compensation mgt

Be Determined to Achieve the Goal

WELCOME TO OUR PRESENTATION

We Are…………

Nazia JahanID: 20153147

Name ID

Noman Siddique 20153139

Nazia Jahan 20153147

Md. Ali Akbar 20153149

Md. Sujon Mia 20153154

Compensation Practices of Incepta Pharmaceuticals LTD. 

Determining of compensation package

while recruiting

Job Evaluation for the position of Team Member MPO & Pharmacist

Compensable Factors

DegreeWeights Total1 2 3 4 5

Skill(40%)

Education 20% 40 80Experience 20% 20 20

Effort(30%)

Physical 15% 30 45Mental 15% 30 45

Responsibility (20%)

Effect of Error 10% 20 40Innovation 10% 10 30

Working Conditions

(10%)

Environment 5% 15 15Hazards 5% 15 25180 300

Medical Promotion Officer – 18,000.00

Pharmacist – 30,000.00

MPOPharmacist

Assessing the performance to ensure equity

Existing Employees

KPI RatingAchievement of KPIs Rating

90 - 100% 580 – 89% 470 – 79% 360 – 69% 250 – 59% 1

< 50% 0

Competency RatingLevel 1 Level 2 Level 3 Level 4 Level 5

Parameters 0 0.25 0.50 0.75 √

Theme 1 (Customer Orientation) √

Theme 2 (Execution Excellence) √

Theme 3 (Problem Solving) √

Theme 4 (Quality Focus) √

Theme 5 (Teamwork) √

Score 5.0

Finalizing of Rating

KPI Rating 4.00

Competency Rating 1.00

Overall Rating 5.00

Final Performance Rating = 20% of Competency Rating + 80% of KPIs Rating

Linkage of the Appraisal Process at Incept to Increment:

KRAs Competencies

Increment/Pay

Individual Performance

Increment % as on Individual Performance Rating/Score:

Individual Performance Rating/Score Increment % 4.5-5.0 30% 4.0-4.4 25% 3.5-3.9 20% 3.0-3.4 15% <3.0 10%

Hypothetical Example:

SL Name Functional Title Overall Rating

Current Gross (Tk.)

Increment %

Increment Amount

(Tk.)

Revised Gross (Tk.)

1. Noman Business Executive 5.00 50,000.00 30% 15,000.00 65,000.00

2. Nazia Business Executive 4.30 80,000.00 25% 20,000.00 1,00,000.00

3. Akbar Junior Business Executive 4.70 25,000.00 30% 7,500.00 32,500.00

4. Sujon Trainee Executive 3.90 28,000.00 20% 5,600.00 33,600.00

5. Rakib Senior BusinessExecutive 4.5 1,50,000.00 30% 45,000.00 1,95,000.00

IS THERE ANY COMPARISON?