A STUDY ON COMPENSATION AND REWARD MANAGEMENT

IN RYNAS INFOTECH PRIVATE LIMITED COMPANY

Project Report Submitted in partial fulfilment of the requirement for the

Award of the degree of

MASTER OF BUSINESS ADMINISTRATION

OF

BENGALURU CITY UNIVERSITY

By:

BHAGYA LAKSHMI.C

Register No: MB198211

Under the Guidance:

Mrs. SUDHA

Assistant professor

GIBS B SCHOOL
Bengaluru City University
 Declaration

I hereby declare that “A Study on compensation and reward management in Rynas info tech private
limited company’’ is the results of the project work carried out by me under the guidance of Mrs. SUDHA
in partial fulfilment of the award of Master’s Degree in Business Administration by BENGALURU
CITYUNIVERSITY.

I also declare that this project is the outcome of my own efforts and that it has not been submitted to any
other University or Institute for the award of any other Degree or Diploma or Certificate.

Place: BENGALURU Name: BHAGYA LAKSHAMI.C

Date: Register No: MB198211

 GUIDE CERTIFICATE

This is to certify that the report on “A Study on compensation and reward system in RYNAS
INFOTECH Private Limited Company’’ submitted by BHAGYA LAKSHAMI.C(Register no:MB198211)
to BENGALURU CITY UNIVERSITY, for the award of Degree of MASTER OF BUSINESS
ADMINISTERATION is a record of work out by her under my guidance.

Place: BENGALURU

Date: Signature
 WORK DONE DAIRY

Week Dates Work Carried Out Signature Of Faculty

Guide

1 12/10/2020 Introduction

2 19/10/2020 Methodology

3 26/10/2020 SWOC Analysis and

outcomes of the study

4 02/11/2020 Experiences,
Learning’s and Conclusions
 TABLE OF CONTENT

CHAPTER NO CHAPTER NAME PAGE NO

1 Introduction 01 - 15

2 Methodology 16 – 19

3 3.1 Company profile And 20 – 29

3.2 SWOC Analysis

4 Outcome of the study 30 – 41

5 Experiences, Learning’s and conclusions 42 – 43

 List of Table

Table No Description Page no

4.1 Table shows employee monthly income 27

4.2 Table Showing the reward and management system is affected 28

by employee qualification

4.3 Table showing how many employees know about program of 29

reward and compensation in Rynas Info tech company.

4.4 Table shows the feeling of employee towards a appreciated. 30

4.5 Table shows the different rewards based on the performance. 31

4.6 Table shows many months the company is taking for appreciate 32
employee.

4.7 Table shows did the employees are happy with the HR 33
management activities related to reward compensation.

4.8 Table shows genuinely of the organization towards reward 34

system.

4.9 Table shows the special time spending with top level leader 35
outside the organization.

4.10 Table shows the benefits received for overtime satisfying for 36
employee.
 List of Graphs

Graph No Description Page no

4.1 Graph shows employee monthly income 27

4.2 Graph showing the reward and management is affected by your 28

qualification

4.3 Graph showing program of reward and organization in your company 29

4.4 Graph shows the feeling of employee towards a appreciated. 30

4.5 Graph shows the different rewards based on the performance. 31

4.6 Graph shows how many months the company is taking for appreciate 32
employee.

4.7 Graph shows did the employees are happy with the HR management 33
activities related to reward compensation.

4.8 Graph reward genuinely of the organization towards reward system. 34

4.9 Graph shows the special time spending with top level leader outside the 35
organization.

4.10 Graph shows the benefits received for overtime satisfying for employee. 36
 CHAPTER-1
INTRODUCTION

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Introduction of Compensation
Compensation is one of the most important areas in employee management that is sound
compensation policy, programs and its implementation are critical to the acquisition, retention
and development of employees of organizations to get the best results for them, and includes
selection, design, guidance and development of compensation or compensation policy.

The traditional concept of remuneration and wage management only emphasizes the
determination of the wage framework and salary in organizational arrangements. In other
simple words; "Compensation management is a systematic process of building a sound
compensation structure."

The word compensation represents the exchange between employees and the organization, and
both offer something in return. Throughout history, compensation issues have often been
confidential with the Government in terms of individual employers' will and choice. Therefore,
now a day in the world of competition for compensation policies is increasingly taken for
granted and employees are made to choose based on compensation pocket estimates of
compensation costs and retaining employees who have been the most important employees in
the organization.

Compensation management which has been one of the problems of workers and employers
around the world because of its importance therefore, employees want to pay as little as
possible. So in terms of compensation there is a conflict between workers and employers in
many organizations.

Compensation is an employee's salary that he or she receives through his or her contribution to
the organizations. And it takes an important place in the life of the employee before the
employer, the compensation of the employee is significant due to the contribution to the cost
of the product. The HR Specialist has the difficult task of adjusting the salaries and different
salaries are allowed for the employee and their leaders. Salary is another term used within
compensation and benefits refer to all types of financial rewards taken by an employee.

Compensation Meaning

Compensation includes rewards when you donate cash such as promotions, various bonuses
and performance bonus. Organizations reward their employees when they achieve the goals or
objectives set in partnership with employees.

Reward Meaning

Prizes may not be as much as a paid holiday for two. So when we talk about compensation, we
are referring to the salary scale of different levels. Generally, we can split the salary scale into
non-managers and managers before a salary scale is established.

1
Definitions of Compensation

Compensation is a systematic approach that provides financial support for employees in

exchange for work done. Compensation can achieve a number of objectives to assist with
employment, job satisfaction and job performance. Compensation is a tool used by
management for the purpose of maintaining a company's existence. It can also be modified
according to the business needs and resources available.

Objectives of Compensation

1. Attracting top talent

One of the main purposes of compensation should be to find the right talent. When you have a
competitive compensation plan in place you will be better able to attract top-level talent.

2. Retaining and rewarding employees

Don’t throw away your top talent from your competitors because the staff believes
that the grass will be green somewhere else. Find out the market prices for your employees and
pay accordingly. You can also set performance payment models to drive performance by
encouraging integration to reach new goals and move on.

3. Encourage inspiration

Properly organized, your compensation plan can inspire your team employees who know they
are being properly compensated for their work and feel comfortable and therefore have more
opportunities to remain involved, committed and productive. A well-executed compensation
plan can also increase job satisfaction in general.

4. Obedience

Compensation is not just fair within the industry: it must also comply with organizational rules,
such as general labour law. While adherence to standards may affect your compensation
management, it will help protect your company from litigation and ensure equity across your
board of employees.

5. At high ROI

It requires good adjustment, but the compensation management works best if you get a very
big bang for your bear. In other words, if you can create a compensation plan that stays within
the budget while also driving the product by paying to work with other incentive strategies,
you create a company-equal plan that benefits the hard-working workers.

Compensation to be used

a) Recruiting and retaining qualified staff.

b) Increasing or maintaining character / satisfaction.
c) Encourage high performance and reward.
d) External equilibrium and internal achievement.

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 e) Reduce profits and promote corporate loyalty.
f) Change (through negotiations) union practices.

Nature and purpose of compensation

The primary use of reward organization is towards establish and keep fair prize systems.
Among other things establishment with protection of an reasonable reward framework.
Therefore a good measure of opposition to employee interests and therefore that is the interest
of employee and employer satisfaction has been increased and conflicts have been reduced.
This management is considered for monetary aspect of requirements, inspiration along with
plunder manager analyze and take the requirements of their workers for awards as it is designed
individually to meet these requirements or requirements. So, they can make everything and
they can appear used for a prize or forfeit.

The prize can be money or promotions but it will be a certain amount of money - a smile, the
acceptance of information, the acceptance of peers, a good reputation for recognition etc.

From a personal point of view - income is a major source of energy. It also determines his
position in society and his reputation.

Business vision - compensation is the most important factor in the cost of a product and the
expected all.

A reasonable compensation structure seeks to achieve the following objectives:

a) Attract workers to a competitive market.

b) Controlling wages and wages and personnel costs by determining price changes
and increases.

c) Maintaining employee satisfaction by showing salary is fair and equitable.

d) Making rewards improve performance and funds is an useful motivator.

a. For staff

1. Employee should be remunerated according to the needs of their jobs high-expert job be
rewarded extra reward that as small-skilled job these factors are not equal.

2. The chances of an election are greatly reduced.

3. Sequence of functions and promotion lines are established and operational.

4. Employee morale and motivation have increased due to the framework of reasonable
compensation.

b. For employers

1. It can be organized as a systematic and regulatory change in the organization.

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 2. The sound compensation structure has reduced the like hood of a resistance and the
grievances over the salary.

3. It also improves staff morale and motivation due to adequate and well-managed
encouragement based on his or her needs and wants.

4. It also attracts fit employee with ensure and adequately paying for all that services.

Compensation conditions

I. Payroll differences have to exist base under difference into job wants.
II. Earnings and wage rates may exist into column among what is available within the
work sell.
III. Equal pay for equal work.
IV. Know each of the different abilities and offerings.
V. Employees and union must exist concerned into the development of net tax.
VI. Earnings have to be there satisfactory towards certify the employee and before her
relations have a measure of livelihood.
VII. There should be a clearly established process for the redistribution of grids and salaries.
VIII. Salary and salary structure must be flexible.
IX. The remuneration committee must review and review salaries from time to time.
X. The remuneration to be paid to an employee must be properly paid and raised.

Components and types of compensation

They do not work as justice and if it is based on order they will see compensation. Various
compensation schemes are designed to determine the number of positions And this system
utilizes a lot of like items together with work images, remuneration structure also written
actions and salary lists.

Elements of a reward plan that comprise additional points are

• Work Description: Critical environment, environment, conditions, and other aspects of

work. The definition can be present city used for individual tasks or used for all work
family.
• Job study: This is the procedure of analyzing tasks in which occupation images be
made. Strategic study that includes discussion of the use, discussion and questionnaire.
• Evaluation Job Evaluation: A job comparison program used for the reason of formative
the suitable level of compensation for each employee or job components. In this case
there are four main stages of strategy, point of view, standardization, compassion.

• Payment facilities: the usefulness of standard compensation methods. Highly paid

properties are included in several grads per grade containing the minimum wage / salary
and the entire step of promotion or grade level. Incentives be general within
combination position anywhere the remuneration of all employee be fixed from side to
side united bargain.

4
 • Earnings Survey: Remuneration collection and market data. It can include average
wages, living expenses costs, wage budget estimates and inflation indicators. Company
capacity buy the mark of survey conduct with review vendor otherwise might be
conduct with last vendor, reminder to these survey could be present conduct inside a
particular manufacturing otherwise entire industry over and above in a region of the
world which may be the industry or the location of the results of comparisons of
comparisons prior to the results.

Different Types of Compensation

The types of compensation they are given are

1. Basic payment.

2. Commission.

3. Overtime payment.

4. Bonuses.

5. Profit sharing, fair payment.

6. Stock options.

7. Travel / food / housing allowance.

8. Benefits.

Benefits include: dentistry, insurance, retirement, leaves, holidays, taxes and medical
treatment.

5
Types of compensation and reward

Compensation can be divided into two types

1. Financial compensation

2. Non-monetary compensation.

Financial compensation includes direct and indirect compensation

1. Financial compensation: Financial compensation is In this case there are two other
components:

Direct compensation: Mean compensation to employee by paying them in the following forms;

a. Salary - salary mean remuneration paid in cash for work performed by an employee.

b. Bonus - bonus means extra cash paid to an employee to significantly exceed his or her
performance or to complete a particular project or target.

And other financial incentives offered directly to employees in the form of an cash

Indirect Compensation

Indirect compensation such as indirect compensation and non-monetary compensation of

employees received for their continued employment with the company which is an integral part
of the compensation of all employees. In other words such because extreme settlement,
additional compensation, worker forces, furthermore additional funds are used.

6
The types of indirect compensation are

1. Social security: Both the manager with the worker have to reimburse interested in the plan
with a confident take of the work force earnings remunerated next to the manager along with
the member of staff be planned under the publication salary scale (average in recent years) and
is provided primarily to provide financial security for employers when they retire.

2. Employee compensation: It is intended in the direction of care for workers as of defeat of

returns with expensive cover up connected by work-related injuries or infection. Rules very
popular and the most important compensation we provide in the form of money. It is also a
very important motivating factor that satisfies they are generally provided to replace lost
money, rehabilitation of certain types of death survivor benefits, medical expenses, and total
disability benefits.

3. Retirement Plans: Sequestration as well as retirement fund strategy, which present financial
resources to retires, represents payment used for precedent services. Private programs may
exist fund through the institute or together with the association also the worker at the instance
of employment.

4. Paid holidays: include Christmas Day, New Year's Day, Independence Day, Labour Day,
etc. Another original perception refers to the closing time otherwise private existence. So below
this perception, the organization gives workers a positive quantity of days and salary towards
be present at individual associations. Employee references preserve be present occupied.

5. Paid Holidays: Workers have to get together a confident measurement lengthwise of

provision requirements previous to he or she is qualified used for rewarded leave. The
allowable instance meant for compensated leave usually depends under the length of employee
services. Vacation policies to facilitate often affect everybody within the similar way, travel
time policies may vary between categories of workers. The largely permissive organization
takes holidays a day or a week but in units less than a day.

6. Other Benefits: Organizations can offer a wide range of additional benefits including food,
health and first aid services, gyms, financial and legal advice, discount purchases. The size and
attractiveness of these benefits varies greatly from organizations. Fr ex: The purchase of
discounts will appeal especially to employees of a retail store or airline.

2. Non-monetary compensation: Non-monetary compensation aimed at compensating

employee not in monetary terms but in other forms that promote employee performance and
improve performance.

The following forms may follow

1. Occupational safety

2. Adoption

3. Participation

7
4. Pride in work

5. Job assignment

6. Other incentives.

The basic objectives of fair and reasonable compensation and remuneration plan for any
organization are pursued

1. Aims to develop the skills and personality of employees who work for a better and more
attractive compensation.

2. It aims to pay fair wages and earn a living on the basis of their efforts, skills and abilities.

3. Acquiring and maintaining effective and efficient staffing.

4. Aims to improve the quality of services provided by employees.

5. Liaise with local staff there and the required role in the organization.

6. It aims to increase the efficiency and productivity of employees on the basis of motivation.

7. It aims to improve and improve co-operation and co-operation among employees.

8. It aims to encourage employees to perform higher-level jobs.

9. Aims to create an employer-employee relationship with a better employer.

10. It aims to provide employees with public recognition and quality.

11. It aims to strengthen the desirable and useful character and employee.

Other compensation purposes

1. Get qualified staff - Compensation needs to be adequate enough to attract applicants.

Remuneration rates should respond to the supply and demand of worker in the labour market
as employers compete with workers. Sometimes better wages are needed to attract the attention
of applicants who are already working for others.

2. Retain existing employees - Employees may resign when compensation levels have not been
competitive and lead to higher exits.

3. Desirable salary should strengthen the desired character and serve as a reason for that future
behaviour. Essential reward strategy reward performance, reliability, knowledge, task, and
current ethics.

Administrative Expenses

8
A sound reimbursement plan that helps an organization finds and retains employees at
reasonable costs. Without involving fair compensation management, employees may be
overpaid or underpaid.

4. Compliance with legal regulations - reasonable remuneration and remuneration plan takes
into account legal challenges imposed by government and ensures employer compliance.

Be prepared to understand - the compensation management system should be easy to

understand buy labour professionals, supervisors and employees.

5. Other good governance and remuneration programs must be designed for the effective
management of HRIS, even though this may be present a second reflection compare to previous
purposes.

Prizes

The uses of incentive or reward to assume that people action are related to their skills and
abilities to get the importance of long-term goals. Therefore, even for most organizations, either
voluntarily or traditionally or through a contract that provides rewards for non-performance
and rewards should be regard Compensation methods

Working companies are required to expand a recompenseen close used for their employee plus
depending taking place the kind of business, employer might decide to recompense their
workers within a variety of traditions.

There are different types of compensation

1. Salaries and wages

Therefore use the conditions of pay and salary in rotation, in secretarial payments and the two
writing include diverse meanings, income are based on the salaries of paid employee and are
calculated on an hourly basis. Wages are based on the salaries of employees and their salaries
are calculated weekly, monthly, twice - weekly or monthly.

2. Commissions

The sales commission plans mostly from the company and the company, but it is the most
common one based on the number of sales made during earnings. The revenue of the
commission should be based on the proportion of earnings or deductions and the purposes for
which the commission reports are usually calculated by a certain percentage or rate of
commission.

There are other deployed workers who are excused as of the maximum income requirement.
The employee have to decide the normal, hourly speed used for every person paid by the seller
all through the week as well as ensure that the speed be on most same to the present least salary.

3. Piece - Rating

9
Workers are remunerated at a fraction of the cost of each piece produced. The gross income
equal to the value of each item should be multiplied by the number of items it should produce
at the time of payment.

4. Integration Program

The business must pay the sellers a salary and a commission. The integration of the plan
provides the standard revenue and offers in the promotion of high sales.

5. Drawing

Deductions are usually offered to merchants who work for the commission only. A pre-
drawing, provided by the seller to be collected when future sale in the sale are closed.
Withdrawals will be deducted from merchant commissions after any applicable taxes and
deductions have been withheld. The diagram is subject to all tax deductions.

Other Wages

6. Bonuses

The business offers bonuses in many different ways. Some bonuses are based on business
lucrative activities and are paid at the end of the year. A common type of bonus can be given
to merchants by selling something another type of bonus plan one of which can be part of the
lease agreement and pay the management if the annual sale or profit reaches a confident level.

7. Profit Sharing outgoings

The income contribution system is like a dividend scheme and can exist configured in a variety
of habits. An employee can choose to pay employee, be given storeinside the production or put
awake a separate retirement fund retirement as performance benefits.

8. Other Types of Compensation Tax

Sometimes additional employee pay is required equal to salary. Including non-financial

benefits for sickness pay, reimbursement, and additional unemployment benefits should be
provided to the government.

9. Non-Cash Benefits

Non-cash benefits will include the full salary of the employee. Of course

• On Personal Use of Company Vehicles.

• Discount / free flights.
• Holidays.
• Goods or services at discounts.
• Membership of national or previous community groups.
• Ticket for activity / sports actions.

10
10. Reimbursement

Payment is complete to employee used for move and previous trade payment required to be
taxed only if; the worker is not required just before verify individual costs by receipt or previous
documents. The company transfers quantity to the worker at selling expense and employee do
not reimburse some unspent funds.

Travel and leisure fees, previous expenditures, waged towards a worker under a non-responsive
preparation are too built-in in salaries. Below the non-responsive table the worker is specified
a firm quantity of funds for charge, except we are not required towards guarantee otherwise
refund any remain money.

Over the prepaid development graph, the minimum costs must be paid to the employer in a
timely and timely manner.

11. Sick Payment

As a quantity salary adjust before an worker due to complaint or harm above a scheme that
provides such remuneration, the amount is paid with the assurance corporation which is a
trusted employee, and is referred to like third social gathering outflow.

12. Tips

During business employee get reward within the structure of gifts / tips. Tips are an extra value
as of a purchaser used for the service provided. Bartender and restaurant services often be given
additional advice on salary. Hairstyles and taxi drivers also rely on tips as a major source of
income.

13. Additional Salaries

This will differ from the average salary only in that they can do according to the different
periods of employees, which are included in a different compensation rates which are paid at a
different time than normal.

For a certain payment is natural or temporary, an additional charge. Payments include

renewable payment promotions, retirement benefits, bonuses, commissions, prizes and holiday
pay on termination of employment, benefits of paid benefits.

The difference between regular and overpayment be central as extraordinary convention be

relevant towards deductions.

14. Released Payments

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Compensation is not regarded as salary which includes sick and injury compensation under the
Workers' Compensation Act and other payments that may be deducted as reimbursement of
qualifying travel expenses.

Compensation Management Ideas

The three main ideas that employers use when setting up compensation management systems
are:

a) The idea of consolidation

b) Equality Theory

c) Institutional Theory

A reinforcing vision

It is the same with the operating system, if anyone is rewarded.

Compensation Building

In the case of compensation it is take steps of compensation or else amount of a compensation

person otherwise incredible, such seeing that funds, specified be fore external as compensation
otherwise compensation in respect of a facility / defeat.

What is a reward construction?

A histogram of human experience so money is not everything, and it is certainly individual of

the summit problem worker can appear for new company negotiate. It provides a
straightforward salary structure for incentives - depending on the paid structure it can make or
break the eyes of people looking for top jobs.

The compensation structure has different salary levels and different levels for the same job.
The word income construction is second-hand to illustrate the remuneration / salary
relationship inside a exacting group which may be a professional / organization such as a
professional salary framework.

The salary structure or 'grade' contains approximately the same weight or value as the work
estimate determines if the “point' system of work estimate is old and the 'pay range' contains
activities. Decrease within the range of points.

If the 'comparative system' method is used, the range contains an anchor of the assessed salary
values (or points, if salary values are converted into points). If the 'position' system is used, the
range contains the exact number of values. When using the 'classification' system, tasks are
previously branded interested in 'category' or 'marks'.

Word recompense construction such as sample or division of salary paid to employees in the
relevant organization

12
Please keep in mind that when determining the composition of workers compensation, not
simply arithmetic except also previous subject such as natural science as well as psychology
plays a main responsibility in determining payment.

Biology an increase in the size or function of one part of the organ that causes the loss or
dysfunction of another. Psychology and behaviours to facilitate should be developed also
intentionally or automatically set actual or invented shortcomings, such as behaviour or
substantial capacity.

We therefore see toreimbursementorganizationbe an essential division of an labour advertise

signs inside instruct to draw qualified employee to the relevant organizations.

Determination of salary formation

Therefore before we discuss in detail the remuneration process allow us initial converse the
framework of the remuneration framework.

Financial Decisions

In the labour advertise there is what is normally recognized, known as industrial income
differentials. The basis for its survival is to facilitate in diverse jobs require diverse certificate
unlike salary skills and have changed levels of commitment, salaries are regularly set on top
the centre of job diversity and different skill levels.

Adam Smith describes the division of wages into employment according to.

1. Difficulty,

2. Difficulty learning a trade,

3. Stability of employment,

4. Job obligation, too

5. The chance of success or failure in the job.

The idea of a wage framework, but this representation of importance equally helps to explain
the difficulty of earnings constitution decisions. And in advertise the price of an article is price
and it bring the everywhere order and sales are identical. Use worth the price per consumer or
trader expects the make use of an article.

The employ of worth is clearly varied between people and above moment

• Worth the right job

There are two perspectives on the importance and the idea that internal labour markets come
together to explain the importance of differences between employers in wage decisions.
Organizations with the employers in wage framework decisions. Organizations with greater
openness in the internal labour market (organizations where many job are overflowing as of

13
exterior) create the most of promote cost. They too construct extensive employ of salaries as
well as wage investigation within salary decision.

on the other hand, organizations with relatively internal labour markets that are relatively
closed (many jobs have to be filled internally) emphasize value utilization. Their job analysis
should be highly dependent on the perception of members of the organization on the number
of related activities.

• Training

Some additional indicators of wage structure taken from economic analysis can be noted.
Career training requirements inside conditions of duration, complexity, along with whether the
instruction is provide with the community, manager or person are a key reason into economic
investigation along with relevant employment. Skill full interaction with needs and training
needs can result in different job scores depending under the lack of require skills along with
the numeral of persons trying towards do it on the job also failing.

• Worker Taste
It is a preference a further monetary issue. Person is different in the way they react to
their work. In this way they do, jobs should not be a financial gain and a disadvantage
of many kinds.

14
Chapter - 2
Methodology

15
16
Title of the study

A study on Compensation and Reward Management in RYNAS Info tech Private Limited
Company

Problem of study

In the decade compensation and reward management in the company have received more
attention. However their utilization remains questionable. To know what kind of compensation
and reward system Rynas info tech private limited company is follow.

Scope of the study

• Benefits looked at weather the benefits of compensation and reward management skim is
satisfactory.

• To study the importance of compensation and reward management and its effectiveness in
the organisation

• Promotion and probed for the opportunity that organization offer for promotions

Objectives of the study

• Analysis of compensation for items in this software company.

• Assess employee satisfaction with recognition and remuneration.
• Ensuring employee satisfaction with fairness and justice in compensation practices.
• Recognizing employee satisfaction with monetary and non-monetary compensation
procedure.

Review of Literature

Compensation is a concept according to Bernadine "Compensation refers to all types of

financial compensation and tangible benefits employees receive as part of an employment
relationship." Compensation as divided is divided into two parts and these are monetary
compensation which is a direct payment given to the manager used for the occupation done
near the worker along with reward in terms of worker benefits plans. Monetary compensation
consists of two components, including basic payments and the equivalent salary. The base fee
is related to the hourly or weekly wage for overtime pay, the variance of the exchange and the
same allocation while the payroll is concerned with performance benefits such as qualifying
promotions, bonus payment incentives and earnings Sharing compensation shooting too have
two part in the direction of which with authorization require benefits with remuneration. By
law they were seeking benefits including social security, workers' compensation while making
voluntary schemes including health benefits, pension schemes, reimbursement payments,
recognition awards, distant facility premium, liability grants, infant trouble scheduled property,
promotions, once a year promotions, promotions as well as many other benefits, in short the

17
not direct and monetary and non-monetary benefits received by workers used for systematic
their employ by way of the society.

The employee's perception of reward with remuneration cannot be present discuss within a
vaccine. a variety of study comprise been recognized to salary and settlement are directly linked
towards career fulfilment and occupation pleasure that container inspire change where it affect
worker presentation along with governmental dedication.

Employee

A worker is a person who is permitted just before exist an employee below a service agreement
to serve others from pay. These may include salary, salary, commission and pricing. It can also
be a library and an information centre where the ethics of the field and the work or other work-
oriented or else.

Workers' compensation

Reward is the main motivation designed for workforce. And individuals want that not only in
accordance with their art and talents, but they are compensating them - both in terms of salary
and other benefits - consequently. Reimbursement is besides individual of the most change
field in the workforce, since company keep on towards consider a variety of behaviour to
reward workers intended for their work. Employees benefit from this by focusing on
maintaining or improving the quality of life of employees and providing a level of protection
and financial security for employees and their family members.

A literature review of the compensation documents introduces the following concept

Employee compensation factors including salary and salary Compensation that should be based
on the presence of the employee, equal pay for equal work Compensation has a direct impact
on the success of the organization as it is a basic source of compensation that incorporates
direct compensation as the cash reward that was indirectly contributes to the shooting benefits.
Financial compensation that includes specific issues in terms of salary and salary plan and
structures in job descriptions, appropriation plans, bonus-based schemes at the same time as
not direct reimbursement generally refers on the way to retreat procedure, physical condition
existence indemnity, employee stock ownership cover policy and more. Also, compensation
can be to establish basic pay given to employer designed for occupation done along with this
includes remuneration, ultimately reimburse, move allowance, similar benefits with
compensate based under presentation such as prizes, incentives, bonuses and profit sharing
while compensation includes necessary programs such as community precautions, cover,
ultimately receive, workers' compensation for personal injury, utility bills, childcare, health
benefits, pensions, pay period with consequently scheduled. The time when reimbursement
plan is straight associated in the direction of the skills requirements of the occupation along
with the possibility implicated more determination subsist reward and vase versa.

Research Methods

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Title compensation for training provided to employers. In order to be successful in a business
venture, a talented employee can compete with one another to attract talented employees, is
checked through observation.

Data Collection

Information is collected from Primary data information collected through questionnaires.

Secondary information available online such as relevant websites, magazine articles.

Sample taken

The organisation employee we send mails to 300 employees but only 100 employees replayed
for us.

Sample Size

Number of sample is 100.

Limitations

• For the project only few weeks they are provided to complete the project so we collect
little information in time constant.
• ``Employees are afraid to give feedback.

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 Chapter 3
Company profile and
SWOC Analysis

20
 3.1 COMPANY PROFILE

RYNAS INFOTECH PRIVATE LIMITED

RYNAS Info tech Private Limited is a privately held joint venture dated 21 January 2010. It is
called a Non-Governmental Company and is registered with a company registrar, in Bangalore.
Approved for a share capital of Rs.1000 and paying a maximum amount publishing includes
production, posting and documentation of ready-made (non-customized) software, software,
business software and other applications, computer software for all platforms. Consultation
that include providing the best solution for custom software after analyzing user needs and
problems. Custom software includes custom-to-order software based on orders that create
specific users. Also, including and installed write software of any kind according to user
instructions; software, web page layout].

The RYNAS Infotech Private Limited (AGM) Annual General Meeting was finally held on 29
September 2012 and as records of the Department of Cooperative Governance (MCA), its
balance was finally maintained on 31 March 2012.

The directors of SRYNAS Info tech Private Limited are VEDAGNANI CHALLAM, GOPI
CHALLAM.

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Profile

• Whenever a person says “applicant” wants loan. He needs a approaches the bank then
the bank or lending company should have to verify the background of the applicant and
the property which he applied for.
• So the lender will pass the work to other private companies to verify the property record.
• The company will verify the encumbrance of the property records and the judgement
and lines field on the person name.
• Later the abstracting company will prepare the title report and send it back to the lender.

Major country departments

To perform a title search or to prepare a title report we need to have an introduction of few
major departments.

• Assessor / Appraiser
• Auditor / Tax Collector
• Recorders
• GIS – Geographical Information System.
• Courts – Civil and Probate Courts.
• GIS will keep updating the parcel map online every year.
• In this link you can find the parcel map along with the property information.

Procedure to do O and E search

Open the order form note down the following

• Borrower name
• Property address
• County name
• State

Open the auditor link or appraiser link for that particular county and choose any one of the
option for search

• Name search
• Address search

Confirm property address and owner information from the results page

• Note down the short legal description and deed book page number if available
• Open the particular county public records and give the name search as per the
instruction.
• Note down the book page no and record date and download the image.
• List out all mortgages related to that property.

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• List out all the assignment, sub-ordinations, consolidations and CEMA for the
respective mortgages.
• Look for the satisfactions, level mortgages that found satisfaction.

23
 3.2 SWOC Analysis

Strengths

• Reward system designed to invest employee time RYNAS info tech company.

• As they relate to work skills.

• There are rewarding practices and planning activities.

• Highly skilled management and HR representatives.

• Commercial competition in many companies.

• The labour turnover is low.

Weakness

• Company may lose efficiency due to poor inventory management practices

• Less expenditure on the research and development activities can weaken the company
perform due to poor local / international market knowledge.

• The cash shortage or insufficient current assets negatively affect the liquidity position and
overall business performance.

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Opportunities

• Public discussion on payment.

• Most U.S countries it has no time limits.

• Clear business plan.

• Good weather relations with staff in recent years.

Challenges

• Payment for services has become very popular.

• Companies use compensation to reward and enhance the spirit of high performance but also
to promote failure.

• Employee perception of reimbursement is based on personality morals, requirements and

opportunity.

• Competitive level with similar organizations.

• Compensation strategy will set the rate and duration of salary increases, jobs are eligible for
bonuses.

25
 CHAPTER - 4
Outcomes of the study

26
 1. Employees Monthly Income

Table 4.1: table shows employee monthly income

Particular Respondents Percentage

Less than 10000 15 15
10000 – 20000 40 40
20000 – 30000 35 35
More than 40000 10 10
Total 100 100

Graph 4.1: shows employee monthly income

Monthly Income

10% 15%

Less than 10000

10000 – 20000
35% 20000 – 30000
More than 40000
40%

Interpretation

From the table 4.1 analysis showing that monthly salary income of 15percentage respondents
is less than 10000, 40percentage respondents come under 10000 – 20000, 35percentage
respondents come under20000 – 30000, and 10percentage respondents come more than 40000.

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 2. Is your reward and compensation is affected by your qualification?

Table 4.2: Table Showing the reward and management is affected by their qualification

Particular No of Respondents Percentage

Yes 85 85
No 15 15
Total 100 100

Graph4.2: Table Showing the reward and management is affected by their qualification.

Employee qualification

15%

Yes
No

85%

Interpretation

From the table 4.2 showing education of 85percentage employee replied yes, 15percentage
employee replied no.

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 3. Did you know about program of reward and compensation in your company?

Table4.3: Table showing program of reward and compensation in your company

Particular No of Respondents Percentage

Strongly disagree 25 25
Neither agree or disagree 10 10
Strongly 65 65
Total 100 100

Graph4.3: Table showing program of reward and compensation in your company.

Awareness of reward and

compention
Strongly disagree Neither agree or disagree Strongly

25%

10%
65%

Interpretation

From the table 4.3 showing 25percentage responses are strongly disagree that they now about
company rewards and compensation system, 10percentage are telling that neither agree or
disagree, 65percentage are telling that they now about the rewards and compensation system
is strongly agree.

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 4. Are you feeling that your works is valued and appreciated?

Table4.4: Shows the feelings of employee above the appreciation.

Particular Respondents Percentage

Strongly agree 20 20
Agree 30 30
Neutral 25 25
Disagree 15 15
Strongly disagree 10 10
Total 100 100

Graph 4.4: Shows the feeling of employee above the appreciation.

Appreciation Feelings

10%
20%
Strongly agree
15% Agree
Neutral
Disagree
30% Strongly disagree
25%

Interpretation

From the table 4.4 as giving the below information 20percentage of strongly agree that a work
is value and appreciated, 30percetage respondents said that they are agree about the
appreciation system, 25percentage respondents getting that neutral, 15percentage respondents
come under disagree, 10percentage respondents come under strongly disagree.

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 5. What approaches do you use to different rewards based on performance?

Tabl4.5: Shows the different rewards based on the performance.

Particular Respondents Percentage

Basic salary increase 35 35
Variable pay 25 25
Special recognition 20 20
LTI awards 15 15
Others 05 05
Total 100 100

Graph4.5. Shows the different rewards based on the performance.

5%
15% 35% Basic salary increase
Variable pay
20%
Special recognition

25% LTI awards

Others

Interpretation:

From the table 4.5 performance based on 35percentage responses given to basic salary increase,
25percentage responses given to variable pay, 20percentage responses given to special
recognition, 10percetage responses given to LTI awards, 5percentage responses given to
others.

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 6. How many months once did your company appreciating?

Table 4.6: Shows the number of months taking to appreciated.

Particular Respondents Percentage

3months 10 10
6months 65 65
9months 25 25
Total 100 100

Graph 4.6: Shows the number of months taking to appreciated.

No of months

10%
25%
3months
6months
9months

65%

Interpretations

From the table 4.6 shows company appreciation of employee 10percentage respondents given
to 3months, 65percentage respondents given to 6months, and 25percentage respondents given
for the above 9months.

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 7. Is employee are happy with HR management activities related toreward compensation.

Table4.7. Shows the employees are happy with the HR management activities related to
reward compensation.

Particulars Respondents Percentage

Disagree 10 10
Neutral 55 55
Agree 35 35
Total 100 100

Graph4.7. Shows the employees are happy with the HR Management activities related to
reward compensation.

Employee of HR management

10%
35%

Disagree
Neutral
55% Agree

Interpretation

From the table 4.7 showing10percentage of employees disagree, 55percentageof employees

say neutral, and 35percentage of employees are agreed.

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 8. Is the reward system of your organisation being followed genuinely?

Table4.8:Shows the reward system of your organization being followed genuinely.

Particular Respondents Percentage

Yes 35 35
No 20 20
Some extent 45 45
Total 100 100

Graph4.8: Shows the reward system of your organization being followed genuinely.

Respondents

35%
45%
Yes
No
Some extent
20%

Interpretation

From the table4.8 showing reward system organised 35percentage of employees says yes,
20percentageof employees say No, and 45percentage of employees are says some extent.

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 9. Special time spending with top level leader outside the organisation motivating?

Table 4.9: shows the special time spending with top level leader outside the organisation.

Particular Respondents Percentage

Strongly Agree 45 45
Neutral 30 30
Disagree 15 15
Strongly disagree 10 10
Total 100 100

Graph4.9. Shows the special time spending with top level leader outside the organisation

Respondents
Strongly Agree Neutral Disagree Strongly disagree

10%

15%
45%

30%

Interpretation

From the table4.9 shows that employee spending special then with the top level leaders outside
the organisation, 45percentage there happy spending their time with top leaders strongly agree,
30percentage of responses given to neutral, and 15percentage of responses given to disagree,
10percentage of responses given to strongly disagree.

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10.Is the benefits received for over time satisfying for employee?

Table4.10: shows the benefits received for overtime satisfying for employee.

Particular Respondents Percentage

Yes 85 85
No 15 15
Total 100 100

Graph4.10. Shows the benefits received for overtime satisfying for employee

Employee satisfaction

15%

Yes
No

85%

Interpretations

From the table 4.10 showing received benefits of employer 85percentage responses given to
yes, 15percetage responses given to no.

36
s

CHAPTER-5
Experiences and Learning’s
Conclusions

37
Experiences and Learning’s

This project is for compensation and prize management in the company from which I have
collected data from secondary data. When I got there I knew how compensation and rewards
were given to employees and employees of the company. Where I know the structure of
compensation and rewards in the company and includes different types and forms of
compensation.

• Compensation is collected from secondary data, on how compensation is distributed. I

knew how rewarding compensation was.
• First they train employers.
• A compensated / managed black line model that gives the manager an end-of-year
compensation plan for maintenance and boarding.
• Consideration of overtime pay.
• As a compensation group for the U.S.
• The French investment bank aims to implement a web-based compensation plan.
• Consolidation of the number of employees obtained from the compensation system and
process

CONCLUSION

Compensation laws apply most to compensation in the event of any disability at work, accident,
death, occupational health issues are dangerous etc., compensation does not take into account
the pay package of employees in the organization. Compensation, therefore, is for
organizations, where there are health risks, accidents, disabilities and death. Most organizations
offer compensation as a package. It contains payment benefits and compensation management
services that should be flexible enough to gain popularity in the field of human resource
management activities. Compensation can be increased in the production of an organization
because it offers various prizes, schemes, bonuses etc., and is mandatory for each organization.

A high-quality arrangement of complete reimbursement that can attract, maintain employee

during the association.

Reward is associated to the presentation along with approval of workers inside the
administration of costs.

Proper reasonable payment administration will construct a great incentive designed for the
worker to achieve in the society.

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Compensation and strategies remain in a liquid state which should not have been a robust and
robust process that could lead to the immeasurable loss of a company trying to attract and retain
a good corporate employee, Companies with the greatest potential for compensation plan and
profits that will be able to grow the right person more after that will not be very successful in
business.

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 APPENDIX

QUESTIONS

NAME:

AGE:

GENDER:

1. Employee monthly income?

 Neutral
 Agree
 Disagree

2. Do know about program of reward and organisation in your company?

 Strongly disagree
 Neither agree nor disagree
 Strongly agree

3. What approaches do you use to differentiate rewards based on performance?

 Basic salary increase
 Variable pay
 Special recognition
 LTI Awards
 Others

4. Is your reward and compensation is affected by your qualification?

 Yes
 No

5. How many months for your company appreciation?

 3months
 6months
 9months

6. Is the reward system of your organisation being followed genuinely?

 Yes
 No
 Some extent

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7. Special time spending with top level leader outside the organisation motivating?
 Strongly agree
 Neutral
 Disagree
 Strongly disagree

8. Is employees are happy with HR management activities related to reward compensation?

 Disagree
 Neutral
 Agree

9. Is the benefits received for over time satisfying for employee?

 Yes
 No

10. You are feeling that your work is valued and appreciated?

 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly disagree

Bibliography

www.google.com

www.iosrjourals.org

www.scribd.com

shodhganga.inflibnet.ac.in

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