INCENTIVES PAYMENT

METHODOLOGY
This project is prepared with the combination of theoretical knowledge as well as practical knowledge and a blend of advices and suggestion from the research guide of the project. Various books helped me out in extracting the theoretical ingredient. For doing anything rightly, it is necessary that one follows the correct method otherwise wont be able to achieve his goal properly. Hence how you do things is very important then have u done the things? & how fast have you done things? While making this project it was important to give due importance to the method of collecting the data for achieving the goal. This project is a research-based project & the information presented in the project is collected with the help of primary & secondary data. PRIMARY DATA: The design of the research project specifies both the data that are needed and how they are to be obtained. The first step in the data-collection process is to look for primary data like 1)questionnaires 2) online survey SECONDARY DATA : - Newspapers, - Magazines, - Websites - book

Finally , the project has been lucratively finished with various kinds of experiences gained throughout. It had been possible with my best efforts

EXECUTIVE SUMMARY

Today, employee benefits no longer include just insurance policies and loans. With the changing face of India Inc., organizations need to go a step further to ensure that benefit schemes instill a sense of job security.

If you ask a retired professional what they remember most about their workplace, their answer would probably be: a 9-5 routine, work and only work in these eight hours, a pay check at the end of every month and a constant struggle to save for a rainy day. Cut to the present job scenario where a workplace has become more than a place to earn your daily bread. It has, for many, become a second home as you end up spending more time there, than any other place, and have to contribute more, than just what is expected of you. This has led to both employers and employees extending themselves beyond just a 9-5 relationship. Employees, therefore, have high expectations, as far as benefits and remuneration, for the time and the effort they put into their work are concerned. However, according to a recent MetLife Survey, The Study of International Employee Benefit Trends, Indian employers are not maximizing the potential of benefits to fulfill business objective and generally offer employees few benefits besides life and health.

WHAT EMPLOYEES WANT?

The International MetLife Study reveals a disconnect between what benefits Indian employees say they need and want and the benefits Indian employers are prepared to offer. The top benefits that most Indian employers provide are benefits to control employee health and welfare costs and to help increase employee productivity. The survey finds workers are extremely concerned about basic financial worries such as adequate health insurance (82 per cent) and having enough money to live on (80 per cent). India employees top financial concerns regarding retirement include having enough money to take care of elderly parents or in laws (79 per cent) and running out of retirement money (71 per cent). Keeping this in mind, and the fact that Indian organizations have to measure up against global standards, the need of the hour is for employers to tailormake their employee benefit plans based on their employees priorities. Aadesh Goyal VP and global head-HR, Aricent says, We have initiated a Flexible Benefit Plan, which is individual specific where the employees get to choose which benefits are necessary for them. We have seen that majority of our people opt. for benefits that have maximum tax optimisation. Another priority that some employers have taken into account is the need of employees to upgrade their skills. We have an education enhancement programme where we offer monetary support to all employees who are eager to pursue higher education in their respective fields, explains Vikram Karayi, senior vice president Hr, Xansa. Apart from this, many organizations are also paying attention to the wellness aspect of employees. They offer meditation classes, language classes, games, reiki sessions e

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PARTICULARS
INTRODUCTION

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DEFINITION NATURE OF INCENTIVE SCOPE OF INCENTIVE PAYMENT EMPLOYEE INCENTIVES WHAT IS AN EMPLOYEE INCENTIVE PROGRAM INCENTIVE STRUCTURE FEATURES OF GOOD INCENTIVE PLAN CLASSIFICATIONS OF INCENTIVES TYPES OF INCENTIVES ADVANTAGES OF INCENTIVE PAYMENTS LIMITATIONS OF INCENTIVE PAYMENTS INCENTIVES MANAGEMENT INCENTIVES PLANS INCENTIVES SCHEMES IN INDIAN INDUSTRIES EXECUTIVES INCENTIVES STRATEGIC INCENTIVES PLANS EMPLOYEES STOCK OPTION PLAN ADVANTAGES OF EMPLOYEES STOCK OPTION PLAN DIS-ADVANTAGES OF EMPLOYEES STOCK OPTION PLAN MOST POPULAR INCENTIVE PLANS STEPS TO SETTING UP AN INCENTIVE SCHEME

HOW TO DEVELOP EMPLOYEE INCENTIVE PLANS 52 CONSIDERATIONS FOR EMPLOYEE INCENTIVE PLANS DECIDING UPON EMPLOYEE INCENTIVE PLANS 52 53