Co Mpens Ation Ma Na Gement

CO MPENS ATION MA NA GEMENT

To pi c: Comparative analysis of compensation structure in FMCG sector

GR OUP MEMB ER S NAMES 3.

NAMEETA SONASKAR

5.

JAYA KUKREJA

ROLL NO 54

Intr od uction : 

Fa st Movi ng Cons um er Go ods (FM CG ), are the products that are sold quickly at relatively low cost.

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Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, teeth cleaning products, shaving products and detergents, as well as other non-durables

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compensation package represents the blend of rewards employees receive from the organization

Comp any 1 

Name of the company: Modi bakers

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Name and designation of the person interviewed: Mr.Ramesh v. Gambani (Modi). partner & production head,

Intr od uction of t he com pa ny:

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Modi bakers was initially started in the year 1960 since that time it is dealing in manufacturing of biscuits initially the name was modi biscuits later from the year 1988 it started its operations as franchise of parle products. and now it sales its products in the name of parle brand.

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it is also well known as bunty food products. it is into franchise business in badlapur for parle products since past 16 yrs whereas it has recently started its production unit in ulhasnagar just 6 months ago

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it majorly manufactures export quality products in its business unit which is not available as domestic sales.

com pan y st ructure a t m od i tr ader s: Directors Factory managers Supervisors Store keepers Workers

com pensat ion st ructur e at mod i t rader s: 

workers here are differentiated on gender basis like male and female

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salary structure is also diversified on the level of hierarchy (given on monthly basis)

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Male workers Rs 3500/Women workers Rs 3200 /Office department personnel Rs 7000 /Accountant Rs 8000 /Supervisors Rs 12000 /Main managers Rs 22000 etc

1.

Modi traders do not look into competiotors pay package to frame their compensation policy 1. Monthly wage book is prepared by them on regular basis and the labors are given salary slip printed officially on letter head of Modi traders. 5. Performance evaluation is done on regular basis i.e. weekly and monthly and eligible employees are promoted to higher position. 8. Rewards here consist of mainly non monetary aspects like lunch, cultural Programme trips to Shirdi etc for satisfactory performance to all workers.

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weekly meetings i.e. twice in 1week are conducted and suggestions for job improvements are collected a worker who has suggested a good suggestion is promoted to look for its effective execution along with higher pay.

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salary structure here is revised only on yearly basis, every year they are planning to give 10% increase in pay as the already practice in badlapur branch, they also intend to give bonus on diwali to all their workers 1 month salary as bonus. along with that it is also accomplished by free lunch and gift, trips etc.

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lastly they as such do not provide any pension / gratuity or and such deductions on salary to its employees at initial stage as it is a new unit but they are intending to apply the same in recent time.

Com pa ny 2 

Name of the company: Rajan sweets

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Name of the person interviewed: Manish chandvani

Intr od uction of t he com pa ny: 

Rajan sweets is into the business of manufacturing and selling sweets like plain & milk chocolate paste , plain & milk slab , ready Chocó paste, chocolate syrup since past 10 years.

com pan y str ucture a t R aj an sweet s: Director

Plant manager Supervisor Machine trainees Operator workers Workers

com pensat ion st ructure at R aja sw eets : The compensation package at Rajan Sweets on monthly basis is given as follows: 3.

Director Rs 25000/-

5.

Plant manager Rs 20000/-

7.

Supervisor Rs 15000/-

9.

Machine trainees Rs 10000/-

11.

Operator workers Rs 5000/-

13.

Workers Rs 3000/-

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traditional approach of appraisal is adopted here experienced workers are generally paid higher than non experienced ones.

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Experienced workers also carry on induction programme and traning of new workers.

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Wage book or accounts book is prepared monthly whereas no salary slips are given to the workers they are provided cash in hand .

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Reward for good suggestions mainly here consist of monetary aspects like a rewards of rs 251 is given to the worker if his suggestion is look to as acceptable.

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An employee who performs higher than targets set he is mainly taken into account for compensation appraisal such appraisal usually covers between 50-100 Rs per month.

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Salary structure is revise once in a year and appraisal is given by almost 10% every year since past 10yers.

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Bonus is given on diwali every year it mainly consist of half month salary. Eg: a worker who get 3000 salary at time of diwali he will get 1500 as bonus ie total he will get 4500 salary on diwali.

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Competitors evaluation with regards to compensation is generally not done here main reason behind this is they do not have major competitors locally.

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Progression in job grade is mainly determined on job only.

MURLI SOAP WORKS

Manufacturing of soap

INTRODUCTION established almost 50 years ago

HIERARCHY IN THE MURLI SOAP WORKS Manufacturing

Cutting the materials

Packaging

Loading

Unloading

COMPENSATION   

Workers are paid as per wages act Experience

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salary structure is revised bonus regular survey of their competitors

SWASTIK FOOD PRODUCTS PRODUCT-CONFECTIONARY PRODUCT AND TOFFEES

INTRODUCTION 

established four years ago

Manager of the organisation Administrator Supervisor Production operator Packing workers