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INTRODUCTION

EVOLUTION OF HUMAN RESOURCE DEPARTMENT


In 1973, Millat Tractors Limited was nationalized and started its operation under Ministry of Production In 1992, Millat Tractors was denationalized and was purchased by its own employees Salary Packages Compensation Packages Retirement Funds Appraisals

REWARDING
Millat Tractors Limited is among one of the companies who can proudly say that they are having satisfied workforce. They only reason for this achievement is that the company has proper rewarding and compensation packages for all levels of employee

Introduction

REWARDING
Millat Tractors Limited is among one of the companies who can proudly say that they are having satisfied workforce. They only reason for this achievement is that the company has proper rewarding and compensation packages for all levels of employee

PERFORMANCE EVALUATION
Executive Performance Evaluation Workers Performance Evaluation

COMPENSATIONS
All kind of monetary incentives or any other facility which the company provides to its employees

Direct Compensation basic pay, house rent etc

BASIC PAY
Category
Workers

Designation
Workers / Supervisors

Pay in Rs.
4000 9000

%age Increase
-25%

Lower Management

Asst. Manager/ Deputy Manager Manager / Senior

7000 9000

-28%

Middle Management

14000 17000

55% 21%

Manager
Top Management DeputyGen. Manager / General 22000 25000 29% 14%

mnager

House Rent
45% of their basic pay.

Indirect Compensation
Millat Tractors offers very attractive incentives as indirect compensation to its employees and they are:

Transportation
Top Management Rs.6,00,000 to Rs.10,00,000 Middle Management Rs.4,00,000 to Rs.6,00,000 Lower Management Rs.3,00,000 to Rs.4,50,000 15% of the car price as down 1/3 of the remaining 85% in six years. The supervisors and senior workers are provided with motorcycles on very easy terms.

Medical
Also two different hospitals are on the panel of Millat Tractors for the treatment of workers families.

Gratuity
10% of each employees basic salary goes to this fund every month by the company each month

Benevolent Fund
10 Years 1 salary each year 12 Years 1.5 salaries each year 15 Years 2 salaries each year Employee can get this money at the end of his service with the company.

Pension
retirement age 60 years Pension Fund = (2.5 x Number of Years of Service x Last Salary) 25 years of service

Entertainment
10% of their basic salary each month to entertain their guests in the company

Self Development
Provide opportunity for further study by sponsoring them

Bonus
2.9% of total profitability

Disable Fund
All employees contribute small portion of their salary each month in this fund.

Fair Price Shop


No profit no loss price

Hajj
10 employees each year from Hajj 3 people from executives and 7 from workers

ORIENTATION AND TRAINING


Familiarization with and adaptation to a situation or an environment

Inside Millat Tractors Limited Outside Millat Tractors Limited

CAREER PLANNING AND DEVELOPMENT EMPLOYEES RIGHTS AND DISCIPLINE


concept of organizational man

LEAVES
Sick Leaves (14 days side leave is allowed to executives and 10 days to workers ) Casual Leaves (20 days casual leave is allowed to executives and 14 days to workers ) Earned Leaves (33 days earned leaves are given to executives and 21 days to workers)

DISCIPLINE
Punctuality

Pilferage
Safety measures

LABOUR ISSUES, PROBLEMS & POLICIES

PROTECTING HUMAN RESOURCE


EMPLOYEE SAFETY AND HEALTH

IMPORTANCE OF HUMAN RESOURCE DEPARTMENT IN THE EYES OF TOP MANAGEMENT

HUMAN RESOURCE DEPARTMENT PERFORMANCE INDICATORS

TURNOVER RATE SALARY REVENUE RATIO


distributing 2.9% of its net profit to the workers every year

EMPLOYEES SATISFACTION AT MILLAT TRACTORS


SATISFACTION LEVEL OF TOP MANAGEMENT 1. SATISFACTION LEVEL OF MIDDLE & LOWER MANAGEMENT SATISFACTION LEVEL OF WORKERS

RECOMMENDATIONS RECOMMENDATIONS Our recommendations to the Millat tractors limited are as follows :
Increase the number of fresh graduates for internship because at present MTL is selecting few graduates and after 6month internship they select 5-6 employees so we recommend MTL to give fair chance to as many fresh graduates as possible for selecting right person for the right job. MTL should increase the direct and indirect compensation with this MTL workers will be more motivated and productive. Turnover rate in executives should be minimized.

REWARDING
Millat Tractors Limited is among one of the companies who can proudly say that they are having satisfied workforce. They only reason for this achievement is that the company has proper rewarding and compensation packages for all levels of employee

REWARDING
Millat Tractors Limited is among one of the companies who can proudly say that they are having satisfied workforce. They only reason for this achievement is that the company has proper rewarding and compensation packages for all levels of employee

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