Components of

compensation
submitted to- Prof. Amrita majumdar

presented by-kirti neha kullu MB/17/011

snehlata topno MB/17/042
anand vickey barla MB/17/037
CONTENTS
 INRODUCTION

 OBJECTIVES AND IMPORTANCE

 COMPONENTS

 CONCLUSION
MEANING

 Compensation is a systematic
approach to providing monetary
value to the employees in exchange
for work performed.

Compensation may be in both

monetary and non-monetary
form
OBJECTIVES
 Focus. You can encourage performance on specific
objectives by compensating the behaviours you desire

 Attract. If you don't pay a competitive wage, it puts
the company at a disadvantage to hire on the open
market.

 Retain. Low turnover is a goal. You want to keep
your top performers.

 Motivate. Fair compensation encourages good
performance. Though money is not the biggest
motivator, it can become a problem if it is too low
COMPONENTS

Monetary Non- Monetary

Wages & Incentives fringe benefits perquisites

salaries individual gratuity company car
hourly wages group club
medical membership
Monthly provident
wages fund stock option
bonus

challenging jobs responsibilities growth working

prospectus condition
CONCLUSION

We can say that good compensation can

increase the productivity of an
organization because it provides various
rewards bonus,schemes etc and its
compulsory for every organization
THANK YOU