Compensation Plan

Prepared by: Sadia Afrin

Reducing TurnoverPerson

Focused Pay

Pay for Knowledge

& Skill1. Competitive compensation

strategy2. Ensures

organizational flexibility

3. Encourages innovations

and adaption with changesInspire

Building Competencies & Motivate

Reducing Turnover

Reducing AbsenteeismDiscretionary Benefit Services

Employee Assistance Programs

1. Attracts quality

employees2. Meets the

need of diverse

workforce3. Have

competitive advantage

4. Motivates employees

Reducing Absenteeis

m

Reducing Sick & Earned LeaveDiscretionary Benefit Services

Wellness Programs

1. Attracts quality

employees2. Meets the

need of diverse

workforce3. Have

competitive advantage

4. Motivates employees

Reducing Sick & Earned Leave

Reducing Low Production RateIncentive

PayCompany-

Wide Incentive Plan

Profit Sharing

Plan1. Increases productivity 2.Creates a

sense of ownership 3.Satisfies employees

4.Builds strong

manpower

Reducing Low

Production Rate

Recommendations

•Compensation Plan should Cover All Areas

•It should be able to Meet All Problems•It should be a Combination of Strategies•It should be Competitive & Advanced•It should be Flexible & Creative

Thank youAny Question?