Gnanam School of Business organized a Power talk on “Compensation and benefits Administration-Industry Practices” on 04/03/2018.The program commenced in the presence of Mr.Charles.P-Founder & Director of Kaarlo Training & HR solutions Pvt Ltd,Tiruchy ; Dr.S.P.S.Arul Doss, CEO, Gnanam School of Business and Dr.Anita Priya Raja,Associate Prof & Faculty Co-Ordinator of HR Club.
The Chief Guest, Mr.Charles addressed the students regarding the Compensation & Benefits. He correlated the various roles of HR Manager with the current industry.He also described each and every roles of HR Manager which includes Compliance ,Payroll ,Change Management ,Employee Relations, Recruiting ,Training ,Compensation Analyst ,Benefits. He spoke about the key issues regarding “Why People change their jobs?” and such issues are Lack of oppurtunities ,Organization Culture ,Salary ,Rewards & Recognitions.
Compensation means “All forms of pay going to employees and arising from their employment” (in simple terms compensation means Wages or Salary + Employee benefits + Financial rewards + Non-Financial rewards).He then explained the various components of Compensation and its classifications.Then the Benefits of total compensation was taught by him in detailed manner.He further explained the “Steps to design Compensation”.
Mr.Charles also explained the “Steps to design Compensation”.He also added that Compensation should be done as what the “Act” says.He also stated that while framing the Salary,all the Acts must be considered (Employee’s State Insurance Act,Employee’s Provident Fund Act).
After the session the students asked various questions and the doubts were clarified by the Chief Guest. The students of GSB were enriched and enlighted with his inspiring thoughts on “Compensation and benefits Administration-Industry Practices”.
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