Compensation Workshop

 Compensation: Meaning
 Total Compensation <Total Rewards>
 How Total Rewards Motivate & Retain
SESSION 1 Employees
 Employment Relationship Matrix & Person-
fit
 Various “Generations/Gender/Age
specific’ Total Rewards
 Internal Labor Market: O-P-T Model
 How to develop Pay Model
 Linking Business with Strategy
SESSION 2

 Communicating & Management of Total
Rewards - Implementing the Rewards
effectively

Ms. Deepa Mohamed

Overall annualized attrition average is 18.6% across all sectors

Key Reasons for Attrition:
•Career Advancement
•Personal Reasons (Family)
•Compensation

Ms. Deepa Mohamed

Levels of Uncertainty

Ms. Deepa Mohamed


 Total Compensation
SESSION 1 <Total Rewards>
 How Total Rewards Motivate & Retain Employees
 Employment Relationship Matrix
 Various “generations, gender, age specific’ Total
Rewards

SESSION 2

effectively

Ms. Deepa Mohamed

Total Returns

Total Relational
Compensation Returns
Learning
Opportunities
Challenging
Recognition Work
& Status Employment
Cash Benefits Security
Compensation

Base Allowances
Long –Term
Incentives Income Work/Life
Protection Focus
Merit/Cost Short –Term
of Living Incentives

Ms. Deepa Mohamed


How Total Rewards
SESSION 1
Motivate & Retain
Employees - EVP
 Various “generations specific’ Total Rewards

SESSION 2

effectively

Ms. Deepa Mohamed

EMPLOYEE VALUE PROPOSITION
An Exercise…

 I would request all of you to please think about
your present organization.
 Just visualize your “remuneration” – only the
CASH component
( Base+ HRA + PLI/LTI/STI)

 Now – Benefits …
(Allowances, Work/Life focus, Income Protection e.g. Pension, medical
insurance)

 Now please mentally tick various ‘Relational
Returns
(Recognition & Status/ Challenging Work)
Ms. Deepa Mohamed

•Base
Cash •Retention Bonus
•Pef Linked Incentive (PLI)

•Allowances (Hard area)
•Retirement & Saving
•PF, Gratuity, Super Annuation
•Medical Insurance
Benefits •Life Insurance
(Work-life focus) •Leave Encashment
•Pension Plans
•Work-life Focus
•Paid time-off
•Safety •Paid Leaves
•Work variety
•Work Status/ Work importance
•Social Recognition - Rewards
•Work Empowerment
•Learning &devt (Trg/lateral
Relational movements)
•Work Place Culture
Rewards: •Autonomy
•Feedback
•Work load
•Work Conditions
•Job Security
Ms. Deepa Mohamed
•International Mobility

So how many of you get maximum

‘ YES’

Congrats!!!
you are the fortunate ones, “Please Stick to
that company”
Ms. Deepa Mohamed

 Let’s think of an organization as a
network of returns created by all these
different forms of pay.

MOTIVATING
POTENTIAL SCORE = Skill variety + Task Identity + Task Significance
x Autonomy x Feedback
(MPS)
Ms. Deepa Mohamed 3

Compensation Wages, commissions and bonuses Incentive plans, Performance appraisals
Tie- up with various Health institutions, gyms, free
Benefits Vacations, Health Insurance health check-ups.
- Employee wellness, Health Check ups.
Social Interaction Friendly workplace Work culture
Stable, consistent positions and
Security
rewards
Status/recognition Respect, prominence due to work Succession planning
Opportunity to experience
Work variety Job Rotation
different things
Right amount of work (not too
Workload
much/ not too little)
Work Importance Is work valued by society
Authority/control/auto Ability to influence others; control
nomy own destiny
Advancement Chance to lead Mentoring & Coaching
Receive information helping to
Feedback Performance Counseling and feedback
improve performance
Work Conditions Hazard free Health and safety policies at work
Formal and informal training to
Development Learning and Development such as various trainings
learn new knowledge
opportunity as per TNA of employees, CGP (career growth path)
skills/abilities
Ms. Deepa Mohamed

from the cost perspective, motivation and
retention perspective

Organizations MUST:

Create a strong ‘BRAND’ …
Have a good REWARD SYSTEM in
place …
You get what you Reward !!!
Reward system have a significant impact on
Commit to ‘People First Value’ - Walk the Talk
employees’ perception of organisation, support
Clearly Communicate organization's mission and
and leadership and have a strong influence on
vision.
employee trust in workplace.
Guarantee Organisational Justice – Grievance
Handling, two – way communication TOTAL REWARDS
Create a sense of community – Like defense
services build value based homogeneity i.e.
“Camaraderie”.
Support Employee Development - Commit to
actualization, provide challenging jobs, enrich & Money Recognition Benefits
empower, promote from within, promote Rewards
developmental & learning measures, provide ‘EAP’
– Employee assistance programs i.e. on-site child -Salary -Social Recognition &
care, pension plans, medical and life insurance -Skill Pay formal Rewards
-Bonus -Increased responsibility
-Incentives & Accountability

Employees have to be at least moderately satisfied with their pay – close to their ‘market value’, 80% to 85% of it, otherwise
employees will leave.
Making it a nice place to work: Workstations/workplaces who are allowed to control their own climate are at least 3% more
productive than those who are not. “No cookie-cutter workplace template” but yes a well designed workplace is a “big
hygiene factor”.

GOING BEYOND EVP (Employee Value Proposition)

 Employer – Employee Equation
 “The Value Exchange”
 Beyond the EVP – the EVE…
 “The Balance between the Rewards Employers
offers & The Expectations they set in exchange for
these Rewards”
Ms. Deepa Mohamed

Expectations Rewards

• Performance • Affiliation
• 3 C’s of Teamwork • Compensation
(Coordination, Collaboration,
Communication) • Benefits
• Engagement • Career
• Behavior • Work Content
• Retention

And According creating an effective EVE
(Reducing Inequity between their expectations & the Rewards)

Ms. Deepa Mohamed

High
Culture of Culture of High
Churn-over Performance
Expectations

Culture of
Medium
Mediocrity

Culture of Culture of
Disengagement Entitlement
Low
Low Medium High

Ms. Deepa Mohamed Rewards

Via their

TRANSACTIONAL
COMPONENTS & RELATIONAL
COMPONENTS

“Poor or good Pay Meritocracy
Master’ Organisation Organisational Organisational Work
•‘Leading or lagging’ as •Performance Based Culture Vision Environment
per Industry Standards - variable structure to
‘differentiate high
performers’
Organisation’s Learning &
Hygiene Development
Factors Opportunities

Ms. Deepa Mohamed

Employees
SESSION 1
Employment
Relationship Matrix
 Various “generations specific’ Total Rewards

SESSION 2

effectively

Ms. Deepa Mohamed

 How do we get good candidates to join
us?
 How do we retain them?
 How do we get them to develop skills for
current and future jobs?
 How do we get them to perform well?
 What is important to a person to get desired
behavior as an ‘Employer”

The compensation challenge is to design rewards that enhance
productivity & Job Performance.

For this we need to apply all understandings of various motivational
theories as well as gender and age specific requirements.

HIGH

HIGH PAY
HIGH PAY LOW
HIGH
COMMITMENT
COMMITMENT
TRANSACTIONAL

Hired Guns
Cultlike
Stock Brokers Google, Microsoft

LOW PAY LOW LOW PAY HIGH
LOW

COMMITMENT COMMITMENT
Workers as Commodity Family

Insurance Firms Startups,
Armed Forces

LOW HIGH
RELATIONAL

Prediction about Performance Based
Theory Essential Features So What – HR Perspective
Pay

- Lower order needs: Food, Shelter
- Higher order needs: Self esteem,
Maslow’s Need - Base pay should be high so as to meet - Performance based pay may be de-
Self actualization
Hierarchy basic needs motivating if basic needs are not met
- If needs not met, becomes
frustrating

- Basic pay must be set high to meet
- Basic Needs:
hygiene needs, but can’t motivate
Herzberg’s two 1. Hygiene factors (Basic living needs, - Min. Pay level important
performance
factor theory security) - Balance of stressor enablers
- Hygiene factors influence the efficacy of
2. Satisfiers (Recognition, promotion)
performance based pay
- Larger incentives better than
- Focus on exchange b/w employee & smaller ones
- Job tasks & roles to be clearly defined
Expectancy employer (Motivation: Expectancy, - Clear LOS
(Line of Sight)
Instrumentality & Valence) - Training expectations to perform at
target levels

- Performance measures must be
- Increased Performance to be matched by
Perceived O/P (e.g. pay) equals clearly defined
Commensurate pay hike
Equity perceived inputs (e.g. effort, work - Payouts doesn’t match expectations,
- Adequacy of pay evaluated basis
behavior) negative reactions from employees
comparison with peers
- Fairness payout is important

- Performance based pay to follow closely
- Rewards, Reinforce (sustains
behind performance
Reinforcement performance) - Timing of payout is critical
- Withholding payouts: A way to
- Rewards must follow after behaviors
discourage unwanted behaviors

- Performance targets to be clearly
- Performance based pay must be in sync
- Challenging performance goals: defined in terms of specific difficult
Goal Setting with goal difficulty
Greater intensity in performance goals
- Should be paid on imp. Goals
- Feedback is crucial

- Pay should be aligned with
- Performance based pay more suited
achievement of org. objectives - Performance based pay to be tightly
for complex jobs where work
- Employees prefer static wages linked with org. objectives
Agency monitoring is difficult
(salary) to Performance based pay - Performance based pay can be used to
- Performance targets should be tied
- Payments to be based upon direct & induce employee performance
to org. goals
successful completion of duties

Besides Money, other rewards influence behavior!! That is, Total Rewards

 Materialistic  More focus on Pay level

 Low Self Esteem  Want large, de centralized
organization with little pay for
performance.
 Risk Takers  Want more pay based on
performance.

 Risk Averser  Want less performance based
pay.

 Individualistic  Want pay plans based on
Individual Performance, not
team performance.
 Employees don’t begin to notice incentive payouts unless they are atleast 10%.
 With 15% - 20% more likely to evoke desired response.
 Every dollar spent on any Performance based pay plan yields $2.34 more in organizational earnings.
 10% increase in bonus paid to employees yields 1.5% increase in ROA( return on asset) to the first.

 How Total Rewards Motivate & Retain Employees
SESSION 1
 Various “generations,
gender, age specific’
Total Rewards
SESSION 2

effectively

Ms. Deepa Mohamed

Yes, Of course…
Now we have realized what motivates employees, let’s see
“How various Generations are affected by this?”

•Highly paid workers may wish to defer taxes by
OLDER GENERATION putting their pay into retirement funds (PF, Pension
Plans)

•May prefer child care, flexi work, co-location
DUAL CAREER COUPLE

EMPLOYEES WITH YOUNGER •May desire ‘Dependent care’ coverage
CHILDREN OR DEPENDENT (mediclaim),childcare .flexi work, less mobility
PARENTS

•May have high cash needs to buy a house, support
YOUNDER GENERATION a family, or pay back an education loan.

 HR Strategies customized for Diversity handling
› Age Group – being most critical to Gender inclusiveness
› (Whether Acquisition, Engaging/ Retaining – to Development Initiatives)
› Focus on ‘Gen Y’ will be more
 Mentoring Ms. Deepa Mohamed

So are you ready to Design a PAY MODEL??
Ms. Deepa Mohamed

Got a letter just this morning, it was postmarked Omaha,
It was typed and neatly written offering me a better job,
P Better job and higher wages, expenses paid, and a car.
But I’m on TV here locally, and I cant quit, I’m a star.
O I come on TV a grinnin’, wearin’ pistols and a hat,
E It’s a kiddie show and I'm the hero of the younger set.
I'm the number one attraction in every supermarket parking lot.
M I'm the king of Kansas City. No thanks, Omaha, thanks a lot.
Kansas City Star, that’s what I are…

Ms. Deepa Mohamed

 Compensation – Milkovich & Newman
 www.worldatwork.com
 Deloitte Touche Tohmatsu India Pvt Ltd. Survey
 Mercer Survey 2011
 Towers Watson
 Academy of HRD
 Aon Hewitt
 Talent Management Handbook – Lance A. Berger & Dorothy
A Berger

Ms. Deepa Mohamed

•Internal Labor Market: O-P-T Model
•How to develop Pay Model <Exercise A>
•Linking Business with Strategy <Exercise B>
•Flow to develop Sales Incentive Plan <Exercise C>
•Communicating & Management of Total Rewards -
Implementing the Rewards effectively

Ms. Deepa Mohamed

SESSION 1 Employees
 Various “generations, gender, age specific’
Total Rewards

Internal Labor Market:
O-P-T Model
SESSION 2

effectively
Ms. Deepa Mohamed

 Are we really able to attract desired
candidates?
 Are we able to retain them?
 Do our employees Perceive it as fair?
 Do they see clear Line of Sight between
expectations, performance & Rewards?

Ms. Deepa Mohamed

Whether pay is leading catalyst for change or a follower of change - Compensation
Manager must learn how to implement and manage change.
“Not only we must know the Strategic and technical aspect of compensation, they
also must know how to:
 Bargain; Resolve disputes; Empower employees

35% understood the link between their Job Performance and pay
they receive

• Watson Wyatt Survey (13,000 employees)
(Source: Watson Wyatt news release, September 9,2002)

“Pay plans are not well understood by the employees”
only 1/3rd employees revealed that they understood how pay
ranges are determined and how pay increase are calculated

• WorldatWork Survey (6,000 employees)
(Source: WorldatWork Journal 11(4) (Fourth Quarter 2002)

Ms. Deepa Mohamed

 Competitive Dynamics:
-Culture/Values
-Social & Political Content
-Employee/Union Needs
-Other HR Systems

-What factors in the business environment are
important today?
- Changing customer needs
- Reducing volumes & Margins
- Increase in labor wages
- Changing Regulations (SEBI,IRDA).
Ms. Deepa Mohamed

POLICIES TECHNIQUE OBJECTIVES

Alignment Work Analysis Description Evaluation/ INTERNAL Efficiency
Certification STRUCTURE •Performance
•Quality
•Customers &
Competitiveness Market Surveys Policy PAY Stockholders
Definitions Lines STRUCTURE •Costs

Contributions Seniority Performance Merit INCENTIVE
Fairness/
Based Based Guidelines PROGRAMS
Equity

Management Costs Communication Change EVALUATION
Compliance

Ms. Deepa Mohamed

1) The Compensation Objectives
2) Foundation Polices (Policies
Decisions)
3) The techniques that make up the
Compensation System

Ms. Deepa Mohamed

POLICIES
OBJECTIVE Internal Alignment TECHNIQUES
Efficiency External Competitiveness Job profiling
Fairness Employee Contribution Salary bench-marking
Compliance Management PMS

Labor CostsDeepa Mohamed * no. of employees
Ms.
= Pay Level

• Performance enhancement,
Efficiency delighting customers,
improving quality, controlling
labor cost.

• Should be the fundamental
objective of any pay system.

Fairness Procedural Fairness (How Pay
decision is made)Fair Treatment
by recognizing employee
contributions.

• Laws, minimum wages,
Compliance equal remuneration act,
statutory compliances.

Ms. Deepa Mohamed

Internal Alignment :

• Comparison among jobs or skill levels inside a single
organization, in terms of their relative contributions to the
organizations business objectives.

External Competitiveness

• Refers to the pay relationship among organizations – the
organization’s pay relative to its competitors.
• Pay Level – (Base+Bonus+Benefits+Options/ Average of the
arrays of rates paid by an employer)/ Number of employees.
• Pay Form : Pay Mix External Competitiveness is expressed by:
Setting a Pay level that is above, below or equal to that of the
competitors
• Determining the mix of Pay forms(Pay Mix) relative to those of
competitors.
• Labor Costs = Pay Level * no. of employees
Ms. Deepa Mohamed


Labor Market Factors
•Nature of Demand
•Nature of Supply

Product Market Factors
•Degree of Competition EXTERNAL
•Level of Product Demand
COMPETITIVENESS

Organization Factors
•Industry, Strategy, Size
•Individual Manager

Ms. Deepa Mohamed


Theory Prediction HR Action
Compensating Differentials •Work with negative JD’s & Compensation
characteristics . structure must capture
•Require higher pay to attract these negative
Workers. characteristics.
•Eg. – Work at remote area
Efficiency Wage Above market wage will •Best Screening at
improve efficiency by recruitment stage to get
attracting workers who will good candidates
perform better and be less •Effective PMS
willing to leave.
Signaling •Pay Policies Signal the kind of Pay Practices must
(Lead, Lag, Equal) behavior the employer seeks. recognize desired
(Both Pay level & Pay mix •Eg. High Individual Incentives. behaviors with clear Line
send signals) Shows: Individuals of Sight.
(Higher Bonus or Higher performance is highly valued.
Base Pay)
Ms. Deepa Mohamed


PERFORMANCE DRIVEN MARKET MATCH
Benefit
Benefits Options
s
17% 4%
20%

Options Base
16% 50%
Bonus Base
6% 70%
Bonus
17%

SECURITY
WORK LIFE BALANCE
Benefits
20%
Benefits
30%
Base
50% Base
Options
80%
10%
Bonus
10%

Ms. Deepa Mohamed


 Industry
 Employer Size
“Talented Individuals have a higher
marginal value in a larger organization
because they can influence more
people and decisions, there by leading
to more profits.”
 Organization Strategy

Ms. Deepa Mohamed

Employee Contribution

 How much emphasis should there be on
Paying for Performance?
 Should the company share any profits
with employees? With all or few?

Ms. Deepa Mohamed

Management

“Understanding & communicating how the
compensation structure works & doing so
in ethical & fair ways.”
 Ensuringthat the Right People get the
Right Pay for achieving objectives in
the Right Way”.

Ms. Deepa Mohamed

Binding factor for Objectives & Policies

 Internal alignment : through job analysis, work
evaluation.
 External Competitiveness : Competitors’
benchmarking, pay level & pay mix
 Employee Contributions : performance based/
seniority based/ increased bonus/ incentives,
PLI/LTI etc.
 Management : Performance Measurement,
implementation & Communication.

Ms. Deepa Mohamed

SESSION 1 Employees
Total Rewards


How to develop Pay
Model
SESSION 2

effectively

Ms. Deepa Mohamed

Column1 IT Organization Y Telecom Z Startup

OBJECTIVES

INTERNAL
ALIGNMENT
EXTERNALLY
COMPETITIVE

EMPLOYEE
CONTRIBUTION

MANAGEMENT

TECHNIQUES

Ms. Deepa Mohamed

Column1 IT Organization Y Telecom Z Startup
Highly Meritocracy Develop leaders at every level. Demonstrate respect for Individual talent&
Innovation Driven Re-in force team based culture limitless potential of highly motivated team.
Business Driven Reduce Costs Passion for new ideas,
Increase Productivity willingness to take risks
OBJECTIVES
Reward fresh ideas, hard work & a commitment
to excellence.

Strong internal culture Well defined responsibilities & Matching with high expectations
Performance driven culture competencies based structure. Fair pay differences as per output.
INTERNAL
Business/technology L&D Opportunities.
ALIGNMENT
Based on design Structure

Lead Factor Competitive & highly Comparable Just “Matches” or Lag
EXTERNALLY
Bonuses Between 50th & 75th Percentile.
COMPETITIVE
Lead & Stock Awards

Bonus & Stock Awards based on Support high performance leadership Individual Incentive Schemes
EMPLOYEE Performance (Merit Based). culture. Stock/ ESOP’s for encouraging ownership.
CONTRIBUTION Team based increase
Tailor to business & team results.

Open & transparent Performance & leadership feedback Goal & Output focused
Communication. Neutral Implementer Result Driven
MANAGEMENT
Software supported. Entrepreneurial Control
Self Managed

Strong PMS Strong L&D LOS
TECHNIQUES Competencies Mapping Reinforcement

SESSION 1 Employees
Total Rewards


Linking Business with
SESSION 2

Strategy
effectively
Ms. Deepa Mohamed

Mission –
Why We Strategic
Strategy Outcomes
Exist Map :
Translate Satisfied
the Shareholders
Vision – Strategy Strategy
What We Our Delighted
Want to Game Customers
Be Plan Excellent
Balanced Processes
Values – Scorecard :
Measure Motivated
What’s
and Focus Workforce
Important
to Us
Ms. Deepa Mohamed

Business HR Program Compensation
Strategy PMS
Response Alignment Systems

Innovator:
Increase Product
Complexity and
Shorten Product
Life Cycle.
E.g. Samsung &
Nokia

Cost Cutter: Focus
on Efficiency

Customer
Focused: Increase
Customer
Expectations

Ms. Deepa Mohamed

Business HR Program Compensation
Strategy PMS
Response Alignment Systems
*Product Leadership Committed to Agile, Risk – * Reward innovation in Innovation & Learning
Innovator: * Shift to Mass Taking ,Innovative People Products and Processes. perspective - High
Increase Product Customization * Market – Based Pay weightage
Complexity and * Cycle Time * Flexible – Generic Job
Shorten Product Description
Life Cycle. * Encouraging Innovation -
E.g. Samsung & Innovation & Learning
Nokia Perspective

*Operational *Do More with Less - *Focus on Competitors Labor Internal Process
Excellence Optimum Utilization of Cost perspective - High
*Pursue Cost – Resources *Increase Variable Pay weightage
Cost Cutter: Focus Effective Solutions. *Manpower planning will Emphasize
on Efficiency *CRM, ERP Solution - be very crucial *Internal Process Perspective -
For effective Tracking & Focus on System Control &
Control Work Specifications.

*Deliver Solutions to *Delight Customers, *Customer Satisfaction Customer perspective -
Customers Exceed Expectations. Incentives High weightage
Customer *Speed to Market *Value of Job & Skill Based on
Focused: Increase Customer Contact.
Customer *Customer Perspectives
Expectations measurement - Crucial in
Performance Measurement

Ms. Deepa Mohamed

 High Initiative takers who can work under
low supervision for extended period of
time, that is why having Incentive on
Individual Performance motivates them
to perform even unsupervised.
 Motivational Factors:
 Money: 78% (that is, Direct financial rewards)
 Appreciation & Recognition – 2nd Rank

Performance Measurement relates to Compensation Strategy
Ms. Deepa Mohamed

INDUSTRY TYPE : SERVICE

• Client • Multiple Pay • Well defined
Acquisition levels JDs, KRAs &
and • Hierarchical KPIs
Retention structure • Competitor
• Increase in • Lead Bench
Market share • Performance marking
• Increase in based • Incentive
Revenue • PMS- plans
Automated • Balance
Score Card

Ms. Deepa Mohamed

SESSION 1 Employees
Total Rewards


 Communicating &
SESSION 2

Management of Total
Rewards - Implementing
the Rewards effectively
Ms. Deepa Mohamed

THE COMPENSATION
COMMUNICATION CYCLE

Was the What are
program
successfu the
l? goals?
DESIGNING & How should
EFFECTIVE
What is
FORMULATING the
the
IMPLEMENTATION
sessions be OF REWARDS
implement current
ed? situation?
What What is
“tools” the best
are most overall
appropri approac LEADS
ate? h? TO

Reduce Turnover
Facilitate Career progression
Facilitate Performance
Reduce pay-related grievances
Increase experienced workforce
Undertaking of Trainings

Ms. Deepa Mohamed

Criteria Equity Insurance
Goals • Net Revenue • Premium Net of default
• Less Compliance Issues • More Renewal percentage
• Increase in Client base • Less Policy default
Current • Market down • Increase awareness about Insurance
Market/Industry • Lots of players; strengthening their • 40% revenue through renewal
Situation position • Strict IRDA ruling on mis-selling
• Strict Regulatory guidelines
Best Overall Compensation Structure Compensation Structure
approach Compensation Structure based on Compensation Structure based on KRA’s Point
KRA’s Point system system
• No. of De-mat accounts • Premium amount Net of default
• Net Revenue • Renewal Revenue %
• % compliance issues < 1%
PMS Linkage
• Both compensation and PMS; aligned to achieve desired goals as per present Market
situation.
Tools (most Performance Management Systems (PMS)
appropriate) Evaluation based on Quantitative set goals/targets.
PMS Balance Scorecard includes parameters such as Financial/Customer/Internal
Processes and Innovation & Learning.
Employee made aware of his/her KRAs/KRIs at the time of joining i.e. Induction & On-
Boarding.
Session PMS sessions on Intranet (HRIS)
implemented
Success of the PMS Evaluation: Compensation/increment on the basis of PMS Scores Counseling
program (HOD meeting and counseling the staff/employees)

We all undermine the “Reward Value” of Good Reputation- A Dream
Company- ‘Company which actually falls as the best place to work’ and
which is perceived as a ‘ Brand’ thereby Employees become ‘Brand
Ambassadors’

So now what’s in it for us ‘HR Fraternity’- designing this ‘TOTAL
REWARD’ effectively and ‘manage the message.’

Because Total Rewards gives you EVP- i.e. “Employee Branding”

So let’s focus on all the aspects instead of only cash component.

We all tend to undervalue the Reward Value of a Good Reputation- so include Intangibles
Ms. Deepa Mohamed

WORK & LIFE BENEFIT
• policies and programs “on-site child care”
• Paid Leaves

PENSION PLANS
• Life PF/ESI (Employer initially may be the facilitator)
• In future private companies will soon incorporate
pension schemes in CTC Component as a ‘Retention
Tool’ .

MEDICAL & LIFE INSURANCE
• Provision of Mediclaim and Insurance schemes as a part
of company policies for employee benefit.

Ms. Deepa Mohamed

CONTACT DETAILS:
Email id : djmohamed@smcindiaonline.com
SMC Group of Companies

The data presented in the document is the intellectual property of aforesigned. Any rights including, inter alia, rights of reproduction, communication to the
public, adaptation and translation of the work should be done after prior permission from the Author. All rights reserved

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