SlideShare una empresa de Scribd logo
1 de 12
Descargar para leer sin conexión
HRM
COMPENSATION AND CAREER
PLANNING
Project By
Shantanu Bhople - 31
Gaurav Jadhav – 57
Mohit Gupte - 16
Varun Lamba - 27
Mayur Thakre - 52
Kokila Patel - 17
INTRODUCTION TO CAREER PLANNING
AND DEVELOPMENT
Meaning
Career planning meaning
Objectives
 Advantages
ESSENTIALS TO MAKE CAREER PLANNING
SUCCESSFUL
Support from top management
Large size of the organization
Proper selection of an employee
Fair promotion police
Publicity to create development
Continuity in the process
PROCESS OF CAREER PLANNING AND
DEVELOPMENT
 Analysis of personnel situation
 Projection of personnel situation
 Identifying career needs
 Selection of priorities
 Development of career plans
 Write up of formulated career plans
 Managerial planning
 Implementation
 Review and evaluation
 Future needs
CAREER LIFE CYCLE STAGES
Exploration stage
Establishment stage
Mid-career stage
Late career stage
Decline stage
SUCCESSION PLANNING AND STEPS
Identifying the key position
Appraisal of employees potential
Selection of the right person
Training and development
Placement
Performance review
MEANING AND ELEMENTS OF
COMPENSATION MANAGEMENT
Salaries & wages
Bonus
Incentives
Benefits of Incentives
Motivation
Innovation
Reduced supervision
Improve corporate image
Improved morale
Reduces absenteeism
Reduces employee turnover
Encourages initiative
Fringe benefits And Types
Retirement benefits
Disability insurance
Property fringe benefit
Education and training programme
Health insurance
Life insurance
Car fringe benefit
Other fringe benefits
OTHER TYPES OF COMPENSATION
Perquisites
Employee stock option plan
Retention bonus
Profit sharing
Gain sharing
Skill-based pay
FACTORS AFFECTING COMPENSATION
Demand and supply
Labour union
Ability to pay
Productivity cost of living
Government regulations
Prevailing market rate
Other factors
ESSENTIAL OF A SOUND COMPENSATION
SYSTEM
Definite plan
Competitive wages
Equal pay for equal work
Provision for appeal
Communication
Minimum wage
Revision

Más contenido relacionado

La actualidad más candente

Ppm lecture 10 11 planning, process, types
Ppm lecture 10 11 planning, process, typesPpm lecture 10 11 planning, process, types
Ppm lecture 10 11 planning, process, typesVishakha Agarwal
 
Management functions and leadership
Management functions and leadershipManagement functions and leadership
Management functions and leadershipIqra Nawaz
 
HRM Unit-II- BBA-III-Semester-Osmania University
HRM Unit-II- BBA-III-Semester-Osmania UniversityHRM Unit-II- BBA-III-Semester-Osmania University
HRM Unit-II- BBA-III-Semester-Osmania UniversityBalasri Kamarapu
 
Planning - Principles of Management
Planning - Principles of ManagementPlanning - Principles of Management
Planning - Principles of Managementshrinivas kulkarni
 
Eshaan Potential Appraisal
Eshaan Potential AppraisalEshaan Potential Appraisal
Eshaan Potential AppraisalEshaan Chhagotra
 
HRM - UNIT-3 notes BBA Osmania University
HRM - UNIT-3 notes BBA Osmania UniversityHRM - UNIT-3 notes BBA Osmania University
HRM - UNIT-3 notes BBA Osmania UniversityBalasri Kamarapu
 
Function of management
Function of managementFunction of management
Function of managementranjithkumarbs
 
Succession Management - What\'s Missing
Succession Management - What\'s MissingSuccession Management - What\'s Missing
Succession Management - What\'s Missingphauenst
 
Staffing- ppt class 12 business studies
Staffing- ppt class 12 business studiesStaffing- ppt class 12 business studies
Staffing- ppt class 12 business studiesPriyanka Rao
 
Chapter 3 - Planning
Chapter 3 - Planning Chapter 3 - Planning
Chapter 3 - Planning crsgaspar
 
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITY
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITYHRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITY
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITYBalasri Kamarapu
 
Functions of Management
Functions of ManagementFunctions of Management
Functions of ManagementPooja Yadav
 
Performance planning
Performance planningPerformance planning
Performance planningSoumesh Ghosh
 

La actualidad más candente (20)

Ppm lecture 10 11 planning, process, types
Ppm lecture 10 11 planning, process, typesPpm lecture 10 11 planning, process, types
Ppm lecture 10 11 planning, process, types
 
Management functions and leadership
Management functions and leadershipManagement functions and leadership
Management functions and leadership
 
HRM Unit-II- BBA-III-Semester-Osmania University
HRM Unit-II- BBA-III-Semester-Osmania UniversityHRM Unit-II- BBA-III-Semester-Osmania University
HRM Unit-II- BBA-III-Semester-Osmania University
 
Planning - Principles of Management
Planning - Principles of ManagementPlanning - Principles of Management
Planning - Principles of Management
 
Eshaan Potential Appraisal
Eshaan Potential AppraisalEshaan Potential Appraisal
Eshaan Potential Appraisal
 
HRM - UNIT-3 notes BBA Osmania University
HRM - UNIT-3 notes BBA Osmania UniversityHRM - UNIT-3 notes BBA Osmania University
HRM - UNIT-3 notes BBA Osmania University
 
Strategic Planning
Strategic PlanningStrategic Planning
Strategic Planning
 
Gmb 6070 session 2 - may 16th (fil eminimizer)
Gmb 6070   session 2 - may 16th (fil eminimizer)Gmb 6070   session 2 - may 16th (fil eminimizer)
Gmb 6070 session 2 - may 16th (fil eminimizer)
 
Mbo ppt
Mbo pptMbo ppt
Mbo ppt
 
Function of management
Function of managementFunction of management
Function of management
 
Succession Management - What\'s Missing
Succession Management - What\'s MissingSuccession Management - What\'s Missing
Succession Management - What\'s Missing
 
Planning
PlanningPlanning
Planning
 
Staffing- ppt class 12 business studies
Staffing- ppt class 12 business studiesStaffing- ppt class 12 business studies
Staffing- ppt class 12 business studies
 
Chapter 3 - Planning
Chapter 3 - Planning Chapter 3 - Planning
Chapter 3 - Planning
 
Staffing
StaffingStaffing
Staffing
 
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITY
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITYHRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITY
HRM UNIT-V- BBA-III SEM-OSMANIA UNIVERSITY
 
Strategic hrm
Strategic hrmStrategic hrm
Strategic hrm
 
Functions of Management
Functions of ManagementFunctions of Management
Functions of Management
 
Performance planning
Performance planningPerformance planning
Performance planning
 
Human Resource Management
Human Resource ManagementHuman Resource Management
Human Resource Management
 

Destacado

Strategic HRM: Developing compensation, benefits and job designs.
Strategic HRM: Developing compensation, benefits and job designs. Strategic HRM: Developing compensation, benefits and job designs.
Strategic HRM: Developing compensation, benefits and job designs. Edward B. Villanueva, CSM
 
Evolution Of Hrm
Evolution Of HrmEvolution Of Hrm
Evolution Of HrmSreenath S
 
Evolution of hrm
Evolution of hrmEvolution of hrm
Evolution of hrmKarthik Ram
 
Human Resource Management in Hotel Industry
Human Resource Management in Hotel IndustryHuman Resource Management in Hotel Industry
Human Resource Management in Hotel IndustryZeinul Haleem
 
Compensation Strategy
Compensation StrategyCompensation Strategy
Compensation StrategyCreativeHRM
 

Destacado (9)

Compensation (HRM)
Compensation (HRM)Compensation (HRM)
Compensation (HRM)
 
Hr Case Study
Hr Case StudyHr Case Study
Hr Case Study
 
Strategic HRM: Developing compensation, benefits and job designs.
Strategic HRM: Developing compensation, benefits and job designs. Strategic HRM: Developing compensation, benefits and job designs.
Strategic HRM: Developing compensation, benefits and job designs.
 
Evolution Of Hrm
Evolution Of HrmEvolution Of Hrm
Evolution Of Hrm
 
Evolution of hrm
Evolution of hrmEvolution of hrm
Evolution of hrm
 
Evolution of hrm
Evolution of hrmEvolution of hrm
Evolution of hrm
 
Human Resource Management in Hotel Industry
Human Resource Management in Hotel IndustryHuman Resource Management in Hotel Industry
Human Resource Management in Hotel Industry
 
HRM-JOB ANALYSIS
HRM-JOB ANALYSISHRM-JOB ANALYSIS
HRM-JOB ANALYSIS
 
Compensation Strategy
Compensation StrategyCompensation Strategy
Compensation Strategy
 

Similar a H.R compesation and career planning

How to conduct effective performance appraisals April 2011
How to conduct effective performance appraisals April 2011How to conduct effective performance appraisals April 2011
How to conduct effective performance appraisals April 2011Timothy Holden
 
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...dr m m bagali, phd in hr
 
People Manager One on One For 1st Manager
People Manager One on One For 1st ManagerPeople Manager One on One For 1st Manager
People Manager One on One For 1st Managernoviantakuswandi1984
 
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....dr m m bagali, phd in hr
 
Leadership Development Basics
Leadership Development BasicsLeadership Development Basics
Leadership Development BasicsBob Lawson
 
Cultivating Organizational Leaders
Cultivating Organizational LeadersCultivating Organizational Leaders
Cultivating Organizational LeadersLorraine McCrossan
 
Strategic HR Management and Planning
Strategic HR Management and PlanningStrategic HR Management and Planning
Strategic HR Management and PlanningHoor Iqbal
 
Hrm & selection. chpt 11
Hrm & selection. chpt 11Hrm & selection. chpt 11
Hrm & selection. chpt 11Chandan58
 
Planning to succeed March 2011
Planning to succeed March 2011Planning to succeed March 2011
Planning to succeed March 2011Timothy Holden
 
Strategic Hrm Training Development A Batch
Strategic Hrm Training Development A BatchStrategic Hrm Training Development A Batch
Strategic Hrm Training Development A Batchajithsrc
 
Performance management
Performance management Performance management
Performance management vildan esenyel
 
Difference Between Performance Management & Talent Managmentt
Difference Between Performance Management & Talent ManagmenttDifference Between Performance Management & Talent Managmentt
Difference Between Performance Management & Talent ManagmenttSheheryar Alvi
 
Performance management 1
Performance management 1Performance management 1
Performance management 1IMCOST
 

Similar a H.R compesation and career planning (20)

How to conduct effective performance appraisals April 2011
How to conduct effective performance appraisals April 2011How to conduct effective performance appraisals April 2011
How to conduct effective performance appraisals April 2011
 
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...
mm bagali..... performance.... productivity........HR.....HRM....HRD..... Man...
 
Succession planning
Succession planningSuccession planning
Succession planning
 
People Manager One on One For 1st Manager
People Manager One on One For 1st ManagerPeople Manager One on One For 1st Manager
People Manager One on One For 1st Manager
 
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....
mm bagali / HRM course / 2nd semester... PMS / Turnover / Retention / module....
 
Leadership Development Basics
Leadership Development BasicsLeadership Development Basics
Leadership Development Basics
 
Talent Management
Talent ManagementTalent Management
Talent Management
 
Cultivating Organizational Leaders
Cultivating Organizational LeadersCultivating Organizational Leaders
Cultivating Organizational Leaders
 
Top performance sales teams
Top performance sales teamsTop performance sales teams
Top performance sales teams
 
Strategic HR Management and Planning
Strategic HR Management and PlanningStrategic HR Management and Planning
Strategic HR Management and Planning
 
Role Play
Role PlayRole Play
Role Play
 
KPI Based Employee Performance Management
KPI Based Employee Performance Management KPI Based Employee Performance Management
KPI Based Employee Performance Management
 
Hrm & selection. chpt 11
Hrm & selection. chpt 11Hrm & selection. chpt 11
Hrm & selection. chpt 11
 
Planning to succeed March 2011
Planning to succeed March 2011Planning to succeed March 2011
Planning to succeed March 2011
 
Strategic Hrm Training Development A Batch
Strategic Hrm Training Development A BatchStrategic Hrm Training Development A Batch
Strategic Hrm Training Development A Batch
 
Performance management
Performance management Performance management
Performance management
 
Management Performance Appraisal
Management Performance AppraisalManagement Performance Appraisal
Management Performance Appraisal
 
Potential Appraisal
Potential AppraisalPotential Appraisal
Potential Appraisal
 
Difference Between Performance Management & Talent Managmentt
Difference Between Performance Management & Talent ManagmenttDifference Between Performance Management & Talent Managmentt
Difference Between Performance Management & Talent Managmentt
 
Performance management 1
Performance management 1Performance management 1
Performance management 1
 

Más de Gaurav Jadhav

Tqm,lean thinking, kaizen and its wastes
Tqm,lean thinking, kaizen and its wastesTqm,lean thinking, kaizen and its wastes
Tqm,lean thinking, kaizen and its wastesGaurav Jadhav
 
Export marketing assignment
Export marketing assignmentExport marketing assignment
Export marketing assignmentGaurav Jadhav
 
Product pricing in international markets
Product pricing in international marketsProduct pricing in international markets
Product pricing in international marketsGaurav Jadhav
 
Service Sector Gym project .
Service Sector Gym project .Service Sector Gym project .
Service Sector Gym project .Gaurav Jadhav
 

Más de Gaurav Jadhav (10)

Career Planning
Career PlanningCareer Planning
Career Planning
 
FDI in India
FDI in IndiaFDI in India
FDI in India
 
Tqm
Tqm Tqm
Tqm
 
Tqm,lean thinking, kaizen and its wastes
Tqm,lean thinking, kaizen and its wastesTqm,lean thinking, kaizen and its wastes
Tqm,lean thinking, kaizen and its wastes
 
Export marketing assignment
Export marketing assignmentExport marketing assignment
Export marketing assignment
 
Product pricing in international markets
Product pricing in international marketsProduct pricing in international markets
Product pricing in international markets
 
Service Sector Gym project .
Service Sector Gym project .Service Sector Gym project .
Service Sector Gym project .
 
Business ethics
Business ethicsBusiness ethics
Business ethics
 
Marketing research
Marketing researchMarketing research
Marketing research
 
SOLAR VEHICA
SOLAR VEHICASOLAR VEHICA
SOLAR VEHICA
 

H.R compesation and career planning

  • 1. HRM COMPENSATION AND CAREER PLANNING Project By Shantanu Bhople - 31 Gaurav Jadhav – 57 Mohit Gupte - 16 Varun Lamba - 27 Mayur Thakre - 52 Kokila Patel - 17
  • 2. INTRODUCTION TO CAREER PLANNING AND DEVELOPMENT Meaning Career planning meaning Objectives  Advantages
  • 3. ESSENTIALS TO MAKE CAREER PLANNING SUCCESSFUL Support from top management Large size of the organization Proper selection of an employee Fair promotion police Publicity to create development Continuity in the process
  • 4. PROCESS OF CAREER PLANNING AND DEVELOPMENT  Analysis of personnel situation  Projection of personnel situation  Identifying career needs  Selection of priorities  Development of career plans  Write up of formulated career plans  Managerial planning  Implementation  Review and evaluation  Future needs
  • 5. CAREER LIFE CYCLE STAGES Exploration stage Establishment stage Mid-career stage Late career stage Decline stage
  • 6. SUCCESSION PLANNING AND STEPS Identifying the key position Appraisal of employees potential Selection of the right person Training and development Placement Performance review
  • 7. MEANING AND ELEMENTS OF COMPENSATION MANAGEMENT Salaries & wages Bonus Incentives
  • 8. Benefits of Incentives Motivation Innovation Reduced supervision Improve corporate image Improved morale Reduces absenteeism Reduces employee turnover Encourages initiative
  • 9. Fringe benefits And Types Retirement benefits Disability insurance Property fringe benefit Education and training programme Health insurance Life insurance Car fringe benefit Other fringe benefits
  • 10. OTHER TYPES OF COMPENSATION Perquisites Employee stock option plan Retention bonus Profit sharing Gain sharing Skill-based pay
  • 11. FACTORS AFFECTING COMPENSATION Demand and supply Labour union Ability to pay Productivity cost of living Government regulations Prevailing market rate Other factors
  • 12. ESSENTIAL OF A SOUND COMPENSATION SYSTEM Definite plan Competitive wages Equal pay for equal work Provision for appeal Communication Minimum wage Revision