Compensation notes, short and easy language, Study notes of Compensation and Reward Management

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Typology: Study notes

2020/2021

Uploaded on 04/13/2021

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SLIDE 2 -
We are fortunate enough to be living in a time where the workspaces can afford to
give us bean bags and a cozy work environment to work out of and where you are
allowed to feel a part of something bigger than you, something purposeful. Not just a
cog in the wheel. And so the new blood that is joining the workforce is looking not
just for a job but all the extra perks and quirks that come with it as well.
For instance, at MakeMyTrip, employees are given a lot more than just pay package.
While they are offered basic medical facilities, they are also offered perks like theme
days at offices, rock concerts tickets, enthusiastic sports activities.
Bharti Airtel offers flexible work hours, day care and grocery centres, fitness and spa
facilities, and 6 months leave for personal and education purposes.
Kotak Mahindra has movie screenings, annual family days, indoor and outdoor
games, and yoga.
SLIDE 4 -
AMAZON -
1. Employee health & Wellness
Taking care of their employees’ health and wellness is a priority. That’s why they
offer medical, prescription drug, dental, and vision coverage to all their employees,
regardless of their level, tenure, or position.
They also offer a medical advice line and counseling services that are completely
confidential and available 24/7. Amazon Care, a virtual clinic is also an option for
nurses to visit employees in the home.
2. Caring for families
With many options, employees can choose the benefits that are most valuable for
their personal situation. This includes child and eldercare providers. Amazon
employees have free access to a network of more than two million caregivers,
including nannies, babysitters and special-needs caretakers. Amazon provides a
variety of free resources for parents of children with autism and developmental
disabilities. They also offer adoption assistance for qualified domestic and
international adoption expenses including attorney fees, court costs, and travel.
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SLIDE 2 -

We are fortunate enough to be living in a time where the workspaces can afford to give us bean bags and a cozy work environment to work out of and where you are allowed to feel a part of something bigger than you, something purposeful. Not just a cog in the wheel. And so the new blood that is joining the workforce is looking not just for a job but all the extra perks and quirks that come with it as well. For instance, at MakeMyTrip, employees are given a lot more than just pay package. While they are offered basic medical facilities, they are also offered perks like theme days at offices, rock concerts tickets, enthusiastic sports activities. Bharti Airtel offers flexible work hours, day care and grocery centres, fitness and spa facilities, and 6 months leave for personal and education purposes. Kotak Mahindra has movie screenings, annual family days, indoor and outdoor games, and yoga. SLIDE 4 - AMAZON -

  1. Employee health & Wellness Taking care of their employees’ health and wellness is a priority. That’s why they offer medical, prescription drug, dental, and vision coverage to all their employees, regardless of their level, tenure, or position. They also offer a medical advice line and counseling services that are completely confidential and available 24/7. Amazon Care, a virtual clinic is also an option for nurses to visit employees in the home.
  2. Caring for families With many options, employees can choose the benefits that are most valuable for their personal situation. This includes child and eldercare providers. Amazon employees have free access to a network of more than two million caregivers, including nannies, babysitters and special-needs caretakers. Amazon provides a variety of free resources for parents of children with autism and developmental disabilities. They also offer adoption assistance for qualified domestic and international adoption expenses including attorney fees, court costs, and travel.
  1. Parental leave They celebrate the growth of all their employees’ families through a variety of benefits. They offer up to 20 weeks of leave to birth mothers and six weeks for parents who adopt. Plus, their Ramp Back program offers birth parents eight consecutive weeks of flexibility and partial work hours as they readjust to work schedules as new parents. Google Google has everything that an employee would expect from one of the largest companies in the United States in terms of market capitalization. Bicycles and electric cars to get staff to meetings, gaming centers, organic gardens, and eco- friendly furnishings.. They also have a Global Education Leave program which enables employees to take a leave of absence to pursue further education - all of which is covered by Google. Besides, employees are also free to being their pets to work! Google wants to make its employees' lives easier, and it's constantly searching for ways to improve the health, well-being, and morale of its employees. APPLE –
  2. Employees are treated to free beer and appetizers at the company's beer bashes -- not to mention some of the biggest names in music, Stevie Wonder, Demi Lovato, and OneRepublic have all performed at these semi-regular events.
  3. At Apple, new hires get 12 days of paid time off & it increases over time
  4. Apple employees get an annual 25% discount when they purchase an iPod, macbook, or iPad. The company also offers other discounts for family and friends, depending on the product. SLIDE 5 Did you know that employers are not required by law to offer certain benefits? Paid vacation time, sick time, and even insurance coverage are considered to be optional. 1. They cost money. The average set of employee benefits today is nearly equal to the amount paid out in salary. This is a level of expense that must be effectively managed. 2. There may be few choices available to certain employers. Small businesses are especially limited in the type of employee benefits they may be able to offer. This is because better benefits, especially retirement or pension plans,