Presentation on theme: "Does Compensation Motivate Yes No 50-50. Components !!!! A beautiful dream!!! American Salary British Home Chinese Food Indian Wife A nightmare!! Indian."— Presentation transcript:
Does Compensation Motivate Yes No 50-50
Components !!!! A beautiful dream!!! American Salary British Home Chinese Food Indian Wife A nightmare!! Indian Salary Chinese Home British Food American Wife
What Determines Compensation ? Worth of a job Market price of the job Internal Equity Issues Affordability of the company
What determines pay?? Pay Job Role Market Performance Competencies of Individual
Conveyance Dating Allowance Flexible benefit plan Basic HRA Bonus Retirement Benefits LTA CCA Car scheme
And then… Stock Options Kabhi Upar Kabhi Niche
Money As A Motivator !!! Which of the following best describes your attitude toward your job?
Money As A Motivator !!! Which of the following best describes your attitude toward your salary?
Pride In The Job And The Organization All in all, how would you rate your organization as a place to work compared to other organizations with which you are familiar?
What are your plans for staying with or leaving the organization? I am proud to work here
Best Employers in India Infosys Technologies Procter & Gamble Hewlett-Packard (India) Smithkline Beecham Satyam Computer Agilent Technologies BHEL American Express(India) Colgate Palmolive Gillette India Hughes Software Systems Tata Steel Indias Biggest Wealth Creators
And why are they best employers? Informal gathering Career Development 360 degree feedback Cross functional training Sends people to the homes of employees Family members shown around the premises Quality of work life Involvement of Senior Management Regular Communication Building Culture and Pride
People Strategy Job Content Compensation Work Environment Culture Learning Opportunities Overseas Exposure Image of the organisation
Retention Strategy Earning LearningPride Fun
10 Key Factor Survey Being treated with respect Being treated fairly Flexible scheduling Money/pay Fun place to work Helpful supervisor People (co-workers) Work performed Opportunity to learn new skills Opportunity for advancement How are we doing? Give your organization a grade (A, B, C, D, or F) for each criteria listed below.
What can YOU do? Educational workshops off premises Best employee of the month/quarter Lunch with Top Bosses Frequent Recognition Week end parties Learning Opportunities Re-work Incentive plans Employee parking place Feature in in-house magazine Certificate of Appreciation Get people to refer for jobs in the organisation
What else? Personal Thanks Pass around trophy Read positive letters from Customers Name days in employees honor Wall of fame Pack lunch for employees Feature in company ads Part of special projects
Action Planning What changes will you make to help your organization meet its challenges in working with today's young workers? 1. Which ideas made the most sense to you? 2. What did you find that you most agreed with? 3. List three actions you will take because of today's session.
You must get money to chase you, but never let it catch you.