COMPENSATION

Compensation is the total reward that is received by employee for the exchange of the services that has performed in a company or organization. Compensation is deserved to be received by an employee and it can include either the direct pay or the indirect pay. The direct pay in this term means that it includes the salary and the wages and the indirect pay is received from the benefits program that they have. Compensation is mainly based on:

Market research about the worth of similar jobs in the marketplace, Employee contributions and accomplishments, The availability of employees with like skills in the marketplace, The desire of the employer to attract and retain a particular employee for the value they are perceived to add to the employment relationship, and The profitability of the company or the funds available in a non-profit or public sector setting, and thus, the ability of an employer to pay market-rate compensation.

Compensation includes payments such as bonuses, profit sharing, overtime pay, recognition rewards and checks, and sales commission. It also includes non-monetary perks such as a company-paid car and fuel, stock options in certain instances, company-paid housing, and other non-monetary, but taxable, income items. COMPANY INTRODUCTION TELENOR Telenor is the second largest telecommunication company in Pakistan in terms of subscribers. It not only provides benefits to their customers, but also keeps in mind the satisfaction and motivation of their employees. Telenor Pakistan has been presented the Best Place to Work Award by Pakistans reputed HR associations; and the Best Practices Award, presented by The Data Warehousing Institute. This shows the company commitment towards their employees and higher rate of satisfaction among employees which resulted in the recognition of Telenor throughout in Pakistan. The company has created 2500 direct and more than 25000 indirect employment opportunities in Pakistan. Out of which 99.9% of these employment opportunities belong to Pakistanis. The company designs its policies in such a manner that its employees are satisfied and the turnover is very low. Telenor provides the compensation and benefits to their employees in the form salary, incentive payments, also the commissions and annual & quarterly bonuses, some of these compensations are performance based while others are part of the regular pay package. MOBILINK

Pakistan Mobile Communications Limited, better known as Mobilink GSM, is the largest telecommunication service provider in Pakistan. It has become the market leader both in terms of growth as well as having the largest customer subscriber base in. There are about 5000 employees currently working in Mobilink of which 4500 are working on permanent basis and 500 on temporary basis. Among them approximately 5% are managers and operatives are 40%, rest are either contractual or not directly related to core business. There is a list of policies regarding the reward system at Mobilink. It offers both kinds of rewards: Intrinsic and Extrinsic. These awards include, Medical Care; Insurance; Vacations; Relocations; Credit advance policy provident policy; EOI; Recreation; Club Policy Travel; Education Assistance Policy; Mobile Phone; Business Mobile phone policy; Official Blackberry Policy etc.