Compensation Crisis By Group
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COMPENSATION CRISIS
GROUP – 4 Biraja Prasanna Dash Gyandev boxi Pooja Nial Preetam Debasish Sahoo Sabyasachi Barma
FACT….. • “COOKS” A PUNE BASED AUTOMOBILE COMPANY • FOUNDER OF THE COMPANY -RAM PRAKASH AND SHANTANU KAMBLE. • AJAY MALHOTRA VICE-PRESIDENT OF (HRD )DEPT OF COOKS. • COOKS DEALS WITH ENGINE PARTS, PISTON, PISTONS RINGS • ENGINE VALVES ETC. • TOTAL TURNOVER RS 3000 CRORE. • 1990 PUBLIC ISSUES- 30 CRORE • PROFITS 35 CRORE IN THE YEAR 1995-96 • PRESENTLY 450 WORKMEN(OPERATED IN 3 SHIFTS) • 100 MANAGER
MARKET SITUATION MARKET GROWTH 25% IN LAST COMPANY GROWTH AT 33% LAST DEMAND OF AUTOMOBILE PARTS 60%. EXPERIENCED MANAGEMENT JOINT VENTURES WITH FOREIGN
THREE YEARS YEAR INCREASED MANUFACTURES
ISSUES Employee
turn over rate rises. Lack the services of expertise. Service functions also experience departures . Failure to attract talented people. Old compensation package system. Grade structure is too long .
Taxation policy Initial
stage:
› Cash against vouchers for conveyance,
education & periodicals. › It was attractive & well accepted. Current
trend:
› Lesser proportions of salary is being paid
as cash reimbursements. › Consolidated salary instead of various allowances › Tax burden is borne by individual employees. ›
Leader-Follower
Cooks ranked 29th & 23rd in lowest & highest levels.
Cooks has to undertake a complete up gradation of managerial remuneration.
Should it be the leader in compensation by giving highest salary or stay as a follower.
Q&A It
should introduce base pay & performance based pay system. Base pay should be similar to other firms. Performance based pay should be very much lucrative. Equity theory should be taken care of. Broad banding Technocrats should be provided with better compensation. •
U O Y K N A H T
GROUP – 4 Biraja Prasanna Dash Gyandev boxi Pooja Nial Preetam Debasish Sahoo Sabyasachi Barma
FACT….. • “COOKS” A PUNE BASED AUTOMOBILE COMPANY • FOUNDER OF THE COMPANY -RAM PRAKASH AND SHANTANU KAMBLE. • AJAY MALHOTRA VICE-PRESIDENT OF (HRD )DEPT OF COOKS. • COOKS DEALS WITH ENGINE PARTS, PISTON, PISTONS RINGS • ENGINE VALVES ETC. • TOTAL TURNOVER RS 3000 CRORE. • 1990 PUBLIC ISSUES- 30 CRORE • PROFITS 35 CRORE IN THE YEAR 1995-96 • PRESENTLY 450 WORKMEN(OPERATED IN 3 SHIFTS) • 100 MANAGER
MARKET SITUATION MARKET GROWTH 25% IN LAST COMPANY GROWTH AT 33% LAST DEMAND OF AUTOMOBILE PARTS 60%. EXPERIENCED MANAGEMENT JOINT VENTURES WITH FOREIGN
THREE YEARS YEAR INCREASED MANUFACTURES
ISSUES Employee
turn over rate rises. Lack the services of expertise. Service functions also experience departures . Failure to attract talented people. Old compensation package system. Grade structure is too long .
Taxation policy Initial
stage:
› Cash against vouchers for conveyance,
education & periodicals. › It was attractive & well accepted. Current
trend:
› Lesser proportions of salary is being paid
as cash reimbursements. › Consolidated salary instead of various allowances › Tax burden is borne by individual employees. ›
Leader-Follower
Cooks ranked 29th & 23rd in lowest & highest levels.
Cooks has to undertake a complete up gradation of managerial remuneration.
Should it be the leader in compensation by giving highest salary or stay as a follower.
Q&A It
should introduce base pay & performance based pay system. Base pay should be similar to other firms. Performance based pay should be very much lucrative. Equity theory should be taken care of. Broad banding Technocrats should be provided with better compensation. •
U O Y K N A H T
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