Study On HRIS With Refference To Compensation and Bennefit.
Study On HRIS With Refference To Compensation and Bennefit.
Study On HRIS With Refference To Compensation and Bennefit.
Submitted By
Mr. RAJESH.V.D
Reg. No. 05JJCM6039
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STUDENT’S DECLARATION
I, Rajesh, hereby declared that this project titled “A study on HRIS with
reference to compensation and benefits management for Macmillan” submitted by
me to the department of Management of Bangalore University in partial fulfillment of
requirement of MBA programme is a bonafide work carried by me under the guidance of
Dr. Arun Kumar. This has not been submitted earlier to any other university or institution
for the award of any degree diploma / certificate or published any time before.
Rajesh V D
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CERTIFICATE FROM GUIDE & HEAD OF THE INSTITUTION
Certified that this declaration entitled “Study on HRIS with reference to Compensation
and Benefits management for Macmillan India Ltd”, submitted in partial fulfillment for
the award of MBA Degree of Bangalore University was carried out by Mr. Rajesh under
the guidance of Dr. Arun Kumar. This has not been submitted to any other university or
institution for the award of any degree/ diploma/ certificate.
GUIDE DEAN
MBA DEPARTMENT
PRINCIPAL
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Acknowledgement
My project work would have become practical without the help of grace of the
“Almighty” and timely advice and creative support rendered by many. I express my
affectionate thanks to The Principal, Kristu Jayanti College, and Bangalore for giving
me an opportunity to do this training.
I express my sincere gratitude and special thanks to all employees for their
valuable suggestions and keen interest which are extremely helpful in shaping this project
work to success.
Rajesh.V.D
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EXECUTIVE SUMMARY
The project “study on HRIS with reference to compensation and benefits” was conducted
at McMillan India Ltd. The project basically dealt with building the compensation and
benefits modules as a part of the Human Resource information system, which was being
implemented in the organization using an Enterprise Resource planning (ERP) package,
SAP – which suited most of the requirements and functions of Macmillan.
The project was initiated by putting down all the activities that were currently being done
at the organization and the activities, which should be pursued in future.
The project involved studying the existing modules of compensation and benefits and
trying to improve it with added features for an easy automation. For this to achieve, there
was a small research conducted by interviewing employees and clients (who have bought
this package or have designed one by their own) by use of a questionnaire designed by
me. With the help of the research I got insight into the latest features that are used in the
compensation and benefits, which helped me to design the needed modules of
compensation and benefits. The modules are designed in such a way that all the activities
are in a sequential order.
The modules designed consisted of every detail beginning from the compensation
philosophy the company should use to the various benefits the company can offer. It
involved designing of various forms, which is built with the idea of simplifying the
process to the maximum extent, and to make it very clear how each form should be used.
The entire modules are looked into form the strategic Human Resource perspective,
which stresses on both the qualitative and quantitative issues compensation and benefits
process. Quantitative measures were particularly used in a few areas to reduce
subjectivity.
The project is provides a clear distinction between who is authorized to use which form,
so that there is no mixing up of decision making and results by un concerned or
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unauthorized people. The process is made very clear by specifying the objectives of each
activity in the process.
In short, the project deals with the entire spectrum of compensation and benefits from
start to finish in a sequential order to help the employees use each form (each activity) to
the fullest for organizational benefit and to achieve positive results by the end of the
process.
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LIST OF CONTENTS
LIST OF TABLES
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1 Levels and responsibilities 26
2 Job evaluation points 28 - 29
3 Job evaluation results 39
4 Compensation details 40 - 41
LIST OF CHARTS
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2 Compensation administration process 27
3 Establishing pay structure 37
4 Job evaluation results 38
Figure No Figures
1 Compensation policies 62
2 Variable pay 63
3 Analysis of compensation and benefits 64
4 Compensation philosophy 65
5 Job evaluation technique 66
6 Compensation administration process 67
7 Salary structure 68
8 Compensation statistics 69
9 Variable pay 70
10 Incentive plan 71
11 Staff recognition 72
12 Benefits 73
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1. INTRODUCTION
1. INTRODUCTION
The project basically dealt with building the compensation and benefits modules as a
part of the Human Resource information system, which was being implemented in the
organization using an Enterprise Resource planning (ERP) package, SAP – which suited
most of the requirements and functions of Macmillan .The project involved studying the
existing modules of compensation and benefits and trying to improve it with added
features for an easy automation.
10
For this to achieve, there was a small research conducted by interviewing vendors (who
already have a package designed for compensation and benefits for a readymade use by
the companies) and clients (who have bought this package or have designed one by their
own) by use of a questionnaire designed by me. With the help of the research I got insight
into the latest features that are used in the compensation and benefits, which helped me to
design the needed modules of compensation and benefits
It involved designing of various forms, which is built with the idea of simplifying the
process to the maximum extent, and to make it very clear how each form should be used.
The entire modules are looked into form the strategic Human Resource perspective,
which stresses on both the qualitative and quantitative issues compensation and benefits
process. Quantitative measures were particularly used in a few areas to reduce
subjectivity.
The company has the distinction of continuity in India’s fragmented educational market –
which is also amongst the largest and the fastest growing in the world. India has a million
schools however, a large part of the school market is closed to private publishers since
the state governments themselves publish books for state board schools. It is hoped that
state-level educational publishing will be opened to private publishers in due course. This
would be a huge and an exciting opportunity. The Indian publishing community consists
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of over 5,000 publishers but major and organized players are few.
Macmillan India has over 2,500 titles in its list and has played a significant role in the
growth and success of Indian writing. The company has relationships with over 15,000
schools all over India and with its 22 offices and showrooms, possibly the widest all-
India network.
As a major player in providing typesetting, data coding and conversion and editorial
services to publishers globally, Macmillan has been a pioneer in the information
technology-enabled service (ITES) space. It started its export-oriented typesetting
operations in 1975. Mainly British and European publishers have driven the market so far
but now US publishers are looking actively at outsourcing to India. This will have a
positive impact on the current export market estimated to be around Rs 8,000 million
(US$ 181.82 million) (Source: Industry estimates). Macmillan employs 3,354 staff with
about 1,500 in the ITES activity.
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Industry Profile
Traditionally, the term publication refers to the distribution of printed works such as
books and newspapers. With the advent of digital information systems and the Internet,
the scope of publishing has expanded to include websites, blogs, and the like.
The Indian publishing community consists of over 5,000 publishers but major and
organized players are few. The above mentioned are some of them. Mainly British and
European publishers have driven the market so far but now US publishers are looking
actively at outsourcing to India. This will have a positive impact on the current export
market estimated to be around Rs. 8,000 million (US$ 181.82 million) (Source: Industry
estimates).
5
COMPANY PROFILE
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2. COMPANY PROFILE
Daniel and Alexander Macmillan, two brothers from the Scottish Isle of Arran, founded
Macmillan in 1843.
Daniel was the business brain, while Alexander laid and the literary foundations,
publishing such great authors as Charles Kingsley, Tomas Hughes, Lewis Carroll, Alfred
Lord Tennyson, Henry James, Tomas Hardy, Rudyard Kipling and H.G.Wells.
As the company evolved, the Macmillan family’s vision continued to inspire the
publishing of major writers including WB Yeats, Sean O’Casey, John Maynard Keynes,
Charles Morgan, Hugh Walpole, Margaret Mitchell, C.P.Snow and Rumer Godden.
INERNATIONAL EXPANSION
An ambitious expansions programme was initiated in the late 1960s when Harold
Macmillan retired from politics after his spell as Prime Minister and Became chairman of
the company.
Serious academic, educational and literary publishing was followed by significant growth
in reference programme and college textbooks as well as educational and scientific
journals.
New international opportunities were grasped and publishing operations were set up in
Japan, Mexico and the emerging markets of Africa and Asia.
MACMILLAN TODAY
Macmillan is one of the largest and best-known international publishers in the world.
High-quality academic characterizes it and scholarly, educational, fiction and non-fiction
publishing in many forms: from STM and social science journals to serious non-fiction
and literary fiction; academic monographs and reference.
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Macmillan operates in over seventy countries. The diversity and relative autonomy of the
individual companies within the group ensures a vibrancy and local relevance to its
publishing in all markets.
A privately owned company (once owned by the Macmillan family it is now wholly
owned by the Verlagsgruppe Gorge von Holtzbrinck, a German family group), one of the
Macmillan’s strengths is its ability to focus on organic development and investment for
the long term. Macmillan prides itself on a willingness to innovate and on employing
people with the creative and business sense to develop and implement new ideas. Hence,
for example, in current years it has been able to develop ambitious online educational
resources-such as the Macmillan English Campus-and to invest in growing list of
scientific journals ambitiously, extending the nature philosophy and brand to a number of
new ventures.
Macmillan is particularly unusual in the publishing world in its commitment to service. It
is one of the only large publishing group that serves third party clients and its own
companies with services including typesetting and data capture, web design and
development in India, print sourcing facilities in the far east, and warehousing and
fulfillment in the UK, USA and, Australia. Its clients include many other publishers, from
Reed Elsevier through Bloomsbury to yellow pages.
1. Nature publishing group (NPG): scientific, technical and medical journals and
reference.
2. Palgrave Macmillan: academic publishing in humanities, social sciences and
business.
3. Pan Macmillan: fiction and non-fiction for adults and children.
4. Macmillan education: English language teaching and general curriculum learning
materials for international markets.
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5. Publishing services: book and journal order fulfillment, warehousing and
distribution, printing and electronic production, web development and information
processing.
PRESENT OWNERSHIP
Verlagsgruppe George von Holtzbrinck GmbH, a large media group created in 1971,
owns the Macmillan group. Holtzbrinck owns around 40 companies apart from
Macmillan and is headquartered in Stuttgart.
Its interests include book, magazine and news paper publishers and new media firms.
Industry Profile
Traditionally, the term publication refers to the distribution of printed works such as
books and newspapers. With the advent of digital information systems and the Internet,
the scope of publishing has expanded to include websites, blogs, and the like.
9
Some of the major players are:
The Indian publishing community consists of over 5,000 publishers but major and
organized players are few. The above mentioned are some of them. Mainly British and
European publishers have driven the market so far but now US publishers are looking
actively at outsourcing to India. This will have a positive impact on the current export
market estimated to be around Rs 8,000 million (US$ 181.82 million) (Source: Industry
estimates)
10
3. RESEARCH DESIGN
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3. RESEARCH DESIGN
• Hypothesis:
Design of human resource information system with reference to
compensation and benefits are highly effective in the organization.
• Population:
The study consists of over 150 employees.
• Sample size:
Selected sample size for the study would be 50 employees.
Selected on a systematic sampling frame work.
Statistical technique:
Suitable statistical technique will be used for the
Analysis of the data.
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Limitations of the study:
1. The time period taken for the study is only one month, this is very less time to
conduct detailed study about the HRIS
2. The organization should be cooperative enough to do the study.
3. The support from clients and vendors should be cooperative during the survey.
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4. ANALYSIS AND INTERPRETATION OF
DATA
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4. ANALYSIS AND INTERPRETATION OF DATA
DEFINATION:
An HRIS is a management system designed specifically to provide managers with
information to make HR decisions.
2. The need for this kind of information has increased in the last few years,
especially in large and/ or diverse companies, where decision-making has been
moved to lower levels.
3. Large companies generally have the advantage when it comes to HRIS’s, the cost
to develop an HRIS for 200 hundred people is usually close to that for 2000
people, so it is a better investment for large companies, larger companies tend to
have systems that have a fair degree of customization.
HRIS systems include the employee name and contacts information and all or some of
the following:
Department, job title, grade, salary, salary history, position history, supervisor, training
completed, special qualifications, ethnicity, date of birth, disability, veterans status, visa
status, benefits selected etc.
HRIS systems include reporting capabilities. Some HRIS track applicants before they
become employees. Some HRIS systems are interfaced to pay roll or other financial
systems.
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HRIS APPLICATIONS
1. Personnel.
2. Position control.
3. Position clarification.
4. Affirmative action.
7. Salary survey.
HRIS offers a wide array of workforce management tools. From recruiting, through
compensation, performance and benefits administration, and on to COBRA.
JOB AND SALARY HISTORY- tracks dates, rates, locations, divisions, departments, and
salary grades.
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BENEFITS TRAKING - computes full cost for employee, employer, and dependents.
Support simultaneous prior, current, and open enrollment. Reconciles carrier statements
and provide accurate benefits report.
Thus HRIS contains every field of Human Resource. This helps the organization in many
different ways as read from above and much more.
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COMPESATION AND BENEFIT
Compensation is defined as a return given for the work being done. Compensation can be
given in various ways. Most people think money is the only way of giving compensation.
Compensation can be both monetary and non monetary. Handling compensation in any
organization is the most important job. This is a very crucial process and has to be done
in a very systematic manner.
4. Simplicity.
9. Clear procedures.
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10. Recognition of the value of the people.
The procedure in which the compensation and benefits should be handled is designed in a
systematic way in the later parts.
5. Clear communication.
7. Measurable performance.
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Individual incentives are based on
2. Independent work
Bonuses are given based on the individual’s performance and company policies.
1. Non-cash awards
2. Recognition
3. ESOP’s
4. Executive compensation
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An employee who is injured during the course of employment, or suffers from work-
related mental disabilities, as well as occupational diseases, is eligible for workers
compensation benefits. These benefits include weekly compensation benefits. These
benefits include weekly compensation for lost income during the period the employee
cannot work.
3. Pension plans
OTHER BENEFITS
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1. Leave benefits
3. Recreation programme
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C. ANALYSIS AND DESIGN OF COMPENSATION AND BENEFITS
The objective of this project is to study the existing compensation and benefits module at
Macmillan and improving on it so as to atomize it in the proper manner.
For this objective to be achieved I had done a lot of exploratory research by browsing the
Internet, reading books, getting to know the in and out of compensation and benefits.
This involved studying every feature of the module. I had done a research by preparing
the questionnaire and interviewing the concerned person to get the various inputs in a
compensation management and benefits modules.
1. Compensation philosophy.
2. Compensation policies.
5. Broad banding.
6. Salary structure.
8. Variable pay.
9. ESOPs.
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DESIGN OF COMPENSATION AND BENEFITS MODULE
4. Simplicity.
9. Clear procedures.
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A. COMPENSATION PHILOSAPHY
Macmillan’s compensation program provides salary and benefits that are competitive
with the external labor market in order to attract, retain and motivate a diverse, talented
and effective staff. The pay program recognizes each staff member’s value and
contributions by tying increases in compensation to job performance, and particularly
by rewarding individuals who meet high performance standards, and differentiating
between superior performers and others.
COMPENSATION APPORCH
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INTERNALLY CONSISTENT COMPENSATION STRUCTURE
Max
Level 5
Level 4
S
a
l Level 3
a
r
Level 2
y
Level 1
Min
Degree of Responsibility
Chart No. 1
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LEVELS RESPONSIBILITIES
Level 1 Operational:
Office boys Filing, greeting guests, answering
telephones.
Level 2 Operational:
Assistants and supervisors Planning and setting agendas, proper
supervision.
Level 3 Operational:
Officers and executives Team management, decision making.
Level 4 Operational:
Managers and assistant managers Decision making for projects, delegation,
leadership.
Level 5 Strategic:
Senior management Setting of policies and procedures,
allocation of funds.
Table No. 1
Note: Level 1 is the jobs with the least responsibilities and level 5 is the one with
maximum responsibilities.
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Internally Consistent pay
Structure
Job Analysis
(Job description, Job Specification)
Job Pay
Evaluation Surveys
Pay Pay
Structure
Policies
Individual
Pay Performance
Appraisal
Implementation,
Communication,
Monitoring.
Chart No. 2
C. JOB EVALUATION TECHNIQUE
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This can be done by point method. This is one of the most widely used methods.
1. Break down jobs in to various compensable factors and place weights or points.
1) Know- how
Functional
Expertise
Managerial
Skills
Human
Relations
2)problem solving
Environment
Challenges
3)Accountability
Freedom to act
Impact of the end
Result
Magnitude
29
Table No. 2
KNOW – HOW
30
2. Managerial Skills: The ability to make any activities and functions work
well together. Have more responsibilities than the superiors. Decision making
for various projects.
PROBLEM SOLVING
ACCONTABILITY
31
JOB EVALUATION QUESTIONNAIRE
Name of employee/id:
Department/Location:
Job title :
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Purpose and objectives
Please give a brief statement of the purpose of your current job and agreed objectives for
the year (if appropriate)
Main objectives
List in outline only and indicate the approximate percentage of time spent on each
activity or frequency (e.g. daily, weekly, monthly, etc).
33
c) Give examples of the skills, knowledge and /or expertise you consider are
required to perform the job effectively.
Decisions
a) Own decisions
b) Advising others( outside your area of work i.e. people not managed by yourself)
34
Impact of decisions
What contribution would you say your job makes to the effective running of the
organization?
35
Signature of the employee signature of HR
2. Scales reflecting each different degree within each factor are defined.
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Examples: Know-how
1st degree: just knowing the basic skills of doing the job given.
2nd degree: knowing the job in little more depth with additional skills.
3rd degree: knowing everything about the job and handling it perfectly.
5. Once the highest degree of each factor is given a point allocation reflecting its
importance, the lower degrees are assigned proportionately lesser point values.
PAY SURVEYS
Macmillan can do a pay survey, which gives information of them compensation rates for
workers performing similar jobs in other organizations. Many surveys are available
online.
37
Identify Different pay
structures
Chart No. 3
Once the job evaluation points are determined we can develop a market line by plotting
the points against the pay survey rates. With this graph we can find out the distribution of
wages across the industry.
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Market line
Salary
C
Min A
Pt 1 Pt 2 Pt 3 Pt 4 Pt 5 Pt 6 Pt7
Level 1 Below Pt 1
Level 2 Pt 1 - Pt 3
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Level 3 Pt 3 - Pt 5
Level 4 Pt 5 - Pt 7
Level 5 Pt 7 above
Table No.3
2. Draw a graph with salary on horizontal axis and job evaluation points on vertical
axis.
3. The points on the line will represent the midpoints of the salary.
D. SALARY STUCTURE
40
BASIC
DEARNESS ALLOWANCE
HRA
CONVEYANCE
COST OF LIVING ALLOWANCE
SPECIAL ALLOWANCE
ATTENDANCE PAY
SHIFT ALLOWACE
SUB TOTAL
STATUTORY BONUS: 20% OF BASIC
VARIABLE PAY
SUB TOTAL
TOTAL
LESS:
PROVIDENT FUND
GRATUITY
INCOME TAX
FESTIVAL TAX
INSUARENCE
MISCELLANEOUS DEDUCTIONS
SUB TOTAL
Table No. 4
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1. Note: All the benefits are as per company’s policies, which are subject to change
from time to time.
2. Variable pay is not a part of your guaranteed compensation and will be paid based
on criteria determined by the company from time to time.
E. COMPENSATION STATISTICS
Compensation statistics
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Months worked per year
Hourly rate
Annual salary
Total compensation
* 100
Total turn over
Total compensation
* 100
Total cash inflow
43
F. VARIABLE PAY
44
4. Clear separation from variable pay.
5. Clear communication.
7. Measurable performance.
2. Independent work.
45
G. PROPOSED INCENTIVES
1. AWARDS
Cash and non cash awards:
These can be in the form of both cash and non cash awards. This would be given
according to their performance. This can be referred from the module of
performance management system. Non cash awards can be gift certificates, travel
awards etc.
Recognition awards:
This recognizes individual employees for their performance or services. It
includes awards like the “best employee of the year”, “best employee of the
month”.
ESOP:
This allows employee the right to purchase a fixed number of shares of the
company stock at a specified price for a limited period of time. The stock markets
46
price exceeds the exercise price; employees can exercises the option and sell the
stock at a profit.
Executive compensation:
This includes supplemental benefits, long term incentives, annual bonuses,
executive salaries. Their benefits may take several forms including traditional
retirement, health insurance, vacation and others.
Gift vouchers: this includes sodex ho passes and gift coupons for stores with
which the company has made a tie up with.
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Profit sharing: this is a like bonus where the employees get a little percent of the
profit earned.
Company car: employees can make use of the company car when necessary.
Flex time: allowing the employees to work whenever they are comfortable.
Extra vacation: apart from the normal vacation periods, this allows employee to
take a little extra time as a reward of this performance.
Child care: taking care of the children of the employees when they are working.
Date:
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Managing Director/HR/Department head
Note: This payment will be processed on the employee’s next pay schedule subsequent to
the receipt of this document by the concerned department. The award will be subjected to
all taxes.
Date:
49
Managing Director/HR/Department head
Certificate of recognition
Date:
50
Managing Director/HR/Department head
BENEFITS
This is a form of indirect compensation. Benefits can be of many types. Each of them is
explained below.
SECURITY BENEFITS
Worker’s compensation
This provides benefits to people who are injured on the job.
Report of accident/injury
Note: This form has to be duly signed by the employee and has to be submitted to the
concerned department. To be filled in after the recovery of the employee.
51
Employee ID:
Were there any witnesses to the accident? If yes please provide name, address and phone
number.
Has injured employee lost time from work? If yes when did lost time begin?
52
Has employee returned to work? If yes, when did he return?
I. RETIREMENT BENEFITS
3. Pension plans
OTHER BENEFITS
53
This would includes
1. Leave benefits
3. Recreation programs
3. Date of birth:
5. Address:
6. Home phone:
54
7. Work phone:
8. E-mail address:
9. Retirement date:
*ordinary disability
*accidental disability
*yes *no
55
14. Only for accidental disability
Describe the accident(s) and list any witness to it.
*yes *no
(If no, list the three fiscal years (July – June) in which you earned the highest
salaries.
(If you are naming a domestic partner, submit a photocopy of your certificate of
domestic partnership along with this application)
56
17. Spouse address:
Maximum
Other option
(Maximum: all the retirement benefits will go to the concerned person and not to any
beneficiary and after his/her death, no more retirement benefits would be given to
anyone)
(Other option: give a name of a beneficiary who would receive the benefit)
20. Relationship:
57
Signature of the employee Signature of the HR
Location / department:
Date of birth:
Marital status:
Single Married
Address:
Year of retirement:
58
Do you already have the health insurance?
Yes No
If No
I wish to be covered under:
I do not wish to be coved under any of the medical plans for the following reasons:
59
Dependent Information
Name:
Relationship:
Location/ Department:
Date of Birth:
Leave Designation:
Paid Leave
Vacation
60
Vacation in place of sick leave
Maternity leave
Compensatory time
Sick leave
*Illness/ injury
*Medical appointment
61
Necessary documents should be provided in case of sick leaves for more than 3 days.
I understand that approval of this request is contingent upon the availability of adequate
leave balances. Falsification of this application for leave or of the supporting
documentation is grounds for disciplinary action, up to and including dismissal.
There was a small survey conducted on the basis of compensation and benefit modules
which I have been developed for the company. The main objective of the survey is to get
the feed back from the employees on the developed modules.
COMPENSATION POLICIES
62
100
80
YES
60
NO
40 NO
20
YES
0
YES NO
Figure 1
Drawn from the sample we can come to the decision that 90% of the employees are
satisfied and 10% of the employees are not satisfied with compensation policies.
VARIABLE PAY
63
90
80
70
60
50
YES
40
NO
30
20
10
0
YES NO
Figure 2
Drawn from the sample we can come to the decision that 87% of the employees are
satisfied and 13% of the employees are not satisfied with variable pay techniques.
64
YES
NO
Figure 3
Drawn from the sample we can come to the decision that 95% of the employees are
satisfied and 5% of the employees are not satisfied with analysis of compensation and
benefits.
COMPENSATION PHILOSAPHY
65
80
60
40
NO
20
YES
0
YES NO
Figure 4
Drawn from the sample we can come to the decision that 80% of the employees are
satisfied and 20% of the employees are not satisfied with compensation philosophy.
66
100
80
YES
60 NO
40 NO
20
YES
0
YES NO
Figure 5
Drawn from the sample we can come to the decision that 83% of the employees are
satisfied and 17% of the employees are not satisfied with job evaluation technique.
67
YES
NO
Figure 6
Drawn from the sample we can come to the decision that 83% of the employees are
satisfied and 17% of the employees are not satisfied with compensation administration
process.
SALARY STRUCTURE
68
90
80
70
60
50 NO
40 YES
30
20
10
0
YES NO
Figure 7
Drawn from the sample we can come to the decision that 81% of the employees are
satisfied and 19% of the employees are not satisfied with salary structure.
COMPENSATION STATISTICS
69
100 YES
NO NO
50
YES
0
YES NO
Figure 8
Drawn from the sample we can come to the decision that 80% of the employees are
satisfied and 20% of the employees are not satisfied with compensation statistics.
VARIABLE PAY
70
80
60
NO
40
YES
20
0
YES NO
Figure 9
Drawn from the sample we can come to the decision that 77% of the employees are
satisfied and 23% of the employees are not satisfied with variable pay.
INCENTIVE PLAN
71
YES
NO
Figure 10
Drawn from the sample we can come to the decision that 86% of the employees are
satisfied and 14% of the employees are not satisfied with incentive plan.
STAFF RECOGNITION
72
160
140
120
100
NO
80 YES
60
40
20
0
YES NO
Figure 11
Drawn from the sample we can come to the decision that 80% of the employees are
satisfied and 14% of the employees are not satisfied with staff recognition.
RETIREMENT BENEFITS
73
100
80 YES
60 NO
40 NO
20
YES
0
YES NO
Figure 12
Drawn from the sample we can come to the decision that 92% of the employees are
satisfied and 8% of the employees are not satisfied with retirement benefits.
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5. SUMMARY OF FINDINGS,
RECOMMENDATION AND CONCLUSION
FINDINGS
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2. There is no lead, lag and match policy; there is a system of payment policy
in place.
10. There are both monetary and non-monetary benefits, which are given.
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3. Compensation management and performance should always be tied closely
together and be aligned with company goals.
7. To make a business case for an ECM solution, one should identity an executive
sponsor, pin point existing compensation inefficiencies, quantify hard dollar
productivity and strategic benefits, and identify and prioritize the functional
requirements and timelines for development.
CONCLUSION
For years, the purpose of the performance review has been to allocate annual salary
increases. While this process has generally been handled manually, it also has seen a
great deal of controversy and change. Compensation is truly the biggest driver of certain
types of behavior and works differently for various job groups. Incentive compensation is
a great tool to drive sales and specific performance targets, whereas base compensation is
a great tool for driving overall employee satisfaction and improving performance. What
has been missing in all links from compensation to performance is measurement of year-
over-year increases in performance and the impact that compensation has on
performance. Organizations that take an interactive view of the performance management
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process and ensure that compensation is just one of many outcomes, which might also
include promotion, new opportunities for learning and development, and other forms of
recognition, understand the importance of integrating performance and HRIS to measure
total compensation and rewards. Organizations that still rely on a manual, semi-
automated process as a once-a-year, meet-the-requirement tool will soon realize that the
war for talent and staffing shortages will make it necessary to approach pay-for-
performance as an integrated process.
Although almost all HR managers understand the importance of HRIS, the general
perception is that the organization can do without its implantation. Hence only large
companies have started using HRIS to complement its HR activities.
But HRIS would be very critical for organizations in the near future. This is because of a
number of reasons.
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BIBLIOGRAPHY
BIBLIOGRAPHY
www.macmillanindia.com
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www.google.com
www.alstavista.com
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ANNEXURE
ANNEXURE
QUESTIONNAIRE
I am Rajesh V.D student of Kristu Jayanti College doing the survey on HRIS with
reference to compensation and Benefit management, to fill full the parietal
requirement of Master in Business Administration for Bangalore University.
To find out the employees different opinion about compensation and benefit modules
questionnaire will be developed on the basis of which I have been developed
compensation and benefit modules in the organization. It will greatly influence on the
further development on this, also out come of this important to draw proper
recommendation and conclusions.
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Questionnaire on compensation and benefits
Designation:
No of years of experience:
Yes No
Yes No
Yes No
Yes No
5. Percentage of employees those who satisfactory and un satisfy with job evaluation
technique?
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Yes No
Yes No
Yes No
Yes No
Yes No
Yes No
Yes No
83
Yes No
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