ON EMPLOYEE COMPENSATION AT EDLOGIX SOFTWARE SOLUTION

INTRODUCTION

Employee Compensation and Reward system plays vital role in a business organization. PEOPLE are the most important and valuable resource every organization has in the form of its employees. Dynamic people can make dynamic organizations. Effective employees can contribute to the effectiveness of the organization Competent and motivated people can make things happen and enable an organization to achieve its goals. HR can help deliver organizational excellence by focusing on learning, quality, teamwork, and through various employee friendly strategies. If an ideal compensation system is designed, it will have positive impact on the efficiency and results produced by workmen. Such system will encourage the normal worker to perform better and achieve the standards fixed. This system will encourage the process of job evaluation. It will also help in setting up an ideal job evaluation, which will have transparency, and the standards fixing would be more realistic and achievable.

OBJECTIVES OF THE STUDY

1. To understand the functioning of HR in organizations with special reference to Employee Compensation practices. 2. To understand the different employee compensation programs in the organization 3. To know about the financial benefits and fringe benefits provided to the employees. 4. To know the feedback of employees on the benefits given to them 5. To suggest measures to improve the employee motivation through changes in the structure of compensation if required

NEED OF THE STUDY

1. The study focuses on employee compensation. This study is undertaken to the employee compensation at Edlogix Software Solutions. 2. Employee turnover has been identified as a potential obstacle, in implementing strategies. 3. Any practice/system that relies greatly on the active involvement of the employees who are naturally a critical factor in the successful implementation and sustainability of continuous improvement of systems and practices. 4. Fair employee compensation policies can control the employee turnover in a company.

SCOPE OF THE STUDY

1. Private sector organizations around the world face unprecedented

pressure to improve service quality while progressively lowering their costs. 2. At the same time, they are expected to become more accountable, customer focused and responsive to stakeholder needs. 3. Achieving these goals involves a transformation in management practices, processes and culture. 4. I have undertaken my study at Edlogix Software Solutions Pvt Ltd. This is a thorough and readable review of employee benefit practice which will interest all those faced with implementing or reviewing measure-and target-driven regimes.

METHODOLOGY OF THE STUDY

STATICALL TOOLS USED 1) Frequency Distribution 2) Questionnaire3) Cross tab 4) Co relation5) Factor Analysis 6) Scale Reliability RESEARCH OBJECTIVE To study the benefits of employees of Edlogix Software Solutions SOURCES OF DATA The data gathered through Primary and Secondary Data: Sample size was taken by 100 employees in Edlogix Software Solutions Pvt Ltd

LIMITATIONS

Every research project or analysis has specific boundaries over which we do not have a hold. Some of the project limitations include: Respondents were not ready to provide certain information. Respondents were a bit apprehensive in filling the questionnaire as they feared that their named will be revealed. Time constraint Some senior executives were not willing to share their actual views because they termed it as confidential. Questioning process influence the respondents

COMPANY PROFILE

Edlogix Software Solutions Pvt. Ltd. is an information technology services provider of software solutions and human capital needs to leading businesses across the globe. A long time player in the business, the company has helped clients maximize value from deploying their applications across various platforms and vendors. At Edlogix Software Solutions, we specialize in understanding your IT needs and working with you to find the resources that will help make your organization successful. At Edlogix Software Solutions, we maintain a substantial database of potential candidates that have already been screened and could potentially be a match for future clients.

Age Of Employees

Interpretation The data shows that out of 100 employees majority of employees are of age group 36-45. Which means that 55% of our sample size. And 35% comes under age group of above 46 years and only 10% of our sample size comes under age group of 25-35 years.

Employees Marital Status At Edlogix

Marital Status Single 44%

Married 56%

Interpretation The above graph depicts that 56 of the total 100 respondents are married and 44 employees are unmarried

Employees Satisfaction Towards Salary

Dissatisfied, 7

Satisfied, 28

Highly Satisfied, 65

Interpretation The above table shows 65% of employees Highly satisfied their salary, 28% of the employees satisfied , only 7% of the employees Dissatisfied with their salary.

Financial & Non Financial benefits importance

Disagree, 8 Strongly Disagree, 0

Agree, 20

Strongly Agree, 72

Interpretation The above table Shows 72% of the respondents Strongly agree their Financial and non Financial benefits are important,20% agree,8% of the respondents disagree their Financial and non financial benefits importance.

Benefits Compared To Other Companies

Interpretation Above table says that above 97 % employees agree that their company is providing them good benefits in comparison to the other companies which comes in that area. This means the employees always survey regarding the benefits. There is little percentage of my sample size who disagrees that is only one percent.

Satisfaction towards employee benefit programs

Dissatisfied 0% Very satisfied 7%

Interpretation By analyzing the data it is found that majority of the employees (93%) are satisfied. And no one from the sample size is dissatisfied.

Satisfied 93%

Benefits due on time

Strongly Disagree, 6 Disagree, 12

Agree, 18 Strongly Agree, 64

Interpretation: The above table shows that 64% of employees strongly agree who receive their benefits on time,18% agree,12% Disagree,6% of employees Strongly disagree who receive their benefits on time.

Join Another Company For Financial Benefits

Strongly Agree, 6 Agree, 8 Strongly Disagree, 30

Disagree, 56

Interpretation: The main aim of asking this question was to know will employee wants better salary as well as better benefits also. By this survey we found that out of sample of 100 employees , Most of the employees wants better salary as well as better benefits, Few of the employees dont care of benefits

Company Focus

Others 16%

Good Working Environment 28%

Providing Good Allowances 56%

Interpretation The above graph indicates that 56% are saying that company should focus on providing good allowances, 28% feel that Good working environment. 16% said some other activities

FINDINGS

From the analysis and interpretation, it is concluded that most of the employees are satisfied with the workplace and only few employees are not satisfied with the workplace, which are negligible in number. It is found that maximum employees give more importance to the benefits. It is concluded that near about all the employees are satisfied with benefits provided to them by the company. By the help of data interpretation it is found that all the employees of the sample size are satisfied by the welfare activities organized by the company. It is found that maximum number of employees gets benefits on time. There are some employees who say that we do not get the benefits on time. The data analysis shows that there are some employees who want to switch another organization. The analysis shows that they want more salary than benefits.

SUGGESTIONS

There are some employees who are very dissatisfied with recreational activities provided by the company like picnics etc. The company should take proper care of those employees and should try to find out why they are dissatisfied by these activities. There are some percentages of employees who do not get benefits on time. The company should try to give benefits on time to all employees. They should try to know whether the problem is from the company side or from the employee side. If the company is providing good benefits to all employees then why some employees wants to switch to another organization. The company should know where the problem is.

CONCLUSION

Employee remuneration & financial incentives, though present in most of the companies, have a modest presence in a companys compensation plan. Semi and non-financial incentives are present substantially in most of the companies. However, most of them are present more as a matter of routine procedure, rather than with a specific purpose to motivate employees. In a marketing organization, the incentives are linked to the amount of target sales achieved by an employee Suggestions schemes are aimed at reducing cost and as such, can be used in any manufacturing organization. Service or marketing organization, where the results or profits are determined by the efforts of the employees, would demand incentives, which directly boost the morale of the employees such as gain sharing or ESOPs. Incentives are beneficial to both- the organizations and the individual.

Thank you