Prominent examples of benefits are insurance medical, life, dental, disability, unemployment and worker's compensation , vacation pay, holiday pay, and maternity leave, contribution to retirement pension pay , profit sharing, stock options, and bonuses. Some people would consider profit sharing, stock options and bonuses as forms of compensation. You might think of benefits as being tangible or intangible. The benefits listed previously are tangible benefits.
Intangible benefits are less direct, for example, appreciation from a boss, likelihood for promotion, nice office, etc. People sometimes talk of fringe benefits, usually referring to tangible benefits, but sometimes meaning both kinds of benefits. You might also think of benefits as company-paid and employee-paid. While the company usually pays for most types of benefits holiday pay, vacation pay, etc. Nonprofits Can Complete for Employee Benefits. Also see the Related Info including Benefits.
Compensation is payment to an employee in return for their contribution to the organization, that is, for doing their job. The most common forms of compensation are wages, salaries and tips. Base pay is based on the role in the organization and the market for the expertise required to conduct that role.
Variable pay is based on the performance of the person in that role, for example, for how well that person achieved his or her goals for the year. Incentive plans, for example, bonus plans, are a form of variable pay.
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Some people might consider bonuses as a benefit, rather than a form of compensation. Some programs include a base pay and a variable pay. Without his guidance preparing this report would not be possible. I am thankful to all of them for helping and guiding me and for being nice and kind to me.
Core Values 8 1. Provide 23 3. People I contacted B. Questionnaire 6. Executive Summary Global Merchants Ltd is a sweater factory and also involved buying business. Global Merchants Ltd. Is a fast growing company that has substantial contribution in the economy of Bangladesh. Motivation is a key factor to every business.
Global Merchants Ltd, management provides their employees good environment and they also influences their employees with various facilities like smart salary, increment etc. For this reason the employees of Global Merchants Ltd. This also aims to have a sound human resource management strategy that attracts retains and motivates the valuable employees, it is important that the managers find out what the employees are looking for from their jobs. The company should constantly assess the employees motivation levels and also what they need, want or expect form their work.
The key to motivating employees and manage them in ways that lead to profits, productivity, innovation, and organizational effectiveness is to understand how to motivate them. Page No. Introduction Global Merchants Ltd.
The Most Desirable Employee Benefits
In response to growing demands of the customers nationally and internationally Global Merchants Ltd. The paper we originated as per the direction of the organizational supervisor Mr. And subsequently were approved by the faculty supervisor Mohd. This in turn would develop customer service, efficient time management in each organization.
Methodology of the study is almost descriptive which is based on both primary and secondary data. As in recent time the company is one of the medium employers in Bangladesh. In preparing report, a reliable source of collecting data is vital measures. In this report, both primary and secondary sources of information have been used. Primary data are observed and recorded as part of an original study. When the data required for a particular study can be found neither in the internal records of the enterprise, nor in published sources, may it become necessary to collect original data, i.
research paper 2 | Employee Benefits | Employment
After doing all of those we have submitted the report to the proper authority. However, the flowchart for preparing the report is: Fig: 1. Founded in , aims to offer the client complete fashion solution for their business. The company has expertise in both woven and Knitted garments and therefore, is in a unique position, able to provide commercial collection for the high street.
The team is made up of highly qualities personnel and is led by its founders who have over fifteen years experience in the business. Work with a small, select and trusted group of facilities. A woven factory is currently under construction in which we will produce denim and cotton twill garments. With our show room, sample room, and design facilities, in the same location.
The buyer has full and transparent access to the way that we work. Currently the company employee over workers, within team 80 key personnel who work in the merchandising department and others key department. The founder: Binu K Paul- Managing Director, In the fashion trade we decided to set up our own company and together in we saw our first big order. Buildings: There is only one building in the premise used for production.
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Number of total employees: Worker appox. To deliver a complete package that not only serves but exceeds the expectations of our clients. To set and maintain high quality standards in all aspects of our work, in our products and in our dealings with customers. Mission: A Mission is blueprint for success.
A company mission statement describes it present business scope. GML mission is to enrich the quality of life of people through responsible application knowledge, skills and technology. GML is committed to the pursuit of excellence through world class products, innovative processes and empowered employees to provide the highest level of satisfaction to its customers. Employee stringent quality control procedures. Trained personnel carry out tests that ensure product safety. We also pay close attention to the environment and follow all regulations applied to this area as well as understanding labour laws and regulations.
The quality control team at Global Merchants Ltd. Will ensure a strict adherence to performance and quality requirements for all goods, individual bye-lots, color approvals prior to shipment, fabric, yarns and accessories. It is our aims to provide our customers with the highest possible quality of product, thus ensuring that our customers return time and time again.
Personnel communicate on a daily basis with both the factory and the customer. We believe that this open relation ship is key to building a sustainable business with the long term in mind. The client is kept informed through out, we work on your behalf in the local environment and only. The highest standards are accepted.