1. Compensationmanagement

3. The employees are motivated for better performance.

5. Bonus at the end of the year.

6. Economic benefits such as paid holidays, L.T.C.

7. Contribution towards insurance premium.

8. Transport and medical facilities.

10. Educational qualifications

11. Work experience

12. Hazards involved in works

13. Stability of employment

14. Demand for special skills

17. Fair wage

19. Piece wage plan

20. Skill-based pay

21. Competency-based pay

23. Competency-Based Pay Limitations(How many?) PricingCompetencies Competency-Based Pay SystemsKBP/SBP Maintenance ofCompetencies Training

24. Competency-Based Systems Outcomes

25. Rewards

29. rewards employees for years of service with the company.

30. Profit Sharing Plans

31. certain percentage of profits is distributed

32. Stock Options

33. employees are given the option of purchasing the company’s stock

34. Performance Bonus Plans

36. Non-monetary incentives Non-monetary incentives are used to reward participants for excellent behavior through opportunities.

37. Payment of bonus act,1965 Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Act, provided he has worked in the establishment for not less than thirty working days in that year. PAYMENT OF GRATUITY,1972 The Payment of Gratuity Act 1972 is a social security enactment. Gratuity shall be paid to an employee on the termination of his employment after she/he has rendered continuous service of not less than 5 years i.e. on superannuation, retirement, resignation, death or disablement due to accident or disease