Compensation & Reward............

1. Emerging Trends in Compensation & Rewards

2. An Overview

3. Compensation
• Provident Fund
• Gratuity
• Group Mediclaim Insurance Scheme
• Personal Accident Insurance Scheme
• Subsidized Food and Transportation
• Company Leased Accommodation
• Recreation, Cafeteria, ATM and Concierge facilities

4. Conti….
• Corporate Credit Card
• Cellular Phone / Laptop
• Personal Health Care (Regular medical check-ups)
• Loans
• Educational Benefits
• Performance based incentives
• Flexi-time

5. Conti….
• Flexi-time
• Flexible Salary Benefits
• Regular Get together
and other cultural
programs
• Wedding Day Gift
• Employee Referral
Scheme

6. Conti….
• Paid Days Off
• Maternity Leave
• Employee Stock Option
Plan

8. Reward Strategies
• Certification
sponsorships- like Six
Sigma, Black belt, green
belt.
• Good Growth Plan.
• Star of the Month
• Star of the Quarter
• Spot Recognition
• Team of the Month
• Team of the Quarter
• Quality Champion
• Best Employee Award

9. Changes
New actions/goals Traditional Programs of
declining value
 Emphasis on employee
engagement in health, energy,  Legacy compensation programs
employer strategic goals (longevity, shift, overtime, PAT
vacation)
 Skill and Knowledge
Attainment  Non-consumer engaged
employee health benefits
 Flexibility in work schedules
 Paper-based delivery of
 Emphasis on total services
compensation
 Compensation based on service
 Compliance rather than skills and
 Productivity through business performance
simplification and technology

10. Emerging Trends
 Compensatory trends differ with age
 Different generations, different needs:
 Is compensation driven by gender ?
 Compensation v/s benefits
 Flexible compensation, the key to employee satisfaction
 ESOP – A step towards motivation
 Work life balance

11. Conclusion…