Packages compensation management .ppt 2010 aliraza afzal, miss amna anjum, pimsat, 923232142480

3. Mr. Ali-Raza
Mr. Aabir-Husaain
Mr. Shahroz Khan

4. PACKAGES PRIVATE LIMITED

6. Established in 1956.
Provides premium packaging solutions for
exceptional value to individuals and
businesses.
Employ over 3000 people and had sales of
over US $ 100 million in 2004.

7. PAPER & BOARD
STATIONARY
CARTON BUSINESS UNIT
UNIT FLEXIBLE
BUSINESS UNIT
CONSUMER PRODUCTS

8. Manpower Less Than 10 Years Service 1,358
Between 11 And 20 Years 582
Between 21 And 30 Years 512
Above 30 Years 439
Executive And Management Staff 506
Supervisors 246
Workers 2,139
TOTAL 2,891

9. Attracts and retains outstanding people
by creating a culture that fosters
openness and innovation, promotes
individual growth, and rewards initiative
and performance.
To develop a duality work force & to
keep them with the company

11. Every body works deliberately towards the
environment for getting the reward.
Different things motivates different sort of people.
For some people money matters On the other hand
for others verbal appraisal is of great importance.
One of the most important thing which motivates
majority of people is “money”. “
Pay” in the other words.

12. Managing of benefits and compensation is a very
essential and important both for the employees and
employer.
Its not an easy task to retain and maintain the
skilled and capable employees.
Compensation managers have to manage this
program in such a way which makes employees not
only to stay longer with the organization but also
improves productivity.

13. Mr. Ali-Raza

15. It is a very tricky and important phenomena.
Packages considered all the internal and external factors like
companies Market position,
its resources, company’s year performance and progress after
viewing all these factors pays has been decided and they tend to
satisfied every employees needs and expectations
Induction Salary
Workers Min 9000/- per month
Skilled workers Min 12000/- per month
Executive Min 25,000/- per month

16. There are two types of traditional bases for pay
Seniority pay system
Seniority pay system reward employees with additions to
base pay periodically according to employee’s length of
service performing their job.
Merit pay system
Merit pay programs assure that employees compensation
over time should be determined, at least in part by
differences in job performance.

17. Bases for Pay Cont....
Most of the firms now-a-days using merit pay system
so do PACKAGES.
Merit pay system has many advantages
It rewards individual achievement
People motivated when they were recognized.
Its very good both for the employee and employers
People start working more effectively if they know that
their pay has been decided on the bases of their
performance.
That's why this pay system has been used in packages.

18. Bases for Pay Cont....
Seniority pay system has also been
used in packages but only for the
exceptional case who work for the
organization for so many years and
put extra effort and was very loyal so
in those case seniority pay system can
be used.

19. Mr. Shahroz Khan

21. Incentive or Variable Pay Plans
Incentive pay or variable pay rewards employees for partially or
completely attaining a predetermined work objective.
Companies use incentive pay to reward individual employees ,
teams of employees, or overall companies based on their
performance.
Company only provides with bonuses to their employees on their
performance.

22. Incentive cont....
All confirmed employees avail annual bonuses.
The criteria for the bonuses is that company give bonuses
maximum 7 multiply with their base salary
The bonuses has been given twice a year in January and in
august most probably.
Its on the base of individual incentive plans, concept of group
incentive plan is not much used in packages.

23. Incentive cont....
For example if someone’s salary is 9000 and get bonus 6 on
its base salary then
9000 x 6=54000 will be the bonus of that person.
But again its performance base so getting the 6 or 7 is not an
easy task employees performance has been observed and
evaluate very keenly.
Many incentive plans apply to other categories of employees
including sales professionals, managers, and executives

24. employees are the people who actually do the work.
The most widely used incentive for operational employees plan is
the PIECE WORK PLAN.
In this plan worker is paid a piece rate for each unit he or she
produces.
Other is straight piecework in which a person is paid a sum for
each item he or she makes or sells.
In packages these sort of incentives some times used but not
frequently
Its been used when there is urgent need for more production etc.

25. Managers play a central role n influencing divisional and corporate profitability
Most firms therefore put considerable thought into how to reward them.
Most managers get short-term bonuses and long-term incentives in addition to
salary.

26. Mr. Aabir-Husaain

27. Salaries
Bonuses
Incentives
Premium pay
Insurance plans
Social Assistance Analysis
Ambulance and Dispensary

28. Common time-off-with-pay periods include

31. Benefits and welfare schemes used by packages and considered as
one of the best firm for giving their employees such benefits.
Long Service Award – 30 Years Min Rs 20,000/- Max Rs
150,000/-
Haj (4 Persons / Year)
Scholarship To Employees Children For Higher Education (42
Scholarships Per Year)
Day Care Center
Social Security
Provident Fund/Gratuity/ Pension
 Sports Facilities
Children Mela