current trends in compensation & benefits
TRANSCRIPT
Current trends in compensation & benefits
• Compensation is a systematic approach to providing monetary & non monetary value to employees in exchange for work performed.• Compensation is money received in
performance of work and many kinds of benefits that an organization provides to their employees.
Compensation component
compensation
monetary
direct indirect
Non monetary
• Base Pay• Bonus• Long term incentives• Perks or perquisites
Direct compensation Indirect compensation
• Insurance (health, eye).• Leaves (sick, holiday/personal)• Clothes• Company parties• Phones/laptop• Retirement programs
Current trends in compensation & benefits
Employee stock ownership
plans(ESOP)
Customised benefits
Flexible benefits
Flexible spending plans
Cafeteria plan
Performance related pay
Holiday package
Employee stock ownership plans(ESOP)
It provide employees the ownership of stock in the company.Beneficial as a tool to fetch loans from a financial institution.Tax benefits
Flexible benefits allow employees to pick benefits according to their choice.
Flexible benefits
Flexible spending plans
Customised benefits
Senior level managementAccording to the employee choice need, preference &
comfort.Niche compensation & benefit styleHigh investment for organization.
Examples of different organizations compensation and benefits plan
• Health care and dental care• Vacation days and holidays• flexible work hours• Maternity and parental leave• Google Child Care Center• Fuel Efficiency Vehicle• Employee discounts
• Financial Benefits & Compensation• Health & Family-Friendly Benefits• Vacation & Personal Time-Off• Employee Engagement • Community Involvement• Talent grooming
Thank you!!!
Pooja Singh-(26)