Compensation Management of Wipro
Compensation Management of Wipro
Compensation Management of Wipro
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
COMPENSATION COMPONENT
COMPONENT
Direct
compensation
Base Pay
Bonus
CONT
Indirect compensation
Company parties
Clothes
Phones/laptop
Retirement programs
NON MONETARY
Enhance
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
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.
PAY STRUCTURE
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.