hiii....am doing a MBA project on compensation and benefits.
can you plz guide in preparing questionnaire regarding the topic.i want clear information about the compensation and benefits of an organisation
From India, Visakhapatnam
1can you plz guide in preparing questionnaire regarding the topic.i want clear information about the compensation and benefits of an organisation
From India, Visakhapatnam
B4 that U sud gothru the WC Act, ESI Act, PF act & Gratuity Act u ll be getting a clear picture Regards, Sukumar Sr. Exe HR & IR
From India, New Delhi
From India, New Delhi
Hi
When you are doing a project, I am sure, you must be knowing the areas within C&B. Anyhow, you could take the following:
Raghu
From India, Madras
When you are doing a project, I am sure, you must be knowing the areas within C&B. Anyhow, you could take the following:
- Job Descriptions
- Job Evaluation
- Grading System
- Salary Scale (single or multiple scale)
- Pay Policy (overall includes pay increases on inflation, merit etc)
- Bonus & Incentives
- Emplolyment Contracts
- Benefits & Perks
Raghu
From India, Madras
Dear,
My is that
First you take Level wise Data.e.g. which employee is come under which catagory,Than go through policies that at wich level which kind of Policies are applied the facilities.
Same thing can be follow in salary structure.
Pls also refer all HR Policies.
Regards,
Jecklin Thomas
From India, Vadodara
My is that
First you take Level wise Data.e.g. which employee is come under which catagory,Than go through policies that at wich level which kind of Policies are applied the facilities.
Same thing can be follow in salary structure.
Pls also refer all HR Policies.
Regards,
Jecklin Thomas
From India, Vadodara
Hi All, How to do the Job Evaluation and Grading System cause i just finish the Job Description by Doing a job Analysis Thanks & Best Regards, Rana Abu Afia
From Egypt, Cairo
From Egypt, Cairo
Compensation subject is very challenging.You need to design in such a way that Management have minimum indirect burden and employees gets maximum take home.Also the structure of salary should be tax friendly.minimum wages, p,f, esic all statutory obligation to keep in mind.The system should be more of performance based & competency based rather than fixed.
From India, Hyderabad
From India, Hyderabad
Hi
Creation of Job Description and Job evaluation are interlinked. Before writing the Job description, we have to plan. you can do quantitative job evaluation approach, which involves breaking down each job into several compensable factors and giving each job evaluation factor a numerical score which, when summed up, represent the value of the job, or its worth.
So, draft the Job compensable factors and then you could call for a workshop with Senior members of the Organization to choose the most appropriate job evaluation factors that suits the organization. By order of priority,you can score each factor with a maximum numerical value that can go with the factor. Then you can arrange each factors into subfactors. For example, if you take "Experience" as one of the factors, and if you have finalized 100 points for that factor, then you can have subfactors ranging from 0 to 100 with step of increased experience. Do not go more than 3 or 4 sub factors, else it will be more complex.
Like this, you can evaluate other factors and assign numerical value. Add up all these that gives the total job size. Depending on the number of grades you would require in your organization, split the maximum numerical score you would have into the required grade, so that a range of scores would correspond to a grade. For example, if you have the maximum numerical score that is possible as 1500 and if you want to have 15 grades, then every 100 points represent a grade.
Having said that you need to be careful in doing so. It is not just the mathematical figure would decide the grade of an individual. You need to calibrate the scrores with the organizational hirerarchy. For example, you may have the total job size that corresponds to a grade but that may not be releavant to the organizational hierarchy, so you need to "up" the grade consciously or down. That also tells you whether the job description is written according to the level it is required or not. Calibrate the jobs with the organization and prepare a job family matrix so that you can eliminate anomalies in the evaluation or job description.
All the best
Raghu
From India, Madras
Creation of Job Description and Job evaluation are interlinked. Before writing the Job description, we have to plan. you can do quantitative job evaluation approach, which involves breaking down each job into several compensable factors and giving each job evaluation factor a numerical score which, when summed up, represent the value of the job, or its worth.
So, draft the Job compensable factors and then you could call for a workshop with Senior members of the Organization to choose the most appropriate job evaluation factors that suits the organization. By order of priority,you can score each factor with a maximum numerical value that can go with the factor. Then you can arrange each factors into subfactors. For example, if you take "Experience" as one of the factors, and if you have finalized 100 points for that factor, then you can have subfactors ranging from 0 to 100 with step of increased experience. Do not go more than 3 or 4 sub factors, else it will be more complex.
Like this, you can evaluate other factors and assign numerical value. Add up all these that gives the total job size. Depending on the number of grades you would require in your organization, split the maximum numerical score you would have into the required grade, so that a range of scores would correspond to a grade. For example, if you have the maximum numerical score that is possible as 1500 and if you want to have 15 grades, then every 100 points represent a grade.
Having said that you need to be careful in doing so. It is not just the mathematical figure would decide the grade of an individual. You need to calibrate the scrores with the organizational hirerarchy. For example, you may have the total job size that corresponds to a grade but that may not be releavant to the organizational hierarchy, so you need to "up" the grade consciously or down. That also tells you whether the job description is written according to the level it is required or not. Calibrate the jobs with the organization and prepare a job family matrix so that you can eliminate anomalies in the evaluation or job description.
All the best
Raghu
From India, Madras
Hi
Creation of Job Description and Job evaluation are interlinked. Before writing the Job description, we have to plan. you can do quantitative job evaluation approach, which involves breaking down each job into several compensable factors and giving each job evaluation factor a numerical score which, when summed up, represent the value of the job, or its worth.
So, draft the Job compensable factors and then you could call for a workshop with Senior members of the Organization to choose the most appropriate job evaluation factors that suits the organization. By order of priority,you can score each factor with a maximum numerical value that can go with the factor. Then you can arrange each factors into subfactors. For example, if you take "Experience" as one of the factors, and if you have finalized 100 points for that factor, then you can have subfactors ranging from 0 to 100 with step of increased experience. Do not go more than 3 or 4 sub factors, else it will be more complex.
Like this, you can evaluate other factors and assign numerical value. Add up all these that gives the total job size. Depending on the number of grades you would require in your organization, split the maximum numerical score you would have into the required grade, so that a range of scores would correspond to a grade. For example, if you have the maximum numerical score that is possible as 1500 and if you want to have 15 grades, then every 100 points represent a grade.
Having said that you need to be careful in doing so. It is not just the mathematical figure would decide the grade of an individual. You need to calibrate the scrores with the organizational hirerarchy. For example, you may have the total job size that corresponds to a grade but that may not be releavant to the organizational hierarchy, so you need to "up" the grade consciously or down. That also tells you whether the job description is written according to the level it is required or not. Calibrate the jobs with the organization and prepare a job family matrix so that you can eliminate anomalies in the evaluation or job description.
All the best
Raghu
From India, Madras
Creation of Job Description and Job evaluation are interlinked. Before writing the Job description, we have to plan. you can do quantitative job evaluation approach, which involves breaking down each job into several compensable factors and giving each job evaluation factor a numerical score which, when summed up, represent the value of the job, or its worth.
So, draft the Job compensable factors and then you could call for a workshop with Senior members of the Organization to choose the most appropriate job evaluation factors that suits the organization. By order of priority,you can score each factor with a maximum numerical value that can go with the factor. Then you can arrange each factors into subfactors. For example, if you take "Experience" as one of the factors, and if you have finalized 100 points for that factor, then you can have subfactors ranging from 0 to 100 with step of increased experience. Do not go more than 3 or 4 sub factors, else it will be more complex.
Like this, you can evaluate other factors and assign numerical value. Add up all these that gives the total job size. Depending on the number of grades you would require in your organization, split the maximum numerical score you would have into the required grade, so that a range of scores would correspond to a grade. For example, if you have the maximum numerical score that is possible as 1500 and if you want to have 15 grades, then every 100 points represent a grade.
Having said that you need to be careful in doing so. It is not just the mathematical figure would decide the grade of an individual. You need to calibrate the scrores with the organizational hirerarchy. For example, you may have the total job size that corresponds to a grade but that may not be releavant to the organizational hierarchy, so you need to "up" the grade consciously or down. That also tells you whether the job description is written according to the level it is required or not. Calibrate the jobs with the organization and prepare a job family matrix so that you can eliminate anomalies in the evaluation or job description.
All the best
Raghu
From India, Madras
New Question:
Wanted to explore into dividing the contractual bonus into 12 months and treat is as an allowance every month to employees. What is the disadvantages of doing it? I can only can think of early cash out for the company and at the same time employees need to pay tax earlier.
Purpose of doing that:
- Appear to be a better pay company (for fresh graduation, they join company base a lot on starting pay but they forgot to compare on the bonus benefit) - Facing an issue that not being able to compete with competitor, they offer high basic but no contractual bonus.
- Higher budget to recruit people
Points that have already taken into consideration:
- We still have profit sharing to distribute even though we have taken out the contractual bonus that will distribute at the end of the year (at least our employees still getting one lump sum of money at the end of the year)
Any friends are able to give me some more analysis on the decision? Wish that your wisdom can help me to support the case. Thanks.
From India, New Delhi
Wanted to explore into dividing the contractual bonus into 12 months and treat is as an allowance every month to employees. What is the disadvantages of doing it? I can only can think of early cash out for the company and at the same time employees need to pay tax earlier.
Purpose of doing that:
- Appear to be a better pay company (for fresh graduation, they join company base a lot on starting pay but they forgot to compare on the bonus benefit) - Facing an issue that not being able to compete with competitor, they offer high basic but no contractual bonus.
- Higher budget to recruit people
Points that have already taken into consideration:
- We still have profit sharing to distribute even though we have taken out the contractual bonus that will distribute at the end of the year (at least our employees still getting one lump sum of money at the end of the year)
Any friends are able to give me some more analysis on the decision? Wish that your wisdom can help me to support the case. Thanks.
From India, New Delhi
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PMS COmpensation and Benefits.doc
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