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Employee Compensation and Benefits
I take this opportunity to express my sincere gratitude to Dr. Jessiah Selvam, Director, Indian
Academy School of Management Studies, Bangalore, for his encouragement and support by providing
insight into the procedure for Dissertation.
I express profound thanks to my Dissertation Guide, Mrs. Sheeja Krishna Kumar, Faculty Member,
Department of Management, Indian Academy School of Management Studies, for her valuable guidance
and suggestions which helped me to complete my Dissertation project in time.
I sincerely thank Mr. A. Saravana Kumar, Faculty, Indian Academy School Of Management Studies,
Bangalore.
I wish to thank the respondents from various organizations for giving their valuable responses.
Finally, I extend my loving thanks to my family and friends for their valuable support during my
Dissertation study. LIST OF CONTENTS
Employee Compensation and Benefits
Sl.No. CHAPTER Page
Number
01 INTRODUCTION 1‐19 1.1 ntroduction 1
1.2 Compensation 1
1.2.1 Nature of Compensation 2
1.2.2 Need for Compensation Management 3
1.2.3 Drivers of Compensation 4
1.2.4 Components of Compensation 4
1.2.5 Types of Compensation Surveys 6
1.2.6 Compensation Systems 7
1.2.7 Equity Theory 9
1.2.8 Types of Compensation 11
1.2.9 Features of Effective Compensation Policy 19
02 RESEARCH DESIGN 20‐‐24 2.1 T itle of Study 20
2.2 I ntroduction 20
2.3 R eview of Literature 20
2.4 S tatement of the Problem 21
2.5 S cope of Study 21
2.6 O Ibjectives of Study 21
Employee Compensation and Benefits
2.7 Methodology 22
2.8 Limitations of Study 23
2.9 Chapter Scheme 24
03 INDUSTRY PROFILE 25‐33 3.1 The Semiconductor Industry 25
3.1.1 Workforce in the Industry 26
3.1.2 Features of Semiconductor Industry 27
3.1.3 Semiconductor policy f Government of India 28
3.1.4 Reasons for Companies coming to India 28
3.1.5 Market for semiconductors 29
3.1.6 Products 30
3.1.7 Challenges 33
04 ANALYSIS AND INTERPRETATION 34‐65
05
SUMMARY OF FINDINGS.CONCLUSION AND
RECOMMENDATIONS
66‐70
5.1 Findings 66
5.2 Conclusion 68
Employee Compensation and Benefits
LIST OF FIGURES
5.3 Recommendations 69
BIBLIOGRAPHY
ANNEXURE
Employee Compensation and Benefits
Sl.No. Figure Name Page
Number
01 Figure 1.2.1 Need for Compensation Management
3
02 Figure 1.2.2 Components of Compensation 4
03 Figure 1.2.3 Types of Compensation Survey 6
04 Figure 1.2.4 Evolution of Strategic Compensation 8
05 Figure 1.2.5 Internal Equity 10
06 Figure 1.2.6 External Equity 11
07 Figure 1.2.7 Forms of Direct Compensation
12
08 Figure 1.2.8 Forms of Indirect Compensation
14
Employee Compensation and Benefits
LIST OF TABLES
09 Figure 1.2.9 Incentive Plans 17
10 Figure 3.1 Blue Gene Microprocessor 32
11 Figure 3.2 eDRAM Chip 32
12 Figure 3.3 Athlon™ 64, Athlon™64 X2Dual‐Core
32
Sl.No Table number
TABLE NAME Page
Number
1 Table 3.1 Captive & Non Captive Companies 25
2 Table 3.2 ISA‐Frost & Sullivan, 2006 26
3 Table 3.3 Availability of Talent 27
4 Table 3.4 Market for semiconductors 30
Employee Compensation and Benefits
5 Table 3.5 Semiconductor Products 31
6 Table4.1.a Table showing satisfactory level of employees regarding
compensation based on qualification.
34
7 Table4.1.b Table showing satisfactory level of employees regarding
compensation based on experience.
36
8 Table4.2 Table depicting the employees response regarding the clarity of
the organization's pay policy, related to the salaries, pay and
bonus.
38
8 Table 4.3 Table showing the response regarding the presence of belief in
employees on performance based payment system.
40
9 Table 4.4 Table showing the level of agreement of the employees with
regards to their acceptance of pay in accordance with the
responsibilities handled.
42
10 Table 4.5 Table showing willingness of the respondents to take additional
responsibility, if the compensation is increased.
44
11 Table 4.6 Table showing response regarding the existence of bias in the
compensation package of similar jobs within the Organization.
46
12 Table 4.7 Table depicting the acceptance level regarding whether the
Compensation package is at par with package of similar jobs in
other Organizations in the Industry.
48
13 Table 4.8.a Table showing the respective weeks, in which the respondents
are paid monthly salary.
50
14 Table 4.8.b Table showing the response to whether the salary paid regularly
in the same time every month.
52
Employee Compensation and Benefits
.6
15 Table 4.9 Table showing the employees in number and percentage, if they
receive Employee Stock Option Plan from their company.
54
16 Table 4.10 Table showing respondents in numbers , choosing factors which
boost their interest in work.
56
17 Table 4.11 Table showing satisfaction level of respondents with respect to
various factors of Compensation and Benefits.
58
18 Table 4.12 Table showing response regarding to whether the employees
would like to recommend any changes in the current
Compensation and Benefits package.
60
19 Table 4.15 Table representing the ratings given by the respondents for the
Compensation and Benefits Management System in their
Organization.
64
Employee Compensation and Benefits
List o
Sl.No
Chart
Number
Chart Name Page
Number
1 Chart4.1.a Chart showing satisfactory level of employees regarding
compensation based on qualification.
35
2 Chart4.1.b Chart showing satisfactory level of employees regarding
compensation based on experience.
37
3 Chart4.2 Chart depicting the employees response regarding the clarity
of the organization's pay policy, related to the salaries, pay
and bonus.
39
4 Chart 4.3 Chart showing the response regarding the presence of belief
in employees on performance based payment system.
41
5 Chart 4.4 Chart showing the level of agreement of the employees with
regards to their acceptance of pay in accordance with the
responsibilities handled.
43
6 Chart 4.5 Chart showing willingness of the respondents to take
additional responsibility, if the compensation is increased.
45
7 Chart 4.6 Chart showing response regarding the existence of bias in the
compensation package of similar jobs within the
Organization.
47
8 Chart 4.7 Chart depicting the acceptance level regarding whether the
Compensation package is at par with package of similar jobs
in other Organizations in the Industry.
49
Employee Compensation and Benefits
9 Chart 4.8.a Chart showing the respective weeks, in which the
respondents are paid monthly salary.
51
10 Chart 14.8.b Chart showing the response to whether the salary paid
regularly in the same time every month.
53
11 Chart 4.9 Chart showing the employees in number and percentage, if
they receive Employee Stock Option Plan from their company.
55
12 Chart 4.10 Chart showing respondents in numbers , choosing factors
which boost their interest in work.
57
13 Chart 4.11 Chart showing satisfaction level of respondents with respect
to various factors of Compensation and Benefits.
59
14 Chart 4.12 Chart showing response regarding to whether the employees
would like to recommend any changes in the current
Compensation and Benefits package.
61
15 Chart 4.15 Chart representing the ratings given by the respondents for
the Compensation and Benefits Management System in their
Organization.
65
Employee Compensation and Benefits
Employee Compensation and Benefits
Chapter - 1
Introductio
Employee Compensation and Benefits
n
Employee Compensation and Benefits
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