSM Sadrul Huda

Assistant Professor Department of Business Administration

Submitted by:

Mahbuba Chowdhury
2004-3-10-013
Sec-01
Md. Tarekul Islam
2005-2-10-161
Sec-01

Shamsun Nahar Airin

2005-2-10-231

Sec-02

Tangina Jesmin

2005-3-10-029
Sec-02

Date of Submission: 14.08.2008

Acknowledgment

At first we present our due regards to the Almighty, who has provided us the brilliant opportunity to build and complete this term paper successfully with good health & sound mind.

We would like to acknowledge our instructor SSM Sadrul Huda for his guidance starting to data collection and preparing for the writing; our regards and heartfelt thanks to him.

Moreover, we are grateful to our administration as they provide us with the facility to use computer lab for browsing net & study room for teamwork. May be it would have been impossible to finish the report in time if we didn’t get the facility.

Letter of Transmittal

August 10, 2010

SSM Sadrul Huda

Assistant Professor
Dept of Business Administration
East West University
45 Mohakhali C/A, Dhaka 1212

Dear Sir,

Here is the term paper that you have asked us to prepare as a group for our course Compensation Management (HRM- 412).

We have done group work for this term paper and did it as per as the rule. We are encouraged and enthusiastic by collecting the details for the preparation of this term paper. Taking the direct assistance of the primary and secondary source, we prepared this term paper. Undoubtedly, we have learned a lot and have gained remarkable experience.

We sincerely hope that all our effort will be a success if you accept this project. We truly appreciate this term paper and should you need any assistance in interpreting, please call on us.

Md. Imtiaz Ahmed ……………………………..
2006-2-10-202
Sec-01

Md. Tarekul Islam ……………………………..
2005-2-10-161
Sec-01

Shamsun Nahar Airin ……………………………..
2005-2-10-231

Sec-02

Tangina Jesmin ……………………………..
2005-3-10-029
Sec-02

Methodology of the study
Objective:
The objective of our study is to find and analyze the problem of Rahimafrooz and without privatization, only to use Compensation Management, how to solve all of the problems.

Scope:
The scope of our study was wide as we have to research on a wide area, though here it is said about only Rahimafrooz, but we think that these problems is persists for all of the private organizations. The data was collected strictly for academic purposes only.

Sources: • For conducting our survey, we followed the Sample Survey method and used a structured questionnaire to collect the data. The data collected was primary in nature. • Some secondary data also we have collected for the research purpose. • From internet, books & newspaper we collect a lot of data which helps a lot to conduct this research. • Again our teacher also helps us to provide a lot of valuable information.

Limitations:
The limitations and constraints that we faced while conducting the survey included time constraints as we were allotted a very limited amount of time, money constraints, etc. But the biggest constraint that we faced was however, the allocation of time and resources to best meet our needs. Due to time it was impossible for us to conduct physical survey in Rahimafrooz for several times. Only one time we can do it. We had to talk over phone who are presently working in Rahimafrooz. Yet they are not willing to provide internal information about Rahimafrooz which is a strong limitation of our research.

Table of Contents

Page
Executive summary i

The Compensation System 1

The Reward System 2-3 Company profile 4

Compensation Dimensions 9-14
Pay structure of RAHIMAFROOZ 15
Performance Appraisal 16-18
Budget process 19-20

Conclusion 21

Executive Summary Late A. C. Abdur Rahim was the Founder of Rahimafrooz. He was a dreamer. He believed that he would be successful one day if he worked hard. At last he achieved honor and recognition for his efforts. He then established a small proprietary trading company named Rahimafrooz & Co, at Chittagong in 1950 which was later incorporated on 15th April 1954, which is now Rahimafrooz (Bangladesh) Ltd. He acquired the principal company Lucas Service Ltd in 1980 which is now known as Rahimafrooz BatteriesLtd. Rahimafrooz is one of the respected and reputed business houses in Bangladesh. It has just crossed 50 years of operation. Rahimafrooz has endured turbulences of the last 50 years and has been able to transform itself from a small trading company into a leading diversified business house. In the long journey of 50 years Rahimafrooz got some awards for their many kind of activities through its products. This reward is the result of our effort, commitment and teamwork. Compensation management provides a step-by-step approach for designing remuneration system that recognizes job requirements: employee related knowledge and skill; and performance related incentives that individual, team, and work unit and organization performance.
The reward system of an organization includes anything that an employee may value and desire and that the employer is able or willing to offer in exchange for employee contribution. Reward can be compensation component and non-compensation component. Monetary payments can be in the form of coins paper money or in the less tangible form of checks or credit cards. The rise of global markets over the last two decades of the twentieth century and into the twenty-first century has placed greater stress on organizations regarding their ability to compete and be profitable. The need to be competitive is critical to all organizations like profit and nonprofit, privately owned, or government oriented. To be successful, these organizations must provide high quality goods and services to their clients in a cost-effective manner.

i

The Compensation System

THE COMPENSATION SYSTEM RESULTS FORM THE ALLOCATION, CONVERSION, AND TRANSFER OF A PORTION OF THE INCOME OF AN ORGANIZATION TO ITS EMPLOYEES FOR THEIR MONETARY AND IN-KIND CLAIMS ON GOODS AND SERVICES. COMPENSATION BASICALLY IS A MONETARY REWARD FOR AN EMPLOYEE LIKE SALARY, WAGES BONUS.

MONETARY CLAIMS ON GOODS AND SERVICES ARE WAGES AND SALARIES PAID TO AN EMPLOYEE IN THE FORM OF MONEY, OR A FORM THAT IS QUICKLY AND EASILY TRANSFERABLE TO MONEY AT THE DISCRIMINATION OF THE EMPLOYEE. AS A MEDIUM OF EXCHANGE, MONEY ENABLES AN EMPLOYEE TO PURCHASE CERTAIN KINDS AND AMOUNTS OF WIDE VARIETY OF GOODS AND SERVICES AVAILABLE IN THE MARKET PLACE. IN-KIND CLAIMS ARE CLAIMS ON GOOD AND SERVICES MADE AVAILABLE AND PAID FOR EITHER TOTALLY OR IN SOME PERCENTAGE BY THE EMPLOYER. EMPLOYEE OFTEN HAS LITTLE OR NO OPPORTUNITY FOR IMMEDIATE MONETARY FUND AN IN-KIND PAYMENT. THE VALUE OF ANY IN-KIND PAYMENT TO A SPECIFIC EMPLOYEE DEPENDS DIRECTLY ON EMPLOYEE PERCEPTION OF IT WORTH.

COMPENSATION MANAGEMENT PROVIDES A STEP-BY-STEP APPROACH FOR DESIGNING REMUNERATION SYSTEM THAT RECOGNIZES JOB REQUIREMENTS: EMPLOYEE RELATED KNOWLEDGE AND SKILL; AND PERFORMANCE RELATED INCENTIVES THAT INDIVIDUAL, TEAM, AND WORK UNIT AND ORGANIZATION PERFORMANCE. TOTAL REMUNERATION ALSO INCLUDES A HOST OF BENEFITS THAT PROTECT AND EXPEND THE LIFESTYLE AND HEALTH OF WORKERS AND THEIR FAMILIES. THE TOTAL OF THESE CONTRIBUTIONS BY ORGANIZATION REPRESENTS ITS LABOR COSTS. ON THE OTHER HAND THESE COSTS SHOULD CONTRIBUTE TO IMPROVED EMPLOYEE PERFORMANCE AND, ON THE OTHER HAND EXPENDED PRODUCTIVITY SO THAT AN ORGANIZATION CAN BE COMPETITIVE AND PROFITABLE IN PROVIDING ITS GOODS AND SERVICES WITHIN A GLOBAL ECONOMY.

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THE REWARD SYSTEM

THE REWARD SYSTEM OF AN ORGANIZATION INCLUDES ANYTHING THAT AN EMPLOYEE MAY VALUE AND DESIRE AND THAT THE EMPLOYER IS ABLE OR WILLING TO OFFER IN EXCHANGE FOR EMPLOYEE CONTRIBUTION. REWARD CAN BE COMPENSATION COMPONENT AND NON-COMPENSATION COMPONENT. MONETARY PAYMENTS CAN BE IN THE FORM OF COINS PAPER MONEY OR IN THE LESS TANGIBLE FORM OF CHECKS OR CREDIT CARDS.

REWARDING EMPLOYEES

:

• Reward should be given on the basis of difference between standard goal and actual job performance • Reward system should be equal for the same level of job position and employee performances ▪ To reward employee need motivation. For motivation, need performance appraisal system. Performance Management is the integration of performance appraisal systems with broader human resource systems as means of aligning employees’ work behaviors with organization’s goals. Without motivation, no employee feels interest to do the job. ▪ Performance Management should be an ongoing, interactive process that is deigned to enhance employee capability and facilitate productivity.

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▪ Organization should have a standard goal of job performance. It can be setup by production measures, personal activities, performance, targets activities etc. And standard job has to be clear to every employee. They will try to achieve that standard goal. ▪ There salary and compensations structure should be more improved to match with present macroeconomics situation of our country. And they can maintain a better living standard. ▪ Before developing the salary structure, organization should consider individual equity, internal equity and external equity, Authority should give some power to employees; so that they motivate, inspire and responsible of some decision making for betterment of the organization. ▪ If they had to work forcefully or all decisions comes from top level; at that time they will not get enjoy doing that work. ▪ Authority should think employee’s career progression goal and feed back

COMPENSATION IN A KNOWLEDGE BASED GLOBAL ECONOMY

THE RISE OF GLOBAL MARKETS OVER THE LAST TWO DECADES OF THE TWENTIETH CENTURY AND INTO THE TWENTY-FIRST CENTURY HAS PLACED GREATER STRESS ON ORGANIZATIONS REGARDING THEIR ABILITY TO COMPETE AND BE PROFITABLE. THE NEED TO BE COMPETITIVE IS CRITICAL TO ALL ORGANIZATIONS LIKE PROFIT AND NONPROFIT, PRIVATELY OWNED, OR GOVERNMENT ORIENTED. TO BE SUCCESSFUL, THESE ORGANIZATIONS MUST PROVIDE HIGH QUALITY GOODS AND SERVICES TO THEIR CLIENTS IN A COST-EFFECTIVE MANNER. A MAJOR COST FOR ALL ORGANIZATIONS IN PROVIDING NEEDED GOODS AND SERVICES IS THEIR LABOR COSTS. COMPETITIVE GLOBAL ECONOMY, ALL THE ORGANIZATION, PRIVATE AND PUBLIC, MUST BE ABLE TO FOCUS ON THE EFFECTIVE AND EFFICIENT DELIVERY OF THE PRODUCTS THEY ARE DESIGN TO OFFER. A KEY FACTOR IN PROMOTING EFFECTIVE DELIVERY OF ESSENTIAL GOODS AND SERVICES IN THE PROVISION OF A PERFORMANCE BASED REMUNERATION SYSTEM FOR ALL WORKERS.

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COMPANY PROFILE

BRIEF HISTORY OF RAHIMAFROOZ

Late A. C. Abdur Rahim was the Founder of Rahimafrooz and he was born on 20 January 1915. At an early age he had to face obstacles and learned how to overcome them through diligence and courage. He was a dreamer. He believed that he would be successful one day if he worked hard. At last he achieved honor and recognition for his efforts. All his life he was an example of compassion and affection- towards all people around him, his family and people who worked with him. This is one of the values still cherished at Rahimafrooz.

He did not have the opportunity to go to school as a child and have formal education. But he was a self-taught man. He craved for knowledge. His attitude towards education is reflected in today’s Rahimafrooz, which takes pride as a learning organization. After a few years he left that job and ventured into a small partnership business. During early 1940s, he got active in commercial trading of scarce items and gained valuable experience.

He then established a small proprietary trading company named Rahimafrooz & Co, at Chittagong in 1950 which was later incorporated on 15th April 1954, which is now Rahimafrooz (Bangladesh) Ltd. Within 5 years, Mr. Rahim was able to enter into a joint venture with Lucas (UK) to set up a modern automotive battery factory. He acquired the principal company Lucas Service Ltd in 1980 which is now known as Rahimafrooz BatteriesLtd.

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Present situation of RAHIMAFROOZ

Rahimafrooz is one of the respected and reputed business houses in Bangladesh. It has just crossed 50 years of operation. Rahimafrooz has endured turbulences of the last 50 years and has been able to transform itself from a small trading company into a leading diversified business house. This is, indeed, a milestone, which Rahimafrooz has achieved with trust, support and dedication of all stakeholders, past and present, most importantly, its customers. All individuals of Rahimafrooz Group interact with customers and members of the public everyday and do hear, receive, or learn about their comments, complaints, views, etc. On the products, services, and dealings of the company. A systematic and organized way of managing these feedbacks and queries will surely strengthen our total commitment to customer satisfaction.

Today, Rahimafrooz has emerged as a respected national company by upholding high ideals and values, solemn integrity & honesty, excellence, service and innovation in all spheres of the company’s activities building on the already established foundation.

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Rahimafrooz

Board of Directors

Products of RAHIMAFROOZ

There are many products of Rahimafrooz. They are-

➢ Batteries ➢ Superstore ➢ Solar energy ➢ CNG ➢ Excel Retread ➢ Tyre ➢ IPS ➢ UPS ➢ Lubricants ➢ Power Generations

SBUs and Affiliations RAHIMAFROOZ

There are also some SBU’s and affiliations of Rahimafrooz. They are-

❖ Rahimafrooz Batteries Limited ❖ Rahimafrooz Distribution Limited ❖ Rahimafrooz Superstores Limited ❖ Rahimafrooz CNG Limited ❖ Rahimafrooz Energy Services Limited ❖ Excel Retread Limited ❖ GreyFab Limited, AsiaTex Limited ❖ Metronet Bangladesh Limited ❖ Academic Affiliation, Indepdent University of Bangalesh

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Awards of RAHIMAFROOZ

In the long journey of 50 years Rahimafrooz got some awards for their many kind of activities through its products. This reward is the result of our effort, commitment and teamwork. Team from the backend has contributed significantly to make this happen. They believe the honor will motivate & inspire them for greater achievements.

Enterprise of the Year: Awarded Enterprise of the Year as best management performance in 2001.

National Export Trophy (Silver) 2001-2002: Awarded National Export Trophy (Silver) 2001-2002 for its success in battery export in the international market in 2002.

Best Stall Award: won 2nd Best Stall Award in mini Pavilion category at Dhaka International Trade Fair 2003 (DITF 2003) in 2003.

McGraw-Hill Platt Award: Received McGraw-Hill Platt Award under Renewable Energy category for Solar projects in the remote rural areas of Bangladesh in 2004.

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Compensation Dimensions

Compensation system

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There are eight compensation dimensions and Rahimafrooz uses all the dimensions for their SBU’s. The eight compensation dimensions are-

I. Pay for work and performance: Pay for work and performance includes money that is provide in the short term like weekly, monthly and annual bonuses/awards and that permits employees to pay for and contract for the payment of desired goods and services. Rahimafrooz’ s amount of money payments provides to employees normally depends on specific job requirements. They pay their employee the component like base pay, premiums and differentials, short-term bonuses, merit pay and certain allowances.

II. Pay for time not worked: The number of hours worked per week and the number of days worked per year have decreased. Workers have enjoyed more day off with pay for holidays, longer paid vacations and paid time off for a wide variety of personal reasons. Rahimafrooz pays the employees for time not worked.

III. Loss of job income continuation: job security is and always has been the primary consideration for most workers. Rahimafrooz assures the employees about their jobs and the income derived from working will continue until they are ready to retire. Rahimafrooz not only assures them about accident and sickness problem but also assures about personal problems or interpersonal dynamics problems.

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IV. Disability income continuation: The possibility always exists that a worker will incur health or accident disability because of these disabilities employees are frequently unable to perform their assignment. Rahimafrooz gives the facility to their employees by providing expense continue medical, surgical and hospital bills.

V. Deffered income: Most employees depend on some kind of employer-provided program for income continuation after retirement. Rahimafrooz provides various kinds of program like social security, employer-provided pension plans, annuities and supplemental income plans provide income after retirements.

VI. Spouse income continuation: Most employees with family obligations are concerned with what might happen if they are no longer able to provide money that will allow their families to maintain a particular standard of living. The employees get the facilities from Rahimafrooz.

VII. Health, Accident and liability protection: when a health problem occurs, Rahimafrooz not only provides income continuation but also pays for goods and services required in overcoming the illness or disability. They provide a wide variety of insurance plan to assist in paying for this goods and services.

VIII. Income Equivalent payment: A final set of compensation components may be grouped under the title of income equivalent payment. Employees usually find them highly desirable and both employer and employees find certain tax benefit in them. Rahimafrooz also maintain the dimension.

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Non-compensation system

Non-Compensation System

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The other major part of the reward system consists of non-compensation rewards. Non-compensation rewards are all the situation related reward not included in the compensation package. Rahimafrooz also uses the non-compensation packages. There are six non-compensation packages. These ares-

I. Enhance dignity and satisfaction from work performed: Possibly the least costly and one of the most powerful rewards an organization can offer to employees is to recognize the person as a useful and valuable contributor. Rahimafrooz provide this kind of recognition so that employees have the feelings of self-worth and pride in making a contribution.

II. Enhance physiological health, intellectual and growth and emotional maturity: Rahimafrooz uses the system by considering the number of hours the employee spends on the jos, on travel to and from the work site and off the job in attempting to resolve problems. They give medical facilities to the employees. They have a good working environment and all the equipment they use are safe.

III. Promote constructive social relationship with coworkers: An old adage states that “One man is no man”. There are even more reminders that one human alone is weak. Rahaimafrooz has such a worth place environment where trust, fellowship, loyalty and love emanate from the top level of management to the lower levels of the organization promotes the kinds of social interaction most people need in order to thrive.

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IV. Design jobs that require adequate attention and effort: Rahimafrooz gives special attention to focus on scientific management efforts to specialize work assignments. They design the job such a way that workers could be taught quickly how to perform a few highly repetitive tasks. They give main focus on the employees so that the employees never become bored and dissatisfaction because it hampers their productivity.

V. Allocation sufficient resources to perform work assingments: Rahimafrooz gives sufficient resources to perform work assignments. They produce certain kinds and qualities of output within a specific time. They know that resources are available to help them meet these demands. to give the employee available resource and meet their demand the organization must place a win-win situation.

VI. Offer supportive leadership and management: Supportive leadership and management are very important for an organization. Rahimafrooz focuses on the system. Their followers have faith in and abide by the actions taken by their leaders. Employees have the faith and trust in management assist in establishing a workplace environment where job security becomes accepted. They have leaders who have sufficiently flexible with policies, rules and regulations so that the employee can meet job and no job responsibilities without infringing on the rights and the opportunities of other employees.

Pay structure of RAHIMAFROOZ
|Position |Basic salary |Ratio |
|General manager |62000 |1.0:1 |
|Manager |50000 |1.24:1 |
|Assistant manager |32000 |1.93:1 |
|Executive |15000 |4.13:1 |
|Technician |7000 |8.86:1 |

Other facilities (for manager): House rent----------------------------------40% Convenience allowances-----------------5% Medical allowances------------------------10%

IISUES & OPPORTUNITIES

Performance appraisal data & information are used for making decisions in the following major areas:

• Organizational & human resource planning • Employee tanning & development • Compensation administration • Employee movement • Validation of selection process

Performance Appraisal: A Cost- effectiveness Analysis

In performance appraisal time problem can exist. Not only must job content can identified, but now time is required by the rater(supervisor) & rate(incumbent) in defining & prioritizing job duties & establishing performance dimensions & performance standards. Performance appraisal has a strong “dissatisfaction” component because in some manner (not necessarily logical, rational. systematic, justifiable, or explainable). The strength of universally applicable or generic performance appraisal instruments is that it does the following:

1. Covers a wide variety of job. 2. Is completed easily &quickly 3. Requires a minimal documentation 4. Is quantifiable 5. Is relatively easy & cheap to administer 6. Permits evasive actions to avoid unacceptable confrontations.

DESIGINING A JOB CONTENT- BASED PERFORMANCE APPRAISAL PROGRAM

The job definition now becomes the basis for the performance appraisal rating instrument. The responsibilities & duties of the job definition become transformed into dimensions & rating items.

RATING SCALE DESIGN & DEVELOPMENT

The desired strength of all rating scale techniques are that they a. be relatively easy to administer b. translate directly to quantitative terms c. permits standardization, thus allowing for comparability across various organizational lines(department, functions, occupations & jobs) d. Relate to various kinds of qualities or rating items.

PROCESS THAT FACILITATES IMPROVED RATING OBJECTIVELY IS AS FOLLOWS:

• Number of Rating scale intervals • Odd or even numbers of intervals Rating scale intervals • Rating scale descriptors

Numerical Anchors I I 1 10 Or Adjectival Anchors I I Unacceptable Acceptable

Terminal Anchors

Unsatisfactory: Performance clearly fails to meet minimum requirements.

Marginal: Performance occasionally fails to meet minimum requirements.

Satisfactory: Performance meets stated job requirements. (Other descriptors that can be used are average, proficient, acceptable, fully successful, or competent.)

Commendable: Performance consistently exceeds stated job requirements. (Other descriptors that can be used are good, fully proficient, above average, or highly successful.)

Superior: All aspects of performance clearly and specifically exceed stated job requirements.
Performance Standards

• A performance standard is a criterion used to measure an employee’s performance. • Setting standards to measure performance is neither new nor unusual. • A basic performance measurement problem facing all supervisors (raters) is that jobs cannot be made uniforms; they cannot be made standard.

Performance Standards at a Fully Acceptable Level of Performance

At a fully acceptable level of performance, a performance standard should do the following.

1. Enable the user to differentiate between acceptable and unacceptable results. 2. Present some challenge to the employee. 3. Be realistic- that is, it should be attainable by any qualified, proficient, and fully trained employee who has the necessary authority and resources. 4. Be a statement of the conditions that will exist and that will measure a job activity when it is performed acceptably, expressed in terms of quantity, quality, time, cost, effect obtained, manner of performance, or method of doing. 5. Related to or express a time frame for accomplishment. 6. At least be recognizable if not observable.

Budget process

Rahimafooz has an important role to pa in the development of the organization’s budget. The budget defines how the organization will spend its money for the coming planned period or plan year. This budget includes a capital budget, an operation budget, and a cash budget. Operating budget tells about the expenses in the human cost of the organization. Personnel budget consists of all kinds of staffing- related expenses such as wages and salaries, merit increases, pay structure adjustment, general increases, benefits, upgrades, bonuses, commissions, and other incentives, overtime and other various premiums and differentials and frequently, allowances for contract or outside labor. A major organization unit involve in the development of the budget is the compensation committee of the board of directors. The committee perform all or a select group of the following activities; 1. Periodically review and appraise the performance4of the chief officer and top management. 2. Set compensation for the chief executive officer. 3. Review compensation of competitive companies. 4. Review and approve proposed increases in compensation for officers and directors. 5. Monitor executive perquisites and expenses. 6. Review and approve criteria used for determining amounts of performance based bonuses for executives. 7. Review general policies and procedures relating to director and officer compensation and total compensation for all employees. 8. Ensure compatibility of the long term strategies objectives of the corporation and the performance goals used for determining long term incentive awards. 9. Develop special supplement awards in cash, stock, or a combination of both for extra ordinary accomplishments. 10. Review and approve personnel- related budgets. 11. Report findings to the full board.

The Chief executive officer (CEO) has ultimate responsibility for all decisions made in the operation of the organization.

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Conclusion

Rahimafrooz is one of the respected and reputed business houses in Bangladesh. It has just crossed 50 years of operation. Rahimafrooz has endured turbulences of the last 50 years and has been able to transform itself from a small trading company into a leading diversified business house. This is, indeed, a milestone, which Rahimafrooz has achieved with trust, support and dedication of all stakeholders, past and present, most importantly, its customers. Today, Rahimafrooz has emerged as a respected national company by upholding high ideals and values, solemn integrity & honesty, excellence, service and innovation in all spheres of the company’s activities building on the already established foundation. In the long journey of 50 years Rahimafrooz got some awards for their much kind of activities through its products. This reward is the result of our effort, commitment and teamwork. In performance appraisal time problem can exist. Not only must job content can identified, but now time is required by the rater(supervisor) & rate(incumbent) in defining & prioritizing job duties & establishing performance dimensions & performance standards. Rahimafooz has an important role to pa in the development of the organization’s budget. The budget defines how the organization will spend its money for the coming planned period or plan year. This budget includes a capital budget, an operation budget, and a cash budget. Competitive global economy, all the organization, private and public, must be able to focus on the effective and efficient delivery of the products they are design to offer. A key factor in promoting effective delivery of essential goods and services in the provision of a performance based remuneration system for all workers.

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AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

AST. Manager

Manager

Manager

Manager

Manager

Manager

GM (Logistic)

GM
(F & A)

GM (HR & ADMIN)

GM (Marketing & Sales)

GM (Production Dep.)

COO

Chairman

MD

Directors

CEO

E X E C U T I V E

AST. Manager

AST. Manager

AST. Manager

Pay for time not work

Income equivalent payments

Spouse income continuation

Loss-of-job income continuation

Health, accident, liability protection

Deferred income

Disability income continuity

Pay for work and performance

Offer supportive leadership and management

Allocate sufficient resource to perform work assignment

Promote constrictive social relationships with coworker

Enhance dignity and satisfaction from work performed

Enhance psychological health, intellectual growth, and emotional maturity

Grant suffering control over the job to meet personal demands

Design jobs that recurs adequate attention and effort

Board of directors

Subordinate managers

Employees

Chief executive officer

Controller or finance department

Major division managers

Compensation committee

External consultant

HR compensation department

Salary administration committee

Job evaluation committee