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COMPENSATION MANAGEMENT

OF

Submitted by:
Kamala Lochan Behera

CONTENTS
Introduction
Introduction
Objectives

of the Company

Components
Importance
Factor

affecting
Wipro Compensation Management
conclusion

INTRODUCTION
Compensation

is a systematic
approach to providing monetary &
non monetary value to employees in
exchange for work performed.
Compensation may be defined as
money received in performance of
work and many kinds of benefits that
an organization provides to their
employees.

COMPANY INTRODUCTION
Wipro Ltd (NYSE:WIT) is a global information technology,
consulting and outsourcing company with 154,297 employees
serving clients in 175+ cities across 6 continents.
The company posted revenues of $7.3 billion for the financial
year ended Mar 31, 2014.
Wipro helps customers do business better by leveraging our
industry-wide experience, deep technology expertise,
comprehensive portfolio of services and vertically aligned
business model.
Our 55+ dedicated emerging technologies Centers of
Excellence enable us to harness the latest technology for
delivering business capability to our clients.
Wipro is globally recognized for its innovative approach
towards delivering business value and its commitment to
sustainability.

OBJECTIVES
To

recruit & retain


qualified
employees.
To increase or
maintain morale.
To determine basic
wage & salary.
To reward for job
performance.

COMPENSATION COMPONENT

COMPONENT
Direct
compensation

Base Pay

Bonus

Long term incentives


Perks or perquisites

CONT
Indirect compensation

Insurance (health, eye).

Leaves (sick, holiday/personal)

Company parties

Clothes

Phones/laptop

Retirement programs

NON MONETARY
Enhance

dignity & satisfaction from


work performed.
Promote social relationship with coworkers.
Allocate sufficient resources to perform
work assignments.
Offer supportive leadership &
management.
Enhance physiological health,
intellectual growth.

IMPORTANCE
Job

description
Job analysis
Job evaluation
Pay structure
Salary surveys

JOB DESCRIPTION
Wipro InfoTech is a leading manufacturer of computer
hardware and provider of IT services in India and the Middle
East region.
Part of Wipro Ltd, the $6.98 billion conglomerate and global
leader in technology enabled solutions, the company leverages
on the parent's philosophy of 'Applying Thought' to enable
business results by being a transformation catalyst.
Backed by our strong quality processes and rich experience
managing global clients across various business verticals, we
align IT strategies to your business goals.
From simple changes in process to innovative solutions, we help
our customers harness the power of IT to achieve profitable
growth, market leadership, customer delight and sustainability.
Along with our best of breed technology partners, Wipro
Infotech also helps you with your hardware and IT
infrastructure needs.

JOB ANALYSIS

Job analysis(also known asWork analysis]) is a family of


procedures to identify the content of a job in terms of activities
involved and attributes or job requirements needed to perform the
activities.
Job analysis provide information to organizations which helps to
determine which employees are best fit for specific jobs.
Through job analysis, the analyst needs to understand what the
important tasks of the job are, how they are carried out, and the
necessary human qualities needed to complete the job
successfully. This list contains the functional or duty areas of a
position, the related tasks, and the basic training
recommendations. Subject matter experts (incumbents) and
supervisors for the position being analyzed need to validate this
final list in order to validate the job analysis.

]Job

analysis is crucial for first, helping individuals develop their


careers, and also for helping organizations develop their
employees in order to maximize talent.

JOB EVALUATION
Ajob evaluationis a systematic way of determining the
value/worth of ajobin relation to other jobs in an
organization.
It tries to make a systematic comparison between jobs to
assess their relative worth for the purpose of establishing a
rational pay structure.
Job evaluation needs to be differentiated fromjob analysis.

Every job evaluation method requires at least some basic


job analysis in order to provide factual information about
the jobs concerned.
Thus, job evaluation begins with job analysis and ends at
that point where the worth of a job is ascertained for
achievingpay equitybetween jobs.

PAY STRUCTURE

SALARY SURVEYS OF WIPRO

FACTOR AFFECTING
External

Internal

Demand

&
supply of labour
Cost of living
Society
Labour unions
The economy

Compensation

policy
The org.
ability to pay
Job analysis &
description
Employee

WIPRO COMPENSATION
MANAGEMENT:
Flexible Benefits.
Medical Assistance Plan and Medical claim
benefits.
Group Life Insurance Programme and Employee
Deposit Linked Insurance (EDLI) Program.
Wipro Cares Miltr
Kids @ Wipro (fun way of learning)
Fit for Life.
Eco Eye.

CONCLUSION
We can say that good
compensation can increase the
productivity of an organization
because its provides various
rewards, bonus, schemes etc. and
its compulsory for every
organization.