Compensation Management and Employee Satisfaction

1
Internship Report
On
“Compensation Management
and Employee Satisfaction of
Premier Group of Company Ltd”
(This Internship is submitted in partial fulfillment of the requirements for the Degree of
Bachelor of Business of Administration with a Major in HRM)
Submitted To:
Kaniz Morshed
Lecturer
Departement of Business Administration
Port City International University
Submitted By:
Akash Datta
ID: BBA0105800
Program: BBA
Major in HRM
Departement of Business Administration
Port City International University
Submission Date: 11-07-2020

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Letter of Transmittal
11.07.2020
Kaniz Morshed
Lecturer
Department of Business Administration
Port City International University.
Subject: Submission of Internship Report on Compensation and Employee Satisfaction
Dear Madam,
With Due Respect, I would like to state that, it is a great pleasure for me to submit
the internship report on “Compensationmanagementand employee satisfaction
of Premier Group of Company Ltd” to you.
This internship program has helped me a lot to learn different things and also gain
practical knowledge as a result of which now I was able to make this report and I
would also like to thank you for your guidance. I honestly think that this study will
be able to help the future researchers and also to expand their knowledge. I have
tried my best to make this report as good as possible.
I therefore with due honor submit my report to you for further evaluation and also
to give me feedback on any mistake that I might have made while preparing this
report.
Sincerely Yours
_______________
Akash Datta
ID- BBA0105800
Batch 10(A)
Program- Bachelor of Business Administration

5
Executive Summary
In the present world human resource management plays a big role in
different organization. It generally focuses on the recruiting hiring and
managing qualified people for the organization as well as to ensure their
development in the organization. Premier Group is one of such business
organizations. Premier Group along with their efficient management system
and advance technology has proven to be one of the most popular and
successful organization. This is basically about the compensation
management and employee satisfaction of Premier Group.
In the first part of the report, the background objectives of the study, scope
of the study, Rationale of the study and problem statement are given. The
second part consists of the Company overview i.e. the mission vision,
historical background etc of the study. The third part is about the literature
view has been created by the information's given by renowned scholars on
compensation management and employee benefits. The fourth part is about
the methodology of the study and in the fifth part is about the research and
finding. The sixth part is about the report is about any suggestion that come
up as a result of the findings and in the seventh part the conclusion of the
report. The study generally talks about how effective their compensation
system is and how they can improve it in the near future.

6
SerialNo Particulars Page No
Letter of Transmittal ii
Acceptance Letter iii
Certificate iv
Preface v
Executive Summary vi
Chapter 1: Introduction
1.1 Introduction 2
1.2 Objectives of the Report 2-4
1.3 Scope 5
1.4 Methodology 5
1.5 Sources of Information 5
1.6 Limitation 5
Chapter 2: Company Overview
2.1 Origin the company 8
2.2 Structure of the company 9
2.3 Vision of the company 10
2.4 Mission of the company 11
2.5 Core Objective 11-12
2.6 Products of the company 12
Chapter 3: Compensation Management& Employee
Satisfaction
3.1 Compensation Management
3.2 Job Satisfaction 21
3.3 FACTORS CONTROLLED BY THE MANAGEMENT 22-23
3.4 Practices of the Premier Group of Company 23-15
3.5 Hiring Rate 25
3.6 Merit Increases 26
3.87 Salary Payment Days 26-28

7
3.8 Benefits 28-29
3.9 Compensation management system at Premier Group 29
3.10 Work Environment 30-31
Chapter 4: Findings & SWOT Analysis
4.1 Demographic characteristics of the respondents 56-58
4.3 To know the impact of compensation on Job satisfaction
4.4 SWOT Analysis
Chapter 5: Recommendations & Conclusion
5.1 Recommendations 60-61
Conclusion 61-62
Questionnaire 62
References 62

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1.1 Introduction
First of all my Utmost gratitude’s is to Almighty, Who give me the courage and
strengths to prepare the report. Beginning of the report I deem it is my duty to
record my appreciation and gratitude to few person who have helped me to prepare
this report in many ways. I am indebted to the authority for taking the initiative to
include practical assignment for the BBA Students. This has created an opportunity
for students to know the various aspects as well as the research-based study.
My teachers gave me detail instructions how to collect data from primary sources
as well as secondary sources. He spent his valuable time to give me theoretical
knowledge about research methodology of Human Resource Management. For
collecting data I want to Premier Group of Company. I interviewed DGM-HR &
Compliance (garments division) and other High official. They are very much Co-
operative and frank to give me data.
I feel highly obliged to my teacher and the official of the Premier Group of
Company Ltd.
1.2 Objectives of the report
The general objective of this report is to analyze Employee satisfaction Premier
Group of Company Limited.
To know about the company profile
To understand the HR practice of the company

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To know about the satisfaction of training program of employees in the
company.
To identify the HRM problems of company.
To provide some recommendations for improving the organization HR
practices
1.3 Scope
The scope for this report basically surrounded with Premier Group of Company
Limited. In this report mostly focused on practical observation. There was
interview and secondary data sources from sell147.com. As I was doing internship
in Premier Group Company Limited, Chittagong

11
Office, Human Resource Division, so for that reason scope of the study was only
restricted to the Human Resource Division of Premier Group of Company
Limited.
When I started doing report this areas I have focused on area which are as follows:
or employer.
.
.
1.4 Methodology
This analysis is basically a combination of primary and secondary data. The main
source of data is different officers from Premier Group of Company Limited. To
collect information I try to ask them and they responded to my questions and for
that reason that information was very much restrictive with the organization as
they want to keep these confidential.
1.5 Sources of information
For collecting data and information I have adopted variety of data collection
procedures. These are empirical reasoning; interviews, observation and experience.
This study has been conducted mainly on the basis of both primary & secondary
data. To some extend primary data are used and these are collected from relevant
journals, magazines newspapers etc. and also from publication of professional
institutes. Observation techniques also have been used in case of necessity.
However data used in this study has been further analyzed and processed for the
purpose of the study.
For secondary data I investigated some pdf documents, records and annual report.
On the other hand, primary data has been collected by the interview with the
several interviews with various types of employees of Premier Group of Company
Limited.
Primary Data:
Terminal office.

12
Secondary Data:
ort of Premier Group of Company Limited.
1.6 Limitations
All the officers of Premier Group of Company Limited were very cooperative and
helpful. But as it’s a large organization, so they had too busy with many
responsibilities. For this reason they couldn't manage proper time for serving the
information to me properly and to get clear knowledge .Furthermore, they have to
deal with a very competitive environment which is based on money related
activities. Task and limitations related with each other, every task has some
limitation and problem. Though I didn’t face any serious problem, therefore some
limitations in the period of making report which are as follows:-
monotonous.
While
collecting the data they did not disclose their internal policy that hampers the
organizational confidentiality.
not even disclose those points in front of us.

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Chapter Two:
Company Overview

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2.1 Origin of the company
Premier Group of Companies, ISO 9001-2000 certified, is engaged in
manufacturing 100% international standard and export oriented Sweaters. The
group believes in Customers satisfaction first. The company has been exporting its
products to the countries of Asia, Europe, Canada and USA
The group has two Garments Industries enriched with individual washing plants
with necessary machines for smoothening as to make the industries full fledged.
The products include Ladies, Men's, Children's, Cardigan, Winter Headwear.
Winter Gloves, Shawls, Scarves, ear muff etc and are made and manufacturing by
using raw materials from local sources and overseas countries such as South east
Asia and Europe. The group has developed its products in perfect harmony with
the necessities oft the people. A promise to the people of bringing multi
dimensional in its product Portfolios is a valuable asset of the Group. It is our
immense pleasure that the number of buyers are increasing as our products are
undoubtedly quality products and international Standard.
Professional management, sound financial polices and well established reputation
in home and abroad enables the group to undertake new projects.
Established in 1983 Premier Group has been set up by a good number of highly
experienced, well-educated Bangladeshi promoters who have excellent track
records in Industrial and trading business operations. The objective of the company
is not to make profit but also simultaneously contribute towards social and human
development through various altruistic activities.

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2.2 Structure of Premier Group of Company Ltd
2.3 Vision of Premier Group of Company Ltd.
The mission of Premier Group is to produce versatile and resourceful practitioners
with scientific, technological and social knowledge and equip them to overcome
the challenge of the 21st Century with the following Specific objectives:
 To develop Premier Group as an international standard institute of Apparel,
Fashion Design, Apparel Merchandising, Textile Technology and other
allied areas such as Trimming and accessories design, fashion modeling,
fashion photography, fashion marketing etc.
 To delivery international standard education in fashion and technology and
other areas as mentioned.
 To strengthen the Bangladesh export oriented RMG, textile and other allied
industries by providing technically skilled human resources;

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 To increase the overall efficiency and productivity of the RMG, Textile and
other allied sector through development of human resources.
 To develop technical competency and consultancy skill relating to local,
national and international issues on RMG, Textile and allied areas.
 To provide technical assistance in all aspects of Garments Manufacturing,
Designing, and marketing of the local Garment, Textile, Apparel and allied
industries.
 To keep close contact with the students and employers to fulfill their
intellectual and creative potential.
 To create opportunities for development and training of the employees and
staffs of the RMG, Textile and allied sector.
 To establish and maintain close links with the similar local and foreign
institutions to encourage exchange of staffs and students
2.4 Mission of Premier Group of Company Ltd.
 Premier Group proposed to establish itself as a “Center of Excellence” to
produce technically competent human resources for the RMG, Apparel and
allied sector of home and aboard emphasizing on innovation and creativity.
 Premier Group will be globally celebrated as the institution where students,
scholars, and teachers cross traditional disciplinary boundaries to stimulate
innovation, partner with creative industries worldwide, and develop
innovative design and business solutions. By focusing on the three major
goals, Premier Group will become stronger by conscious design and be
known as a strategic organization—one that applies available resources to
greatest effect to achieve its vision

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2.5 Core Objective Premier Group of Company Ltd.
# Active yearly sales target with minimum specified margin/CM.
# Procure raw materials at the best price & ensure they are in-house timely to
provide sufficient time to production.
# Produce& ship good quality goods on time every time.
# Control costs along with regular financial analysis & review.
2.6 Products of Premier Group of Company
T-Shirt Trouser

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Chapter Three
Compensation Management
&
Employee Satisfaction

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Compensation is a systematic approach to providing monetary value to employees
in exchange for work performed. Employee compensation may achieve several
purposes in recruitment, job-performance and job satisfaction."Employee
compensation refers to all forms of pay going to employees and arising from their
employment". Compensation can be defined as all the rewards earned by
employees in return for their labor. Compensation in typically divided into direct
& indirect components.
• Direct FinancialCompensation consisting of pay received in the form of wages,
salaries, bonuses and commissions provided as regular and consistent intervals.
• Indirect Financial Compensation including all financial rewards that are not
included in direct compensation and can be understood to form part of the social
contract between the employer and employee such as benefits, leaves, retirement
plans, education, and employee services.
• Non-Financial compensation referring to topics such as career Development
and advancement opportunities, opportunities for recognition, as well as work
environment and conditions. In determining effective rewards, however, the
uniqueness of each employee must also be considered. People have different needs
or reasons for working. The most appropriate compensation will meet these
individual needs. To a large degree, adequate or fair compensation is in the mind
of the employee. A good compensation strategy includes a balance between
internal equity and external competitiveness. Compensation and benefits affect the
productivity and happiness of employees, as well as the ability of your
organization to effectively realize its objectives. It is your advantage to ensure that
your employees are creatively compensated and knowledgeable of their benefits.

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3.2 Job Satisfaction
Job satisfaction is a general attitude which is the result of many specific attitudes in
three areas, namely (i) specific job factors; (ii) individual characteristics; and (iii)
group relationship outside the job. These factors can never be isolated from each
other for analysis. The approach which since to be opted is that job satisfaction is
the favorableness with which employees view their works. It results when job
requirements suit to the wants and expectation of the employees. However, a more
comprehensive approach requires that many additional factors be included before a
complete understanding of job satisfaction can be obtained. Such factors, such as;
the employee’s age, health, temperament, desires and level of aspiration should be
considered. Further, his family relationships, social status, recreational outlets,
activity in organizational labor-political or purely social, contribute ultimately to
the job satisfaction.
3.3 FACTORS CONTROLLED BY THE MANAGEMENT
i. Wages: Wages are the most important factor of the job satisfaction. Higher the
wages more the job satisfaction, but this is not necessarily lead to cover all
employees’ satisfaction. Studies show that in some cases salary was rated well
blow in job satisfaction, but security and opportunities for advancement by highly
educated class of people is much higher than salary.
ii. Working Condition: Comfortable working conditions are ranked an important
factor also. Better the working condition less will be fatigue and more will be job
satisfaction.
iii. Benefits: Other benefits have been ramped as an important factor also. Since
studies show that highly educated employees having a good pay give more
importance to benefits and facilities.
iv. Security : All the studies show that employees want a steady work The higher
will be the job satisfaction when there is a job security and vice -versa. But studies
also show that security is also less important to better educated persons.
v. Opportunity for Promotion: Studies show that after years in the job people
will give more importance to advancement than pay. Job satisfaction is more
ebullient where there are ample opportunities for career advancement.

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3.4 Practices of the Premier Group of Company
Salary Structure
The company’s salary structure is designed to attract and to retain highly qualified
employees. It is competitive with the salary structure of comparable companies
within Bangladesh. The Head of HR along with the MD are responsible for
framing the policy.
Procedure
Elements of the Salary Structure
The salary structure consists of the salary ranges for every job classified in
each salary code. The salary ranges have spreads designed to recognized
differences in qualifications, job performance and length of stay in a job
salary code. The salaries in each salary range recognize higher levels of
duties and responsibilities as the job salary codes go higher. Each salary
range has a minimal, a maximum, and a midpoint.
Classification of Jobs
Jobs are classified through job evaluation. Jobs with similar content are
classified in the same salary codeand have the same salary range.
Periodic Review of Salary Structure
The company reviews the salary structure and salary ranges periodically to
keep them competitive with comparable companies within Bangladesh.
3.5 Hiring Rate
These policies provide guidelines for hiring rates, which attract qualified
candidates. The Head of HR along with the MD are responsible for framing the
policy.

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Procedure
Guidelines for computing hiring rates are as follows:
 Below minimum salary range: Is offered to candidates who do not meet
the minimum requirement of the job. This should be limited to exceptional
cases. Primarily the objective of Premier Group is to recruit the right person
for the right job.
 Minimum of the range: Is offered to candidates who meet the minimum
requirement of the job.
 Above minimum of the range: Is offered to candidates who exceed the
minimum requirements of the job.
 Above mid-point of the range: Is offered to outstanding candidates whose
qualifications substantially exceed the minimum requirements of the job.
The salary rates on these four attributes shall be finalized by the Head of HR based
on the predetermined manpower budget. Salary offers must have the prior approval
of the Head of HR, the HOD, and the MD.
Review and SalaryIncrease:
These policies provide guidelines for planning salary increases.
Performance categorization
Management reviews the performance of each employee assigned to a whole job at
least once a year to determine his/her performance category. The review considers
job performance, and potential for promotion. This review is used in planning the
merit increases for the following year.

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3.6 Merit Increases
These policies provide guidelines for planning merit increases. Guidelines for
administrating merit increases are developed annually for all employees.
Eligibility criteria for a merit increase
 The employee holds a permanent job
 The employee’s performance category conforms to the Merit Increase
guidelines
 The amount the merit increases plus the base salary will not exceed
the maximum of the salary range. The merit increases is limited by the
range maxima
 The employees is not scheduled for voluntary or involuntary
termination or retirement within three months of the effective date of
the merit increase, with the expectation that an employee leaving the
company due to a company-limited age 58 separation is eligible for an
eared merit increase in accordance with normal guidelines, provided
the separation is not scheduled within one month of the merit increase
effective date.

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FactorInfluencing Merit Increase
 Performance, as indicated by an employee’s relative ranking versus peers
with the same performance category rating.
 Pay for the job, as indicated by the position of the employee’s salary in the
range and pay versus peers with more or less experience and higher or lower
qualifications.
 Plans for promotions, which reduce the need to adjust merits as an
employee’s salary approaches the maximum of his current range.
 Economic and business conditions, the business scenario of the company as
well as the business performance of KDS Garments.
3.7 Salary Payments Dates
These policies provide guidelines for payment of salary. Salary is paid on the 7th of
every month. In a situation when 7th is a holiday the payments date would be 10th.
3.8 Benefits
Premier Group provide different attractive amount of benefit to their employee.
The authority of Premier Group gives priority to employee preference and setup
strategy to retain highly qualified employees.
MedicalBenefitScheme
The objective of the Scheme is to provide financial assistance to meet the medical
expenses of the employees/ dependents. All confirmed employees of the company

27
covered under this Manual are eligible for Medical Benefits. The Head of HR after
consulting with the MD is responsible for developing and implementing the
Medical Benefits Scheme as per the Income Tax norms.
Benefits in Certain Cases
For new entrants who join in between the year, this Scheme will be applicable
from the date of confirmation. The medical benefits, in their case will be worked
out proportionately. It is done on the basis of annual basis quota allotment. The
employee leaving the company during the year due to any reasons will be entitled
to Proportionate medical benefit up to the last day of service. The employee, if any,
will refund the over-utilized amount.
Medical Benefits
Medical benefits under this Scheme will include
 The expenditure incurred by an employee/ charges paid on
conducting tests, or on the purchase of medicines or aids( viz.
Hearing, visual Dental etc.), doctor’s fees, etc. and expenditure
incurred in the hospital/nursing homes as an out-patients or in-
patients(excluding food and beverages expenses).
 Medical expenses will be borne by the company to the extent the
incumbent is eligible as per the salary structure.
Retirement Benefits
The objective of recruitment benefits is to provide social security or a safety net to
an employee when the person is superannuated. The Head of HR after consulting

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with the MD is responsible for developing and implementing the retirement
benefits scheme as per the Income tax norms.
Eligibility conditions for gratuity
 A minimum of 5 years’ service in the company from the date of joining.
 It is entirely funded by the company.
Benefit
On retirement or separation, an eligible employee gets gratuity
 For 5 years of continuous service- 5 times of last drawn gross salary
 For 7 years of continuous services – 7 times of last drawn gross salary plus
one fourth of last drawn =7x (1+1/4)
 For 10 years of continuous services- 10 times of last drawn gross salary plus
one half of last drawn=10x(1+1/2)
3.9 To identify the compensation management system at Premier
Group
Premier Group has a well managed compensation system but it is not enough to
just have a better compensation system its equally important to modify it timely.

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There are certain reasons for which Premier Group always try to keep their
compensation system updated.
However their basic compensation system is given below:-
Basic pays range of Premier Group according to posts of executives
Apart from all these they also receive bonuses and rewards for the work they have
performed along with other incentives and their increments at the time of
promotions also depends on their performances
Designation Pay
Junior Executive 10,000-14,000
Executive 15,000-20,000
Senior Executives 20,000-38,000
Assistant Manager 60,000-80,000
Manager 80,000-90,000
Senior Manager 1,00000 +

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Different types of compensationpackagesprovided for workers
Their promotions are also dependent on the performances and according to
Bangladesh Labor Law act. The base pay for the workers is also very satisfying for
most of them.
3.10 Work environment
Premier Group is fully controlled by privately. Its working environment is dynamic
good & hygienic and fine also follow & fulfill all terms of latest labor act.
Dynamic employees and officers are fully satisfied with this environment. Premier
Group is absorbing modern garments technology. All kind of modern garments
industry facilities are present in Premier Group. Premier Group decorates their
office as open office system.
On the other part, working environment is healthy. There exists friendly labor
Manager relationships.
Compensation packages Percentage of pay
Basic salary 60% (of gross salary)
House rent allowances 40%
Medical allowances 250
Transportallowance 200
Lunch allowances 650

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Chapter 4
Findings &
SWOT Analysis

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4.1 Demographic characteristics of the respondents
A total number of twenty-five (20) employees were selected to provide answers to
the structured questionnaire
Age Distribution
0
2
4
6
8
10
12
14
16
18
20
20-25 25-30 More than 30 Total
8
7
5
20
40% 35% 25%
100%
frequency
percentage
Figure:1
Age Frequency Percentage
20-25 8 40%
25-30 7 35%
More than 30 5 25%
Total 20 100%

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Figure 1
Analyzing the data obtained from the questionnaire, figure 1 showed that
respondents between 20-25 years representing 40% formed the majority where
respondents between the ages of 25-30 representing 35% and more than 30 were
representing 25% respectively.
Gender of Respondents
92%
93%
94%
95%
96%
97%
98%
99%
100%
Male Female Total
15 5 20
75% 25% 100%
percentage
frequency
Figure:2
Gender Frequency Percentage
Male 15 75%
Female 5 25%
Total 20 100%

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Figure 2
According to the figure 2 75% were male and 25% were female out of a sample
size of 20 employees.
No. of year’s experiences
Years of Experience No of Respondents Percentage (%)
3 - 6 12 60%
6 - 9 5 25%
More than 9 years 3 15%
Total 20 100%
12
5
3
20
60%
25%
15%
100%
0 5 10 15 20 25
6-Mar
9-Jun
More than 9 years
Total
Percentage (%) No of respondents Figure:3

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Figure 3
It was seen that 60% of employees ranged between 3-6 and 25% ranged to 6-9 and
more than 9 years were only 15%
Types of departments
There basically 7 types of departments in Premier Group
Departments Frequency Percentage
Accounts and finance Department 4 20%
Quality controlDepartment 3 15%
Information and technology Department 4 20%
Maintenance Departments 3 15%
Merchandising Departments 2 10%
HRD administration Department 2 10%
Production Department 2 10%
Total 20 100%

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FIGURE 4
Here this figure generally shows the type of responses received from each
department from accounting and finance department. A majority of 20% was from
both information and accounts departments 15 % were from quality control and
maintenance department and 10% were from HRD, Merchandising and production
department.
Does the compensation system get evaluated time to time?
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
4 3 4 3 2 2 2 20
20% 15% 20% 15% 10% 10% 10% 100%
percentage
Frequency
Figure:4

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Figure 5
In the long history of Premier Group the compensation system did get evaluated
time to time but sometimes it didn't as we have seen that 35% have agreed to this
but 55% of employees who are working there for a long time have seen it getting
0
2
4
6
8
10
12
14
16
18
20
Agree Strongly
agree
Neutral Disagree Strongly
disagree
Total
7
11
2
1
0
20
35% 55% 10% 5% 0%
100%
No of Respondents Percentage of Respondents
Agree 7 35%
Strongly agree 11 55%
Neutral 2 10%
Disagree 1 5%
Strongly disagree 0 0%
Total 20 100%
Figure:5

38
evaluated lot of times whereas about 10% of employees who were new to the
organization haven't seen it getting evaluated that much.
Is the compensation system fair to the responsibilities of the
employees?
No of
Respondents Percentage of Respondents
Agree 7 35%
Neutral 3 15%
Disagree 1 5%
Total 20 100%

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Figure 6
35 % of employees agreed that they are fairly paid whereas 40% strongly agreed
15% employees gave neutral answers whereas 5% disagreed and more 5% strongly
disagreed.
Does the organization provide good allowances?
0
5
10
15
20
Agree
Strongly
agree
Neutral
Disagree
Strongly
disagree
Total
7 8
3
1
1
20
35%
40%
15%
5% 5%
100%
No of respondents perc of respondents
No of Respondents Percentage of Respondents
Agree 6 30%
Neutral 4 20%
Disagree 0 0%
Total 20 100%
Figure:6

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Figure 7
It is clearly seen that 30% of employees agreed that the allowances rates were in
the organization while 50% were strongly agreed as there allowances rates were
good and 20% were said that the rates were both good and bad.
Are the incentives systems of the organization satisfying?
No of
Agree 8 40%
Neutral 4 20%
Disagree 2 10%
Total 20 100%
0
2
4
6
8
10
12
14
16
18
20
Agree Strongly
agree
disagree
Total
6
10
4
0 0
20
30% 50% 20% 0% 0%
100%
No of respondents
perc of respondents
Figure:7

41
Figure 8
40% of the employees of the organization strongly believe that the incentive
system is really better where 30% proclaimed that it was indeed very good but
20% of employees answered that its good and 10% believe that its average.
4.3 To know the impact of compensation on Job satisfaction
Job satisfaction
Satisfaction of the employees on the base pay
No of Respondents
Percentage of
Respondents
Satisfied 10 50%
Neutral 6 35%
Dissatisfied 4 20%
0
2
4
6
8
10
12
14
16
18
20
Agree Strongly
agree
disagree
Total
8
6
4
2
0
20
40% 30% 20% 10% 0%
100%
No of respondents
perc of respondents
Figure:8

42
Total 20 100%
Figure 9
Here we can see that out of 50% of employees are satisfied with their base pay and
30% are both satisfied and dissatisfied 20 % were not from a sample size of 20
people
Staff satisfaction on leave procedure and pay
No of Respondents
Percentage of
Respondents
Satisfied 14 70%
Neutral 4 20%
Dissatisfied 2 10%
Total 20 100%
0
2
4
6
8
10
12
14
16
18
20
Satisfied Neutral dissatisfied total
10
6
4
20
50% 30% 20%
100%
No of respondents
perc of respondents
Figure:9

43
Figure 10
Here we have seen that 70% of staff members were satisfied with the leave
procedure and pay system of the organization 20% were neutral and rest of the
10% members were not satisfied at all.
Satisfaction on different type’s awards and bonuses
No of
Respondents
Percentage of
Respondents
Satisfied 7 35%
Neutral 7 35%
Dissatisfied 6 30%
saisfied
Neutral
dissatisfied
total
0
5
10
15
20
No of respondentsperc of respondents
14
70%
4
20%
2
10%
20
100%
saisfied
Neutral
dissatisfied
total
Figure:10

44
Total 20 100%
Figure 11
35% of employees were satisfied on the types and amounts of bonuses that are
provided in the organization again 35 % said it's both satisfying and dissatisfying
and 30 % were dissatisfied.
Are the employees satisfied with the timing of their pay
No. of
Satisfied 11 85%
Neutral 6 30%
Dissatisfied 3 15%
Total 20 100%
7 7
6
20
35% 35% 30% 100%
0
5
10
15
20
25
Satisfied Neutral Dissatisfied Total
No of respondents
perc of respondents
Figure:11
1

45
Figure 12
About 55% of employees were satisfied with the timing of the pay but 35% were
neutral to the timing o the pay and rest of the 15% said that sometimes there is a
little late payment.
 Are the employees satisfied with the compensation benefits
and plans provided to them?
satisfied
Neutral
dissatisfied
total
0
5
10
15
20
no. of respondents
percentage of respondents
11
55%
6
30%
3
15%
20
100%
satisfied
Neutral
dissatisfied
total
Figure:12

46
No of
Respondents
Percentage of
Respondents
Yes 19 95%
No 1 5%
Total 20 100%
Figure 13
Most of the employees of i.e. 95% were satisfied on the compensation plans
provided to them. However 5% were dissatisfied.
Is the compensation system effective in giving better job security?
No of Respondents
Percentage
Respondents
Yes 16 80%
No 4 20%
Total 20 100%
Satisfied
Dissatisfied
Total
0
5
10
15
20
No of respondents perc of respondents
19
95%
1 5%
20
100%
Satisfied
Dissatisfied
Total
Figure:13
33

47
Figure 14
On the basis of responsiveness it was seen that 80% of the respondents think that
their compensation program provides good job security where 20% disagreed on
this.
Does the compensation system helps in increasing productivity
through employee satisfaction?
No of
16 80%
4 20%
20 100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
No of respondents No of respondents
Total
no
yes
Figure:14

48
Yes 15 75%
No 5 25%
Total 20 100%
Figure 15
75% of employees have seen that their compensation policy effects employees
productivity due to its effect on the level of satisfaction. But 5% of employees
disagreed as they didn't feel any change in their level of productivity.
15 75%
5 25%
20 100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
No of respondents perc of
respondents
Total
No
Yes
Figure:15

49
Is the compensation system too complex for employee satisfaction
No of
Respondents
Percentage of
Respondents
Yes 2 10%
NO 18 90%
Total 20 100%
Figure 16
92%
93%
94%
95%
96%
97%
98%
99%
100%
Yes
NO
Total
2
18
20
10% 90% 100%
perc of respondents
No of respondents
Figure:16

50
90% of employees think that the compensation policy of Premier Group is not that
complex while 10% think that the system is not so easy.
4.4 SWOT Analysis
SWOT Analysis means Strengths, Weaknesses, and Opportunities & Threats of a
particular company. Strengths are the advantages coming from the internal
business environment. Weaknesses are the internal bottlenecks. Opportunities
indicate privileges that come from the external business environment where threats
mark the external environmental disadvantages.
Strength
 Worldwide demand for good quality & cheaper products
 Flexible labor market for continuous improvement& growth
 Local yarn supplier & own knitting(Textile) sector
 Separate dyeing, finishing, printing, embroidery industries increases
 Have export relation of about 20 countries
 There exist strong backward linkage facilities
 Socially & environmentally compliant factories
 Adopting of clean & green production mechanism
 Greatcompetitive skills
 Qualified & experienced manpower
Weakness
 Lack of technology-oriented types of machinery & production system
 Can’t go with the flow of product diversification & short lead time
 Lack of forecasting & hypothetical analysis of order taking
 Dependency on some specific buyer order leads to low FOB price

51
 Higher bank interest & insurance policy
 Lack of variety of knit fabric producing capability
 In-house design & development team are not strong enough
 Not go with the flow of market & product diversity
 Ensure more logistics supports
 Sometime faces scarcity of raw materials
Opportunities
 Buyer attention on the Asian subcontinent market
 Open costing facility of many international buyers
 Research & education on these helps to flourish knowledge
 Buyer own initiatives to productivity improvements projects
 Competitors are moving in other business trends
 Presence of economic zone & infrastructure facility attracts a buyer
 Business expansion in the African subcontinent
 International Expo, textile fairs attracts global markets
 Excellent increment facilities
 Good reputation of the company among the others company
 Gathering & developing career by working with qualified & experienced
employees
 Good Working Environment.
Threats
 E-shop & variety of on-demand shops worldwide
 Internal competition of factories to grab order
 Shorter lead time & productdiversity accepted cordially by China
 High making cost& freight on board cost
 Gendered diversion of workforce makes shields for improvements
 Political & environmental crisis
 Competitors producing trendier & fancy items
 Global retailer lower price offer because of grading productsystems
 Safety issue, longer working hour, subcontracting leads buyer wrath

52
 Competitions producing more complex fabric as well as products
 Government imposes VAT & Tax on profit highly
 Government imposes new conditions for services which makes complex
situation
Chapter 5
Recommendations
& Conclusion

53
5.1 Recommendations
Employees should be monitored timely in order to know if the compensation
system needs to be evaluated Premier Group should also focus following factors
that are causing employee satisfaction/dissatisfaction on the pay.
 Measuring employee performance should be better scale.
 Paying employees well at the time of promotions.
 Trying to increase incentives along with the promotion.

54
 Trying to increase compensation and benefits according to market standard
analysis.
 Sharing some portion of profit with its all staffs.
 When profit will increase and increase of profit will bring more incentive
for employees. They can also try to collect information's regarding the
compensation policy.
 Sharing better co-operation between upper to lower employees.
Conclusion
In the end it can be concluded that Premier Group will need to take action to
improvise its compensation system, and make sure that all its employees and
workers are satisfied with it. If the Company follows the recommendations made in
this report, they can overcome the present problem and in the long run the
company will be benefited and it may become the market leader in near future.
There is no doubt that Premier Group has created a good reputation in the market

55
by its quality product and service. It should try to retain the hardworking
employees by paying them well.
Human Resource department of Premier Group will ensure hiring pool of
qualified, talented human recourses for themselves. Through attract, attain, and
retaining talent staffs by offering excellent compensation package to the talents HR
department will encourage them to move forward.
5.2 Questionnaire
Sec A Demographic characteristics
1. What is your age?
 20-25
 25-30
 30 and above
2. Sex of the respondent

56
 Male
 Female
3. No. of years of experience
 3-6
 6-9
 More than 9 years
4. Types of Departments
 Accounts and finance Department
 Quality control Department
 Information and Technology Department
 Maintenance Departments
 Merchandising Departments
 HRD administration Department
 Production Department
Sec B Compensation management
1. Does the compensation system gets evaluated time to time
 Agree
 Strongly agree
 Neutral

57
 Disagree
 Strongly Disagree
2. Is the compensation system fair to the responsibilities of the employees?
 Agree
 Strongly agree
 Neutral
 Disagree
3. Does the organization provides good allowances
 Agree
 Strongly agree
 Neutral
 Disagree
4. Are the incentives systems of the organization satisfying

58
 Agree
 Strongly agree
 Neutral
 Disagree
Sec - C Job satisfaction
1. Satisfaction of the employees on base pay
 Satisfied
 Neutral
 Dissatisfied
2. Satisfaction on leave procedure and pay
 Satisfied
 Neutral
 Dissatisfied
3. Staff satisfaction on different types of awards and incentives
 Satisfied

59
 Neutral
 Dissatisfied
4. Are the employees satisfied on the timing of their pay?
 Satisfied
 Neutral
 Dissatisfied
Sec- D Compensation management and Job satisfaction
1. Are the employees satisfied with compensation benefits' and plans provided
to them
 Yes
 No
2. Is the compensation system effective in giving better job security?
 Yes
 No
3. Does the compensation system helps in increasing productivity through
employee satisfaction
 Yes

60
 No
4. Is the compensation system too complex for employee satisfaction
 Yes
 No
References
1. [1] Adams, J. S. (2005), Inequity in Social Exchange, inBerkowitz, L. (Eds),
Advances in Experimental Psychology,Academic Press, San Diego, CA, Vol.
Vol. 2 pp.267-99.
2. [2] Akintoye, I. R. (2000). ThePlace of Financial Managementin Personnel
Psychology. A Paper Presented as Part of Personnel PsychologyGuest

61
Lecture Series Department of Guidance and Counseling, University of
Ibadan, Nigeria.
3. [3] Asia One, (2012). Singapore second lowest globally for job satisfaction:
Surveyhttp://www.asiaone.com/Business/News/Office/Story/A1Story
20120307-32179.html
4. [4] Aswathappa, M. (2005). The Impactof Teachers’ Demographic
Characteristics on the Level of Job Satisfaction in SecondarySchools in
River State: A Case Study of Teachers in Rivers State SecondarySchools.
Unpublished Master Thesis, Port Harcourt: University of PortHarcourt,
Nigeria.
5. [5] Beauregard, T. A & Henry, L.C. (2009). Making the Link between
Work-Life Balance Practices and Organizational Performance, Human
Resource ManagementReview, Vol. 19 No.1, pp.9-22.
6. [6] Borg, M. G., & Gall, J. M. (1985). Stress and Job Satisfaction among
Primary SchoolTeachers in Malta. Education Review, 41, 271-279.
7. [7] Bozeman, B. & Gaughan, M., (2011). Job Satisfaction among University
Faculty: Individual, Work, and Institutional Determinants. Journal of Higher
Education, 82(2), 154-186
8. [8] Bunning, R. L. (2004), Pay in the Organic Organization, Journal of
ManagementDevelopment, Vol. 23 No.7, pp.648- 63
9. http://203.82.207.199/sal/PrimierGroup -Profile.pdf

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