Compensation and Benefits Management Assignment III

Arun Cherian 34107

Arnav Ghatak 34116

Anant Sagar 34136

Chintan Shah 34144

Abhilasha Gautam 34114

Abdul Khan 34122

Anit Singh 34205

Sofia Parveen 34243

BUSINESS STRATEGY
To be a partner of choice for Media Firms across all segments by providing a diversified portfolio of products and services To provide customized solutions, high quality support and system integration services to clients To offer module based and service based differential pricing models to clients to maximize customer value To optimally utilize the existing human resources to ensure reduced cost burden on the organization.

HR STRATEGY Differentiation
To attract, develop and retain the best talent in the industry. To ensure adequate training and development is provided to existing resources to reduce deployment time as well maximize performance. To pay at equivalent levels to other IT companies in the industry To ensure resources are efficiently deployed across projects to reduce costs. To create an open and collaborative culture ensuring respect of employees across all levels.

Value
COST Cost

HR Strategy To attract, develop and retain the best talent in the industry. To ensure adequate training and development is provided to existing resources to reduce deployment time as well maximize performance. To pay at equivalent levels to other IT companies in the industry. To ensure resources are efficiently deployed across projects to reduce costs. To create an open and collaborative culture ensuring respect of employees across all levels.

Internal Alignment

To ensure internal equity amongst people across the organizational structure To ensure commitment and engagement from all employees

External Competitiveness
Employee Contribution

To pay at 75th Percentile of the Market for Fresher and 90th Percentile for senior Positions To ensure an optimum pay mix to ensure pay levels are suited to external economic scenario

To ensure merit based compensation for high performers through performance based incentives To ensure continuous learning across all levels by incentivizing faster development

Management

To ensure all employees understand their compensation plans effectively To incorporate continuous feedback to identify any impending issues or needs

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15 10 12 10 8 6 3 4 2 0 0 BA,BSc, BE, Bcom Btech, BL 8 4

Methodology Center Sample

Administered a Dipstick Survey using a structured questionnaire PT InfoTech Solutions Pvt. Ltd., Gurgaon , India
8 7 6 5 4 3 2 1 0

5 0

3
0 0 Ph D

Males
7

Females

MA, PG ME, MSc, Diploma Mtech, Mcom MBA, MLL

15 Respondents across all positions

1 Project Manager

1 HR

Sample Distribution Mean age

PFA the Excel sheet containing the data of our survey as well as the hypotheses testing:

Software Senior Developer Software Developer

Team Leader

IT Engineer Accounts Manager

24.47 years Mean Work Ex. 27.93 months

Internal Alignment
1) Compensation policy direct behaviours toward Organization objective. 2) Compensation policy is Fair. 3) Compensation policy supports work flow.

External Competitiveness
1) Externally Competitive in how organization is paying.

Employee Contribution
1) Pay increases are based on individual or team performances. 2) Pay increases are based on Experience/Skills/ Learning. 3) Pay increases are based on needs of employees.

Management
1) Management policies are clearly understood.

Null Hypothesis for Testing (H0)

2) Externally Competitive in what organization is paying. NA

2) Policies and Frameworks are employee friendly. 3) Organization has robust systems in place.

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Component Internal Alignment Null Hypothesis Compensation policy direct behaviours toward Organization objective. Compensation policy is Fair. Compensation policy supports work flow. External Competitiveness Externally Competitive in how organization is paying. Externally Competitive in what organization is paying. Employee Contribution Pay increases are based on individual or team performances. Pay increases are based on Experience/Skills/ Learning. Pay increases are based on needs of employees. Management Management policies are clearly understood. Policies and Frameworks are employee friendly. Organization has robust systems in place. Z-Statistic 2.012463 Significant Z value 1.644854 Significant/ Not Significant Significant.

4.07508 1.863179 0.074007 0.563254 3.296353 0.810208 1.666143 1.948007 3.029931 2.482575

1.644854 1.644854 1.644854 1.644854 1.644854 1.644854 1.644854 1.644854 1.644854 1.644854

Significant. Significant. Not Significant. Not Significant. Significant. Not Significant. Significant. Significant. Significant. Significant.

Strategy
To create an open and collaborative culture ensuring respect of employees across all levels To attract, develop and retain the best talent in the industry To ensure adequate training and development is provided

Findings
Through Hypothesis 6 we see that Compensation policy is able to direct behaviors toward Organization objectives Through Hypothesis 4 and 5 we see that organization is not externally competitive, hence it may not be able to attract the best talent in industry Since pay increases are not based on Skills and Learning(Hypothesis 2) hence it implies the organization does provides ample opportunities for training and development Since organization is not externally competitive, hence it is not able to pay as much as other IT companies Since pay increase is based on new skills attained and individual/team performance hence organization is trying to optimally utilize the existing human resource to cut cost

Aligned

To pay at equivalent levels to other IT companies in the industry To optimally utilize the existing human resources to ensure reduced cost burden on the organization