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Emerging Trends in Compensation & Rewards
An Overview
Compensation
• Provident Fund

• Gratuity

• Group Mediclaim Insurance Scheme

• Personal Accident Insurance Scheme

• Subsidized Food and Transportation

• Company Leased Accommodation

• Recreation, Cafeteria, ATM and Concierge facilities
Conti….
• Corporate Credit Card

• Cellular Phone / Laptop

• Personal Health Care (Regular medical check-ups)

• Loans

• Educational Benefits

• Performance based incentives

• Flexi-time
Conti….

• Flexi-time
• Flexible Salary Benefits
• Regular Get together
  and other cultural
  programs
• Wedding Day Gift
• Employee Referral
  Scheme
Conti….

• Paid Days Off
• Maternity Leave
• Employee Stock Option
  Plan
Seminar
Reward Strategies
• Certification
  sponsorships- like Six
  Sigma, Black belt, green
  belt.
• Good Growth Plan.
• Star of the Month
• Star of the Quarter
• Spot Recognition
• Team of the Month
• Team of the Quarter
• Quality Champion
• Best Employee Award
Changes
      New actions/goals              Traditional Programs of
                                          declining value
 Emphasis on employee
  engagement in health, energy,    Legacy compensation programs
  employer strategic goals          (longevity, shift, overtime, PAT
                                    vacation)
 Skill and Knowledge
  Attainment                       Non-consumer engaged
                                    employee health benefits
 Flexibility in work schedules
                                   Paper-based delivery of
 Emphasis on total                 services
  compensation
                                   Compensation based on service
 Compliance                        rather than skills and
 Productivity through business     performance
  simplification and technology
Emerging Trends
 Compensatory trends differ with age

 Different generations, different needs:

 Is compensation driven by gender ?

 Compensation v/s benefits

 Flexible compensation, the key to employee satisfaction

 ESOP – A step towards motivation

 Work life balance
Conclusion…

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Seminar

  • 1. Emerging Trends in Compensation & Rewards
  • 3. Compensation • Provident Fund • Gratuity • Group Mediclaim Insurance Scheme • Personal Accident Insurance Scheme • Subsidized Food and Transportation • Company Leased Accommodation • Recreation, Cafeteria, ATM and Concierge facilities
  • 4. Conti…. • Corporate Credit Card • Cellular Phone / Laptop • Personal Health Care (Regular medical check-ups) • Loans • Educational Benefits • Performance based incentives • Flexi-time
  • 5. Conti…. • Flexi-time • Flexible Salary Benefits • Regular Get together and other cultural programs • Wedding Day Gift • Employee Referral Scheme
  • 6. Conti…. • Paid Days Off • Maternity Leave • Employee Stock Option Plan
  • 8. Reward Strategies • Certification sponsorships- like Six Sigma, Black belt, green belt. • Good Growth Plan. • Star of the Month • Star of the Quarter • Spot Recognition • Team of the Month • Team of the Quarter • Quality Champion • Best Employee Award
  • 9. Changes New actions/goals Traditional Programs of declining value  Emphasis on employee engagement in health, energy,  Legacy compensation programs employer strategic goals (longevity, shift, overtime, PAT vacation)  Skill and Knowledge Attainment  Non-consumer engaged employee health benefits  Flexibility in work schedules  Paper-based delivery of  Emphasis on total services compensation  Compensation based on service  Compliance rather than skills and  Productivity through business performance simplification and technology
  • 10. Emerging Trends  Compensatory trends differ with age  Different generations, different needs:  Is compensation driven by gender ?  Compensation v/s benefits  Flexible compensation, the key to employee satisfaction  ESOP – A step towards motivation  Work life balance