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12 Case Studies of Companies that Revised How They Compensate Employees

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S HRM has partnered with ChiefExecutive.net to bring you relevant articles on key HR topics and strategies.

Higher compensation is part of the ransom for dealing with the pandemic for most American companies and industries. So salaries, wages, benefits and perks will cost them more—perhaps a lot more—in the year ahead.

The way CEOs and CHROs can make sure the Great Raise works to their companies' advantage is to be proactive, creative and equitable about it. Yet they also must weigh strategically the demands of the moment with their long-term compensation strategy.

"This is a time for real balance when it comes to how you deal with retention and attraction," said Paul Knopp, chair and CEO of KPMG US. "We all have to make sure we meet the market when it comes to base compensation, but the market has changed in a way that you also have to look at those benefits that are most attractive to employees for their careers."

While median full-time earnings of $1,001 per week in the third quarter of 2021 were nearly 9% higher than two years earlier, according to the Labor Department, expectations for 2022 remain frothy given the tight market for talent, the free-agent ethos encouraged by remote work, the geographic reshuffling of workers and decades-high inflation. U.S. wages will increase by 3.9 percent in 2022, according to the Conference Board, the highest rate since 2008.

The compensation surge is occurring at the high end, at a low end that's getting higher and everywhere in between. Goldman Sachs, for example, is offering paid leave for pregnancy loss and expanding the amount of time employees can take for bereavement leave while also boosting its retirement-fund matching contributions for U.S. employees to 6% of total compensation, or 8% for those making $125,000 a year or less.

Meanwhile, at Tyson Foods' chicken-processing plant in New Holland, Pa., the company has started offering a three-day workweek, plus pay for a fourth day that retains employees' status as full-time workers. Just for good measure, Tyson has created a $3,000 sign-on bonus for new hires.

"We're in a bidding war for talent that will go on for a long time," said Alan Beaulieu, president of ITR Economics.

For CEOs and CHROs, several new factors demand their attention along with the overall spike in compensation. They include:

  • The end of retention. The "idea of a long-term commitment to one employer has been dead for a while, but it's really dead now," said Dave Roberson, CEO of the RoseRyan financial consulting firm. "You must have a stream of people. Assume you're going to be replacing people. So how do you keep the people you have, if you can, but also bring the next group in?"
  • High-balling. A deal to recruit someone may not really be a deal these days. "You've made an offer and you think you've got a hire, and then they're asking for $5,000 or $10,000 more," said David Lewis, CEO of OperationsInc, an HR consulting firm. "Now you have to ask yourself what makes more sense strategically: say no and hold the line and lose the candidate and restart the process, not knowing how that will work out? Blow up your compensation structure? Or as a Band-Aid, give that person a sign-on bonus in hopes that the package will get them in the door?"
  • Need for equalization. Recruiting with higher compensation also requires boosting pay and benefits for retention. "You need to be mindful of what you're paying others in the organization and understand the detrimental impact it will have when you bring someone in alongside a tenured employee," Lewis said. "Operate on the idea that everyone's salary is basically posted on the pantry door in your office."
  • A focus on mental health. The pandemic, anti-contagion measures and the takeover of remote work has left many Americans isolated, confused, lonely—or at least disjointed. And they expect their employers to help them cope and adjust.

"Mental health is a real thing, regardless of how [a previous generation of leaders] feel and what we did," said Jeffrey Immelt, former CEO of General Electric. "Particularly post-Covid, it's something worth your time to try to understand."

Many Fortune 500 companies already offered mental-health benefits, but by now "mental health is just a place setter: You've got to have it in place to be competitive in the market today, across the board," said Richard Chaifetz, founder and CEO of ComPsych, a large provider of employee-assistance programs. "Companies understand the importance of keeping their people functioning at the highest level."

Codility, for example, has begun supplying all employees with 27 days of paid time off per year plus four mental-health days, which don't have to be approved. "We're offering these days in addition to personal-time-off days to recognize and bring to light the importance of mental health," said Natalia Panowicz, CEO of the platform that evaluates the skills of software engineers, with its U.S. hub in San Francisco.

CHRO360.com asked a dozen CEOs, CHROs and other top executives about their compensation strategies and practices for 2022. Here are some of their ideas:

Let Them Name Their Salary

Chris kovalik, ceo, rushdown revolt, a video-game maker in new york city.

We started as 12 part-timers, mostly people who were giving me their moonlight hours. That's not a lot different from now, except now we have 75 people. The magic of what we do is that we don't recruit anybody. We're just a magnet. We let people come to us.

When it comes to compensation, some say they wanted to volunteer, that they weren't expecting compensation. But we never, ever allow people to volunteer their time for us. So we say our company minimum wage is $15 an hour, and if you insist, we can pay you that per hour.

But generally people come to us with an expectation of compensation because they see that we're making money. When compensation came up, we'd say, "I don't know what your skill set is. I've never hired you before. How much do you think you're worth, and how much do you need?"

If every hour we're compensating them for the amount of money they want and need, if someone is part-time and only giving me 10 hours a week, I'd argue that they're giving me their best 10 hours. Because they're getting paid what they want and doing things that they want to be attached to and be part of.

There's no pattern to the compensation requests. If their number is too low, we'll say, "Are you sure? Are you just giving me a low-ball number I'll say yes to?" If it's high, I don't talk them down, but I ask them to justify it, and if the justification isn't adequate, what I say is, "How long do you think you'll need to prove that justification? Two to three weeks? Then let's pay you two-third to three-quarters of what you asked, and if you prove it, we'll go up to whatever you said."

Tailor Package for Youth Appeal

Ronald hall jr., ceo, bridgewater interiors, an auto-seat maker in detroit.

We enjoyed very low turnover pre-Covid, but during the last two years we have had to replace probably one-third of our workforce at our largest facility, about the same number from termination as voluntary. So we've had to work harder than ever to recruit.

Our most-tenured employees, who are the most highly trained, have had to pick up the slack, working record amounts of overtime and less-predictable production schedules.

In our upcoming negotiations with the United Auto Workers, we're trying to emphasize short-term bonuses rather than wage increases that get baked into our costs. But we have continued health insurance through the pandemic as well as our tuition-reimbursement program, and many employees have thanked me for that.

What I am hearing from new employees is that they're not as interested in benefits but rather in higher cash wages. We've long touted benefits like our generous 401(k) matching and better medical coverage versus our peers, but we're finding that doesn't resonate as readily now as it did a decade ago. So I've asked my team: Should we be looking at some kind of hybrid model of offering higher wages to people who want those and move those dollars from the benefits side to the wages side?

We've also looked at providing childcare in a partnering arrangement where there could be a center developed near our facilities, and we would arrange for some sort of company subsidy or guarantee some level of attendance. The challenge with that is the auto industry runs around the clock, and you'd need a daycare provider who'd be committed to opening around the clock and provide legal, regulated, benchmark-standard levels of care to all those children in the off hours.

Equalize as You Acquire

Diane dooley, chro, world insurance, a business and personal insurer in tinton falls, n.j..

We onboarded about 800 employees in 2021 through acquisitions of small agencies and organic growth, but there had been no compensation modeling. Now we're building out our compensation philosophy with commission plans, incentives and bonuses, centralizing components and ensuring we have the right framework.

When we do an acquisition, we might retain their compensation model for a year or two years then slowly migrate, but make sure employees aren't taking a cut in pay. We are also capitalizing commissions into base compensation—identifying what commissions would have been and what they will be, and recognizing roles that are moving away from a commission base.

Some agencies we acquire are smaller and may be below-market for total compensation. Now we're addressing those concerns. They need to be more front and center. We must do everything to retain our employee population. If they're woefully underpaid, or not at market, we risk losing people, and we don't want to do that.

Educating the owners of some of the agencies [we acquire] is a piece of this. As we partner with them, we are evaluating them and asking, "Did you give people an increase this year?" We're not telling them what to do but providing guidance about what to do.

We're also modifying and increasing our benefits, such as giving employees pet insurance. And making counteroffers is a critical piece today, usually for high-end employees. They work better than they used to because not a lot of people really want to make a move in this environment.

Innovate for the New World

Jason medley, chief people officer, codility, a provider of skill-evaluation software in london.

We really have to step back and be innovative and force ourselves to change. The companies that are going to win are going to be more progressive early and not fighting what's happening.

One thing we've done is change our outdated compensation models that give higher pay to employees living in tech hubs like San Francisco and New York and lower compensation for areas inside the coasts. Now, we've created a United States-wide salary band, so no matter where you live, the compensation is based on the role, not the location. You can go live and work wherever you want to.

We decided to approach compensation through a very human lens. People have seasonality in life, and maybe they are caregivers at different moments and want to live in different places. We want to be as flexible as possible, and this country band gives us that flexibility.

We are starting to see the same thing in Europe, where we have our headquarters in London and offices in Berlin and Warsaw, and employees all over, especially in Poland. People are wanting to live in the countryside of Spain but demanding a London salary. So we are transitioning to one European Union band and saying, "Here is your rate—live where you want to."

We are also seeing that with global warming, it's harder to get work done for people on the west coast of the U.S. and in Europe, because they didn't build homes with air conditioning. If you're sitting in a house at 90 degrees with no air conditioning, there's no way your performance is the same as someone with AC. Supplementing air conditioning isn't something we thought about before, but now we're very much having to look at those things.

Stay Ahead of Expectations

Traci tapani, ceo, wyoming machine, a sheet-metal fabricator in stacy, minn..

Our wages have gone up by about 20% for the typical worker. When I found people I could hire, I knew they were being brought in at an hourly rate that was too high for what I was paying my incumbent workers.

My strategy has been to be proactive about that and not wait for [existing] employees to say something about it or give them a reason to look for another job. We're proactively making wage adjustments to make sure our incumbent workers are in line.

Employees will leave for more money, so they're very appreciative of it. But in my shop, I also know that people like working here, and I know they don't want to leave. I don't want to give them a reason. If they can get an increase in pay that's substantial, I know that I can cut them off at the pass. Retaining my workforce is my No. 1 strategy. They're already here, and I'm going to do everything I can to keep them.

For that reason, we've also been more generous as time has gone on with paid time off, offering it sooner than we once would have, especially for new workers. We recognize that it's healthy for people to be away from work and also, in the pandemic, people need to be away from work. Knowing they have some paid time off makes it easier for them.

Leverage Benefits for DE&I

Mark newman, ceo, chemours, a chemical manufacturer in wilmington, del..

In general our company hasn't seen the Great Resignation. And in fact, we continue to believe our focus on being a great place to work is serving us well, along with appropriate benchmarking on compensation issues.

Chemours  is  a great place to work. We survey our employees every year, to improve our working environment from a compensation and benefits perspective. Also, from the [diversity, equity and inclusion] perspective, we're trying to make sure we tap into the full breadth of talent in our industry.

That means, for instance, we are helping people more with college loans. We are offering same-sex [marriage] benefits. We are providing more family leave for people who have kids. There is clearly an aspect of our benefits package that is evolving to be consistent with our strategy of making Chemours a great place to work.

Overall, we view compensation as something where we want to be either in the median or upper quartile. It's something we're very focused on from both a wage as well as benefit level. From Covid, there's been no fundamental change as it relates to us wanting to be in the median to top quartile.

We've had to make some local adjustments where the labor market is more super-charged. For example, we see a lot of that in the Gulf Coast region, especially with oil prices coming back, and petrochemicals and refining. But it's very much a regional factor. So if industries are moving to a certain region, like the South, you have to make sure you stay current with local benchmarks.

Offer Skin in the Game

Cesar herrera, ceo, yuvo health, a healthcare administrator in new york city.

We're a year-old company that provides tech-enabled administrative solutions for community health centers across the U.S. that are specifically focused on providing primary-care services for low-income individuals. We have a team of about 10 people right now, and we have a number of open roles and positions where we're likely going to be tripling the size of our team in 2022.

Google can compensate well above the market rate. We don't have that since we're an early-stage organization. What we do have as levers aren't up-front financial compensation but equity, support in your role and a relatively flat organization where you can have significant autonomy.

A lot of individuals are going to be driven by the mission; that's the case with the entire founding team. We've made sacrifices to create this organization. So you can come in at a meaningful position with a lot of decision-making.

But one of the biggest carrots we can give is, if you accept the lower pay and the risk that comes with an early-stage organization, you can have meaningful equity in the company. We have an options pool which is not to exceed 10% ownership of the organization, and as we grow and scale, we increase that options pool. For senior-level leaders, we do expect to be able to distribute up to 10% of the company to them.

Pay Extra for Continuity

Corey stowell, vice president of human resources, webasto americas, a maker of automotive sunroofs in auburn hills, mich..

We had to recruit for several hundred new openings at a brand-new facility right at the beginning of the pandemic. So we instituted an attendance bonus. For those who worked all their hours in a week, we paid an additional $3 an hour. We really had to keep it short-term, so we paid it weekly. If you wanted to pay it every month, you couldn't do it, because people needed that instant gratification.

Otherwise they could get it on unemployment. With our pay rate, they could earn more to stay at home and collect unemployment, a significant amount more than they could earn than working for us. So we also had to increase our wages, and we increased them by more than 20% in some classifications [in the summer of 2020].

We've filled all of our positions, but it's still a challenging market. We've had to increase all our wages, with the lowest for a position being $17 an hour, on up to $30 an hour.

We also have offered stay bonuses of $500 a month for three consecutive months, up to $1,500. And for hourly employees we've instituted a different attendance policy, where they can earn two hours of paid personal time for so many hours that they work consecutively with no attendance issues.

The key is the schedule—we can prepare and get someone to cover. That's easier to do than just managing whoever's going to come in today. In this environment, that really has changed with our workforce, and it's tough to rely on our current workforce.

Give Them the Keys

Elliott rodgers, chief people officer, project44, a freight-tracking software provider in chicago.

We have equipped and subsidized a van that we call Romeo, which employees can use to combine work with personal uses like family road trips. We cover the cost of the rental. It's a luxury van that comes equipped with a bed, a toilet and shower, Wi-Fi, device charging and a desktop workspace. And it's pet friendly.

We started it as a pilot project and reservations were full within 10 minutes of when we posted it internally. Then we extended it into 2022. By the end of 2021, more than 20 unique team members completed or nearly completed reservations. They've ventured out to places spanning Mount Rushmore and the Badlands; Rocky Mountain National Park; Salem, Mass.; and Pennsylvania. A pretty broad number of places.

It's something we're really proud of. It allows our team members the opportunity to work in a lot of different places while still being connected to us. And they've appreciated the opportunities to stay connected, but also be connected in other ways with nature and other places in the world. They can maintain their perspective while also continuing to contribute to their role in a productive way.

When you place a team member at the center of what they'd want in an experience like that, the value of it answers itself. It creates a comfort level where it provides the necessities for you to be able to continue to work, and you can work from anywhere. It's the best of both worlds. It's one thing to find that on your own but another to have that accessible to you via work, but done in a way that caters to you.

Help Them Come, Go—and Stay

Aamir paul, country president - u.s., schneider electric, a maker of electrical distribution and control products in andover, mass..

With our knowledge workforce, it's been about intentional flexibility. So, for instance, we launched a "returnship" program for women who'd left the workforce but might want to come back even at reduced hours. That means 20, 30, up to 40 hours a week, and we're finding some incredibly talented people who haven't been in the workforce.

This program is available to men as well. If there's a field engineer who's been in the electrical industry for 35 years and he's now retiring, but he's five years from getting his medical benefits, we say: Don't retire. Go on the program. Work 20 hours a week. Work from home. We'll reduce your pay proportionally, but we will couple you with three university hires, and they will call you on Microsoft Teams and show you what's happening on the job site, and you're going to walk them through it. Work just three days a week. We'll cover your benefits.

We've also expanded the parental leave policy, which already was one of the best in the industrial sector. And we created a way for people to buy more time off without having to leave their positions. They apply for more unpaid time off and we allow them to retain their position and seniority and allow them to work through whatever life event it is.

We landed on six weeks for the maximum. In the most intense industries—such as a fighter pilot or a surgeon—they've found that six weeks of being out of the rotation allows them to re-set. So that's what we did. Before, the limit was two weeks.

Give Sway to Local Management

Tom salmon, ceo, berry global, a maker of plastic packaging in evansville, ind..

We've got to be competitive in all the geographies we serve. We have 295 sites around the world and manage our employees in those sites geographically. Every geography will be a different labor environment. There are different criteria that employees are looking for. It's not just about wages but taking everything into consideration.

We let local management handle things with their insight about wages and competition. They're hearing directly from employees about what they like and don't like, what they want more of and less of. It's a site-by-site discussion.

For example, at some sites, it may be important for employees to be able to access the internet at lunch; at other sites, they may not value that as much. Some want a more advanced locker facility, with different shower facilities. That includes the southwestern United States, where the temperatures are warmer; but in New England, some might not want that.

In any event, if you treat these things locally, you're going to be able to affect that local population and address the need of that geography. If you blanket something across our entire plant population, you may provide something that's not desired or needed.

We depend on our local management to respond to the different demands in terms of compensation and benefits at their sites. The better the front-line leadership is, and the more satisfied their team is, the higher our retention rate and productivity and safety performance. So these leaders participate in profit-sharing plans for those respective sites, because they have a great influence on the success of a given facility.

Focus Benefits on Flexibility

Paul knopp, chair and ceo, kpmg us, a financial consulting firm in new york.

We announced a new package of enhancements to our benefits and compensation, tied to mental, physical, social and financial well-being. These increases are the biggest in the history of the company. You have to make sure your base compensation meets the market, but you also must have attractive benefits.

For example, we cut healthcare premiums by 10% for 2022 with no change in benefit levels, and we introduced healthcare advocacy services. We are replacing our current 401(k) match and pension programs with a single, automatic company-funded contribution within the plan that's equal to 6% to 8% of eligible pay.

As part of this, we're focusing on the crucial element of ensuring that employees know you're watching out for them. They also are looking for flexibility—you don't want to under-index on how important that is. So we also are providing up to three weeks additional caregiver leave, separate and apart from PTO. And all parents will receive 12 weeks of paid parental leave, in addition to disability leave for employees who give birth, allowing some up to 22 weeks of paid leave. We also have expanded our holiday calendar to now include Juneteenth.

Dale Buss is a long-time contributor to Chief Executive, Forbes, The Wall Street Journal and other business publications. He lives in Michigan.

This article is adapted from www.ChiefExecutive.net with permission from Chief Executive. C 2022. All rights reserved.

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A Study on Compensation and Benefits its Influence on Employees Performance in Milk Industry published copy online.pdf

Profile image of Dr.  Bhavani Shree A R E P A L L I MBA

Related Papers

International Journal of Engineering Science and Computing

Dr. Bhavani Shree A R E P A L L I MBA , Dr. Bharathi T.

Compensation is that the Human Resource Management functions that contend with each kind of reward that people receive reciprocally for activity structure task. It’s primarily associate exchange of relationships. Workers exchange their labor for monetary and business rewards. Monetary compensation is each direct and indirect. In India, dairying has been practiced as a rural cottage industry since the remote past. Semi industrial farming started with the establishment of military dairy farms and co-operative milk unions throughout the country towards the end of the nineteenth century, however, market milk technology is also thought-about to have commenced in 1965, with the functioning of the central dairy farm of Aarey milk colony and milk product technology in 1956 with the establishment of “Anand Milk Union Limited” (AMUL) Dairy in 1946 first milk union started in India, at Gujarat. To study the influence of monetary benefits on employees performance. To analyses the influence of non-monetary benefits on employee’s performance. To understand the influence of fringe benefits on employees performance.

compensation and benefits case study pdf

IAEME PUBLICATION

IAEME Publication

Dairying has been inherent in Indian culture for centuries. In the vast field of animal husbandry, the contribution of dairying has been most significant, in terms of employment generation, as well as income generation. In the post-independence India, co-operative dairying has been one of our major success stories, having a profound impact on socio-economic development of rural areas. The development of co-operative dairy industry is on the lines of a three-tier structure in India i.e. the primary co-operative milk producers’ society at the village level, the co-operative milk producers’ union at district level and dairy federation at the state level. The co-operative dairy unions are engaged in the provision of input services for animal health, breed improvement, feed resources development, extension services, finance and marketing. However, the ability of such co-operatives to attain their objectives is influenced by the quality of services rendered to the members apart from resource mobilization and economic growth. Hence, the fulfilment of the members' demand of timely and in a cost effective manner is very important for the success of co-operatives.

J Livestock Sci.

Hemant Sharma , S. S. Kalamkar

Present study conducted to assess the constraint faced by the milk producers in four milk unions/ district were selected from four regions of the Gujarat state, i.e. Mehsana (North Gujarat), Bharuch (South Gujarat), Junagarh (West Gujarat) and Pachmahal (East Gujarat). Four villages were selected from each district. Two villages having dairy cooperative (organised) and two villages without dairy cooperative (unorganised) from each region. Total 120 Milk Producer Selected from Organised sector and 120 milk producers from unorganised sector, the total sample size of milk producers in State were 240. The constraints were ranked by using Garrett's ranking technique. The selected household average size was 5.8 members with average age of respondents of between 44-46 years. Dairy Cooperative Society (DCS) member households recorded the adequate supply of cattle feed which was also made available on credit by cooperative society, however most of households mentioned that cost of cattle feed and miner mixtures was high. Non-Dairy Cooperative Society (NDCS) member households faced other constraints such as lack of marketing facility for dairy business, unavailability of chilling facilities at village level for milk preservation, unavailability of medicine and equipments required for quality milk production. The animal husbandry departments must be rejuvenated to act as drivers of growth for dairy sector. The veterinary literature should be provided in village and Dairy Federation should be provided marketing facilities at village level for the outlet of milk and milk product. The loan sanction procedure should be made easy.

Andita Sayekti

Food security has become one of the most important issue of the world. One of the aspects of food security is fulfilling the need of milk products. According to Food and Agriculture Organizations of United Nations (FAO), approximately 150 million households around the globe are engaged in milk production. Indonesia as one of the most populated countries has high need of milk products. Aiming to increase production volume and improvement of competitiveness of Indonesian milk products, small farmers are confronted with the challenge of challenging paradigms of bureaucracy, centralization, stability, static and rigid policies and procedures, and sheer complacency with traditional practices. Compensation is a systematic approach to providing monetary value to employees in exchange of work performed in order to boost the performance of employees and create a more engaged workforce that's willing to go the extra mile of SMEs in milk industry. This research conducted to determine the extent of implementation of

International Journal of Management Studies

Mastan Vali

Agriculture Journal IJOEAR

The State Haryana is known for its major crops like wheat and rice and stands at the second largest contributor of food grains in India. Just like that Haryana ranks second in milk production. Dairy farming is also a form of agriculture in which milk is extracted from cow, buffalo, goat etc. then it sell by vendors from different rural and suburb regions to informal sector agents or to cooperative agents. This milk distributed further in different ways. Milk production is no more subsistence in nature and organized sector is a best example to prove it because cooperatives is an independent association of persons those fulfill their economic needs and distribution of milk and milk products is all a business as we can see it in "Haryana Dairy Development Cooperative Federation Ltd." This federation is famous by vita brand which was opened by the Haryana govt. on the pattern of Amul.

Publishing India Group

Dairy development programme plays a vital role in the socioeconomic conditions of the rural people. Higher demand for milk means adding larger number of high-breed milk producing cattle to the milk population. A large part of this cattle population is owned and reared in rural areas. Thus, small marginal farmers and landless agricultural laborers play a very important role in milk production of the country. Dairy farming can also be centered where the demand for milk is high. The cooperative movement for milk was started in India in the last decade of the nineteenth century with two objectives in view-protecting the farmers from the hands of the private money lenders and improving their economic condition. This paper endeavors to understand the socioeconomic status of milk producers of primary milk societies. To study socioeconomic status of milk producers, 90 milk supplying members from seven dairy primary societies out of fourteen societies having membership of 1027 were considered. Primary data were collected through schedule questionnaire; for the purpose of conducted survey only milk supplying members were selected by way of random sampling method. The primary data is processed by using SPSS package for drawing necessary results. The empirical results show that majority of members are above poverty line and55.6% of them earn between Rs.5000 to 10000 p.m. The study also reveals that nearly 77.8% of the respondents are happy with the dairy business but 60% of them responded that new generation of their family should not continue with the same business. This paper also attempts to focus on a discussion on member's perception of quality of services provided by the dairy milk societies in study area. The various aspects considered in the study are: opinion about satisfaction from various services provided by dairy societies, extension services like training, advisory service, education tour, etc..

Agricultural Economics …

Raka Saxena

Society of Extension Education, Agra

Nischay Patel

The present research study was under taken in Aravalli district of North Gujarat. Ex-post facto research design was used for the study. The four talukas namely Modasa, Malpur, Bayad, Dhansura were selected purposively. The research study was under taken with broad objective to assess the economics of milk production on commercial dairy farms and find out its relationship with selected personal and socio-economic attributes of commercial dairy farm owners. Economic analysis revealed that the expenditure on total feed and fodder was the highest among all components of gross cost. The Net cost of milk production per liter was found as Rs. 21.78 and net income per liter was found as Rs. 4.96. The correlation coefficient analysis revealed that the adoption and economic motivation were the positive and highly significant variables, while training received, knowledge and extension participation exerted positive and significant effect on economics of milk production

IRMA Working Papers

Udita Chaudhary

The cost and returns in milk production from local cows and buffaloes, and across dairy farmer categories based on Standard Animal Units (SAUs) of cattle herd they raise have been estimated using primary data obtained from 416 members and non-members of farmer collectives (a co-operative union and a milk producer firm) in the Saurashtra area of Gujarat in January-February 2020. Membership in farmer collective groups, such as co-ops and producer firms, is lucrative for dairy farmers, particularly those with small (1-3 SAUs) and medium (3-6 SAUs) herd sizes. Farmers in the medium bracket profit the most from local cow and buffalo milk production, with a return of Rs. 7 and Rs. 21 per litre, respectively. Members endure 12% less overall average feed cost and 11% less Total Variable Cost (TVC) per animal on a daily basis compared to non-members. With the yearly bonus/incentive obtained by farmer collective members, their total return per litre is 25% above that of non-members. The average yearly net earnings from dairy production for members are Rs. 11,641 compared to Rs. 3,955 for non-members. Strengthening the spread of farmer collective groups could make dairy farming more lucrative for a larger pool of farmers. This project was funded by the Verghese Kurien Centre of Excellence (VKCoE) at the Institute of Rural Management Anand (IRMA), Gujarat.

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  1. Compensation & benefits

    compensation and benefits case study pdf

  2. Compensation and Benefits Studies

    compensation and benefits case study pdf

  3. Classification, Compensation and Benefits Study

    compensation and benefits case study pdf

  4. Download Employee Compensation and Benefits PDF Online 2022

    compensation and benefits case study pdf

  5. Compensation & Benefits NHRDN Workshop Pune, 17th March 2012

    compensation and benefits case study pdf

  6. Compensation Management CASE STUDY

    compensation and benefits case study pdf

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  1. Compensation Plan Overview and how to Make Money with it

COMMENTS

  1. 12 Case Studies of Companies that Revised How They Compensate ...

    January 26, 2022 | Dale Buss Reuse Permissions SHRM has partnered with ChiefExecutive.net to bring you relevant articles on key HR topics and strategies. Higher compensation is part of the...

  2. Employee Compensation and Benefits: Case Study on Presidency College

    Employee Compensation and Benefits: Case Study on Presidency College, Bangalore Badri HS* Abstract Company/Institution's achievements are decided in large part by the compensation and benefit plans. Compensation and benefits have a major role to play in the decision-making process of job seekers.

  3. Employee Compensation and Benefits: Case Study on

    Employee Compensation and Benefits: Case Study on - ProQuest Jump to: Full Text Abstract Details Company/Institution's achievements are decided in large part by the compensation and benefit plans. Compensation and benefits have a major role to play in the decision-making process of job seekers.

  4. (PDF) The Effect of Compensation and Benefits Towards ...

    According to Kadir et al. (2019), employee benefits encompass a range of provisions, such as healthcare, income protection, savings, and retirement plans, ensuring the well-being and financial...

  5. (PDF) IMPACT OF COMPENSATION ON EMPLOYEE PERFORMANCE

    Compensation is an integral part of human resource management which helps in motivating employees and improving organizational effectiveness, as it seeks to address the long-term issues relating ...

  6. Compensation & Benefits: Articles, Research, & Case Studies on

    23 Jan 2024 Research & Ideas How to Keep Employees Productive: Support Caregivers by Kara Baskin Three-quarters of US employees are balancing caregiving with their careers. If companies could prevent five of them from quitting, they could save $200,000. Joseph Fuller offers a seven-point plan for supporting the sandwich generation and beyond.

  7. Compensation, Benefits, and Total Rewards: A Bird's-Eye (Re)View

    Research on compensation and employee benefits has enjoyed a long and rich history. Energized by a new generation of scholars, changes in the broader workplace context, and developments in adjacent areas of inquiry, many classic theoretical tensions and research questions have begun to evolve in novel directions, and exciting new areas of research are developing. In addition, there have been ...

  8. (PDF) COMPENSATION AND BENEFIT

    (PDF) COMPENSATION AND BENEFIT COMPENSATION AND BENEFIT Authors: Ilona Buciuniene ISM University of Management and Economics József Poór Selye Janos University in Komarno - Selye Janos...

  9. PDF Compensation and Benefit Design: Applying Finance and Accounting

    ment of the practice of compensation and benefits design. For most firms, people costs are the lion share of both direct and indirect expenses. Managing it requires sound accounting, financial management, and good business judgment. Biswas makes an excel-lent case for extending the HR skill set to include accounting, finance, and business ...

  10. The Effect of Compensation and Benefits Towards Employee Performance

    [6]. Thus, this study conducted to analyse the effect of the compensation and benefits towards lecturers of XYZ College's performance. 1.2 Problem Statement For this study, compensation and benefit for the employee has it problem during the process. This is because, sometimes there are unfair compensation to the employee because of

  11. PDF A Literature Review on Compensation Management Practices

    Compensation management, also known as wage and salary administration, remuneration management or reward management, is concerned with designing and implementing total compensation package for the employees.

  12. PDF The Effects of Compensation on Employee Productivity a Case Study of

    The specific Objectives of the study will be: to evaluate the effects of direct financial compensation on employee productivity at KLB Nairobi, to determine the effects of indirect compensation on employee productivity at KLB Nairobi, to examine the effects of Non-financial compensation on employee productivity at KLB Nairobi.

  13. PDF Assessment of Employee Perception on Compensation and Benfiet Practices

    COMPENSATION AND BENFIET PRACTICES: THE CASE OF ... Compensation; benefits; employee's perception; Employee perception: Ethio telecom . 1 CHAPTER ONE INTRODUCTION 1.1. Background of the study Compensation and benefit is a reward that employees receive in exchange for their performance. It is concerned with wages and salaries, pay raises, and ...

  14. PDF COMPENSATION & BENEFIT MANAGEMENT

    (2019-20) SYLLABUS MBA PROGRAM EDUCATIONAL OBJECTIVES (PEO's): To teach the fundamentals of the key elements of a business organization. To provide a critical perspective on theoretical knowledge and practical approach to various functional areas of management and decision making.

  15. (PDF) Study on Compensation and Benefits its Influence on Employee's

    Study on Compensation and Benefits its Influence on Employee's Performance in Milk Industry DOI: Authors: Bhavani Shree Vidyvardhaka College Of Engineering Manjunath Shivaramu Vidya Vardhaka...

  16. (PDF) Employee Compensation & Benefit Management: A study on Singer

    Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd. 20 The four policies are: Administration Consistency Competitive Contribution ness Figure: Four Basic Policies Consistency: HRD recommend or choose to compensate the employees performing according to the company's standard of performance level.

  17. Employee Compensation and Benefits: Case Study on Presidency College

    Compensation and benefits have a major role to play in the decision-making process of job seekers. Compensation involves how employees are paid, hourly or salary, and benefits involve the type of medical insurance, annual PhD allowance, annual performance incentive pay of up to a month's salary and retirement benefits.

  18. Employees' Perception towards Compensation and Benefit Policy: The case

    This study examined the perception of employees regarding the compensation and benefit policy in government higher education institutions found in Addis Ababa. 150 employees from three institutes namely Addis Ababa University, Ethiopian Civil Service College, and Kotobe College of teachers' education participated in this study and 96 questionnaires were returned that gave a response rate of 64%.

  19. Compensation and Benefits: The Complete Guide

    Compensation and benefits (also known as comp & ben) refer to the rewards an organization provides to its employees in exchange for their labor. An attractive compensation and benefits plan can help you attract and retain top talent and keep them happy, motivated, and engaged at work.

  20. PDF The Compensation Management Practices: a Case Study of Selected Private

    Rivai, Fawsi, Silviana, & Abdullah (2005) added that compensation can be used to strengthen organizational structure; to attract and retain good talents; to make competitive advantages; to motivate employees; to achieve high-performance; to compensate employees based on legal requirements; to help the organization in their strategic goals.

  21. Compensation and Benefits

    Compensation and Benefits - Case Study | PDF | Cost Of Living | Motivational Compensation and Benefits - Case study - Read online for free. Compensation & Benefits

  22. (PDF) A Study on Compensation and Benefits its Influence on Employees

    A Study on Compensation and Benefits its Influence on Employees Performance in Milk Industry published copy online.pdf ... Economic process and price of living has caused incessant compensation just in case of lay-off and retrenchment. The demand for provision of additional profit to the staff. non-seasonal industrial institutions using fifty ...

  23. (PDF) Compensation and benefits: Attracting and retaining top talent

    PDF | On Jan 16, 2018, Cam Caldwell and others published Compensation and benefits: Attracting and retaining top talent | Find, read and cite all the research you need on ResearchGate

  24. (PDF) Describing Companies' Compensation Practices: A Case Study of

    The compensation practices in the case of retailing and manufacturing companies of Pagadian City. When a company fails to have a structure and transparency on how pay choices are made, it may be ...