CASE BASED PRESENTATION

ON COMPENSATION PRACTICES OF DIAMONDSOFT Presented By Mir Dildar Hossain Rajnish Kumar Sarita Yadav Priyanjali Srivastava

ABOUT THE COMPANY

Diamondsoft is a US based software company whose business was in executing completely designed projects in ERP software development. The company was managed by team leaders and vice presidents. Software Developers were the asset of the company. Hence, employee retention was the biggest challenge for the company.

COMPENSATION PRACTICES OF THE COMPANY

Compensation is the sum total of rewards for job related efforts of the employees and also for their commitment and involvement in the job.
For the retention of employees in addition to providing precautionary work environment and self respect the company also offers its employees pay packages,incentives etc. with its entire focus on employee retention

PROBLEMS

Substantial differentials in gross compensation of the team leader with that of the software developer.

Discrimination in increment percentages across levels.

Wide variation in conveyance allowance across levels. Deferral in compensation include provident fund, gratuity,pension and loyalty bonus.

RESTRUCTURING THE COMPENSATION POLICIES

There must not be substantial differential in gross compensation of the team leader with that of software developer. Increment percentage should be same for all the levels in the company . Conveyance allowance to be provided at the same rate across different levels. Provision for non-taxable allowances should be for all the levels not only for team leaders. Discretionary rewards should be provided to all the software developers also.

THANK YOU !