Appraisal and Compensation Course Code: HRM-634 Submitted to: Dr. Durgadas Bhattacharjee Submitted by: Tahreen Naheen ID: 112 141 001 Section: A Date of Submission:24.08.2015 Term Paper On Compensation System in an Industrial Enterprise in Bangladesh A Case Study of ‘Ha-Meem Group’ (Clothing Manufacturer) Introduction Compensation is the most important
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contributions. 2. ___________ bridge the gap between organizational objectives and individual expectations and aspirations. A. Financial systems B. Corporate compensation systems C. Employment practices D. Rewards Correct: The Correct Answer is: D. Organizational reward systems and compensation systems design involves working out tradeoffs among somewhat seriously-conflicting objectives. 3. Reviews of both laboratory and field tests of _____________ are quite consistent
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Practitioner’s Guide to Total Rewards and Compensation By: Alix Echeverri April 2013 Table of Contents Executive Summary 5 1. Job Analysis 6 1.1 Definition of the key ingredient/activity 6 1.2 Rationale of its importance 6 1.3 Potential impact on organizational outcomes 7 1.4 Organizational symptoms that suggest that the function is not being performed correctly 7 1.5 Key descriptive models 8 Figure 1.1 – Decisions in Designing Job Analysis 9 1.6 Key steps in executing the prescribed
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the direct compensation package of a growing number of organizations. The trend is towards more organizations using variable pay and for these organizations to expand eligibility and to increase the prominence of variable pay in the total direct compensation package. Variable pay is defined as “direct compensation that does not become a permanent part of base pay/salary and which may vary in amount from period to period.” Other names for variable pay include: incentive compensation, incentives
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The objective of a properly designed executive compensation package is to attract, retain, and motivate CEOs and senior management. Despite substantial heterogeneity in pay practices across firms, most CEO compensation packages contain five basic components: salary, annual bonus, payouts from long‐term incentive plans, restricted option grants, and restricted stock grants. In addition, CEOs often receive contributions to defined‐benefit pension plans, various perquisites, and, in case of their departure
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Compensation Management Q1.a. What is the role of compensation and rewards in modern organization? What arethe advantages of a fair compensation system? Ans1a. Role of Compensation and Reward in Organization: Compensation and Reward system plays vital role in a business organization. Since, among four Ms, i.e Men, Material, Machine and Money, Men has been most important factor, it is impossible to imagine a business process without Men. Land, Labor, Capital and Organization are four major
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CEO compensation has been a subject of contentious controversy. Heated discussions erupt surrounding the impacts of executive pay to company performance. Some parties claim that executive pay can avoid the agency problem, which refers to the possibility of conflicts of interest between the shareholders and managers of a firm (Amarjit Gill, Nahum Biger and Smita Bhutani, 2008), in order to align the interest of executive officers and company. However, some people reckon that such compensation cannot
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Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. Business leaders charged to remain competitive within their industries are discovering a corresponding need to develop and implement programs to develop the competitiveness of their employees within their fields. They are discovering that in order to attract and keep the best employees, they will have to offer these employees opportunities for educational and vocational
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Sysco Compensation Strategies Sysco Corporation is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the food service and hospitality industries. Sysco attributes their great success in part to its performance based company culture. Performance Based Pay To achieve its company’s
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