Performance and

Compensation Management:
Analysis Report
ORGANIZATION STUDIED: STYLO

SUBMITTED TO:

MAAM QUDSIA IFTIKHAR

SUBMITTED BY:

ALEENA AHMAD (118)

KASHAF AZIZ (129)

NIDA IJAZ (159)

Submission Date:
UMM UL BANEEN ZAHRA (157)
21-11-2017
 Table of Contents
ACKNOWLEDGEMENT ............................................................................................................................... 4
PREFACE …………………………………………………………………………………………………….5
INTRODUCTION............................................................................................................................................ 6
Purpose ................................................................................................................................................... 6
Scope ...................................................................................................................................................... 6
Sources and Methodology ...................................................................................................................... 6
DEFINITIONS ................................................................................................................................................. 7
DESCRIPTION OF THE TECHNICAL TERMS ................................................................................. 7
Performance Appraisal ................................................................................................................... 7
Compensatiom................................................................................................................................ 7
Intrinsic Compensation .................................................................................................................. 7
Extrinsic compensation .................................................................................................................. 7
Seniority pay .................................................................................................................................. 7
Merit pay ........................................................................................................................................ 7
Incentive pay .................................................................................................................................. 8
Discretionary benefits .................................................................................................................... 8
Buy back......................................................................................................................................... 8
Improshare...................................................................................................................................... 8
ABBREVIATIONS ................................................................................................................................ 9
LIST OF TABLES AND ILLUSTRATIONS ...................................................................................... 10
COMPANY PROFILE ................................................................................................................................... 10
Logo ..................................................................................................................................................... 11
Vision ................................................................................................................................................... 11
Mission ................................................................................................................................................. 11
Objectives ............................................................................................................................................. 11
Products ................................................................................................................................................ 11
Services ................................................................................................................................................ 12
Appraisal Process ........................................................................................................................................... 12
Performance Management at Stylo ................................................................................................................ 14
Appraisal Process at Stylo .................................................................................................................... 14
Clarifying and communicating expectations and consequences .......................................................... 14
Annual Confidential Report ................................................................................................................. 15
 Supervisor’s Role ................................................................................................................................. 15
APPRAISAL METHOD AND TOOLS RECENTLY BEING USED AT MIDDLE LEVEL IN STYLO ... 15
ERRORS IN APPRAISAL TOOLS USED ................................................................................................... 16
APPRAISAL INTERVIEW: GENERAL PREFERENCES AT STYLO ...................................................... 16
MAJOR PROBLEMS IN APPRAISING EMPLOYEES AT STYLO .......................................................... 16
LEGAL AND ETHICAL ISSUES IN APPRAISING EMPLOYEES........................................................... 17
MANAGEMENT OF COMPENSATION AND BENEFITS AT STYLO ................................................... 17
ESTABLISHING PAY RATES: THE PROCESS AT STYLO .................................................................... 17
TRADITIONAL BASES FOR PAY AT STYLO ......................................................................................... 17
Status of Seniority Pay Practices .......................................................................................................... 17
Status of Merit Pay Practices ................................................................................................................ 17
INCENTIVE/ VARIABLE PAY PLANS ...................................................................................................... 18
Incentives for Professional and Technical Staff ................................................................................... 18
Incentives for Managerial and Executive Staff .................................................................................... 19
Person focused Pays ............................................................................................................................. 19
ORGANIZATION WIDE INCENTIVE PLANS .......................................................................................... 19
INTRINSIC COMPENSATION .................................................................................................................... 19
LEGAL SIDE OF COMPENSATION AT STYLO ...................................................................................... 21
Working Hours ..................................................................................................................................... 21
Minimum wage rate.............................................................................................................................. 21
Payment of wages ................................................................................................................................. 21
Fines ..................................................................................................................................................... 22
Sickness Benefits .................................................................................................................................. 22
Disabled Persons Employment ............................................................................................................. 22
Equity among Workers Pay .................................................................................................................. 23
BENEFITS AT STYLO ................................................................................................................................. 23
Insurance Benefits ................................................................................................................................ 23
Education Allowance ........................................................................................................................... 23
Provident Fund ..................................................................................................................................... 23
Retirement Benefits .............................................................................................................................. 23
Discretionary Benefits .......................................................................................................................... 23
1. Protection Programs ..................................................................................................................... 23
2. Pay for the time not worked (Leaves and their types) .................................................................. 24
 3. Services (Day Care Centers) ........................................................................................................ 24
CONCLUSION AND RECOMMENDATIONS ........................................................................................... 24
REFERENCE LIST ....................................................................................................................................... 25
APPENDICES................................................................................................................................................ 25
Appendix A……………………….………………………………………………………………..…26
Appendix B……….…………………………………………………………………………….…….27
 ACKNOWLEDGEMENT
First of all, we thank ALLAH Almighty, who gave us power, wisdom and ability to complete the
task which was assigned to us. We are also grateful to our Course Instructor Ma’am Qudsia
Iftikhar who gave us an opportunity to explore and polish our skills. we are obliged to Mr. Abid
Salar and Mr. Ali Saqlain to provide quality information about Stylo’s compensations procedures
and performance appraisal.

“We dedicate our work & efforts first of all to Almighty Allah and His Beloved Prophet (P.B.U.H)
and our Parents with dedication, love and gratitude without whom caring support it would not have
been possible”
 PREFACE
The project report is about the compensation policies implemented in Stylo. In this project the
board policies of the Company, Performance appraisal system, Current issues in performance
appraisal system, and the compensation procedure of the company has been discussed. An
attempt has been made to observe how they measure the performance of the employees and
compensate them on the basis of their performance.
INTRODUCTION:

Purpose:
It is a purely an educational research. In the course of “performance and compensation
management” this project is mandatory. All the information that we have gathered can be used
for further educational or research purpose. After doing this project the suggestions and
recommendations can be helpful for the company.

Scope:
This project includes details about how employees of the company are appraised and
compensated. On what basis, they are given appraisal and compensation. At what time
performance appraisal and compensation takes place in the company and how performance
appraisal is used for compensation purpose. It also includes the methods and tools that are used
for appraisal, issues and legal problems during appraising employees in the company. We also
studied the method of establishing pay rates and criteria for giving seniority and merit pays,
incentives, benefits, bonuses and protection programs.

Sources and Methodology:

Sources:
Mr.Abid Salar (Manager PMS and EE)
Mr. Ali Saqlain (Executive PMS and EE)

Methodology:
We went to Stylo’s head office and interviewed Manager PMS and EE and Executive
PMS and EE. We conducted interview on the basis of unstructured questions.
DEFINITIONS:

DESCRIPTION OF THE TECHNICAL TERMS:

Performance Appraisal:
An annual review of an employee’s overall contributions to the company by his/her
manager. Performance appraisals, also called annual reviews, evaluate an employee’s skills,
achievements and growth, or lack thereof. Companies use performance appraisals to give
employees big-picture feedback on their work and to justify pay increases and bonuses, as well
as termination decisions.

Compensation:
Compensation represents both the intrinsic and extrinsic rewards employees receive for
performing their jobs.

Intrinsic Compensation:
Intrinsic compensation reflect employees psychological mind sets that results from
performing their jobs.

Extrinsic compensation:
It includes both monetary and non-monetary rewards. Monetary compensation represents
the core compensation and non-monetary rewards include protection program, paid time and
services.

Seniority pay:
Seniority pay system reward employees with periodic addition to base pay according to
employee’s length of service in performing their job.

Merit pay:
Merit pay programs assumes that employee’s compensation overtime should be
determine at least in part, by differences in job performance.
Incentive pay:
Incentive pay or variable pay reward employees for partially or completely attaining a
predetermine work objective.

Discretionary benefits:
Discretionary benefits fall into 3 broad categories protection programs, paid time off and
services.

Buy back:
A buyback, also known as a repurchase, is the purchase by a company of its outstanding
shares that reduces the number of its shares on the open market. Companies buy back shares for
a number of reasons, such as to increase the value of shares still available by reducing the supply
of them or eliminate any threats by shareholders who may be looking for a controlling stake.

Improshare:
Improshare is “Improved Productivity through Sharing” and was coined by Mitchell Fien.
Improshare is a type of group bonus that is gained depending on the productivity of the team.
Productivity is measured through amount of output produced in a given time period. The bonus
amount depends on both employees who contribute directly and indirectly to the output.
ABBREVIATIONS:

PMS Performance Management System

SCM Supply Chain Management

HR Human Resource

CEO Chief Executive Officer

ASM Assistant Store Manager

MIS Management Information System

BM Brand Manager

L&D Leaning and Development

PA Performance Appraisals

QA Quality Assurance

GM General Manager

IT Information Technology

CMO Chief Marketing Officer

CIO Chief Information Officer

BM Branch Manager

DGM Deputy General Manager

LIST OF TABLES AND ILLUSTRATIONS:

Table 1 Percentage of increments given according to

the category
Intrinsic Compensation Pictures of wall of fame and recognition as
high achievers.

COMPANY PROFILE:
Introduction of the company:

Stylo is derived from style. Stylo shoes was started in Lahore’s Anarkali Bazaar, in 1974.
Stylo has become one of the most recognized names in Pakistani footwear and has no intention
of slowing down. The brand has almost 127 stores in overall Pakistan. This phenomenal turn
around in the company’s fortune owes as much to the vision to the founder Izhar Hussain
Siddiqui. The organization has a workforce of 3,000 in its 11 departments. It is ISO 9001-2000
certified company, the brand never has, nor ever will compromise on quality.

A large part of Stylo’s successful journey as a reputable brand is its ability to stay on top
of the trends in a mercurial market. The brand has become quick at anticipating changes in
fashion and catering them with unparalleled swiftness. Also understanding the diversity of its
market, the brand promises a vast variety of its products. From casual flip-flops to professional
court shoes to jewel encrusted bridal-wear, this is a brand that can truly claim that its range is all
encompassing.

In the spirit of unceasing exploration and its core goal of staying a few steps ahead of the
competitors, Stylo has also tapped into two specialized markets: children’s and semi sporty
footwear. The demand for these products has given birth to two sub-brands: Stylo Kids and
Impulse.

Stylo Kids offers footwear for children in designs and styles similar to the adult range
and is available at every Stylo store. Impulse specializes in pumps, also offers sneakers, joggers
and sporty sandals. With specialized T.P.U soles, Impulse footwear ensures extra comfort and
softness to the wearer.
Logo:

Vision:
The vision of Stylo is touching the international market.

Mission:
The mission of Stylo shoes brand is to make fashionable footwear that satisfies their
customer needs.

Objectives:
The main objectives of Stylo are based upon business objectives, which are as follows:

1) To maximize profit.

2) To increase market share.

3) To increase their growth.

4) To become market leader.

Products:
Main purpose of Stylo is to provide stylish, trendy and durable shoes. It includes:

1) Ladies shoes

2) Kids footwear
 3) Ladies Accessories (Hand bags, jewelry)

4) Casual fabric named „FABRIZIO‟

Services:
•They also offer after sales services.

•Defected shoes can be repaired or changed.

•Misplacement of stones from jewelry, shoes or clutches can be repaired/ placed.

•They also offer warranty of shoes and accessories.

•Stylo also make sure that their customers could get the best service possible and for their
convenience, contact information is given on their site. purchased can be changed within a week.

Appraisal Process:
The appraisal process includes following steps:

1. Establish Performance Standards

2. Communicate Performance Expectations to Employees
3. Measure Actual Performance
4. Compare Actual Performance with Standards
5. Discuss the Appraisal with the Employee
6. Initiate Corrective Action
7. Give Feedback
1. Establishing Performance Standards:

The performance appraisal process starts with establishment of performance standards

that are the benchmarks for an employee. Supervisor should establish clear standards for which
an employee will be evaluated. Standards must be realistic, attainable so that employees don’t
become demotivated.

2. Communicate Performance Expectations to Employees:

 After establishing expectations, they should be clearly communicated to the employees.
Once they have been communicated; it should be made clear that has the employee
understood it or not?

3. Measuring the Actual Performance:

It is a crucial step in appraisal process. There are various methods to measure

performance for example essay evaluation, rating scale, paired comparison method. In this
stage, the actual performance of the employee is measured on the basis of information
available from various sources such as personal observation, statistical reports, oral reports,
and written reports. Measurement must be objective based on facts and findings.

4. Compare actual performance with standards:

In this stage, the actual performance is compared with the predetermined standards. This
comparison will enable the determination of the gap between the actual and the expected
performance; such gaps can be bridged through training and development.

5. Discuss the appraisal with the employees:

The performance appraisal process does not end with mere evaluation of the
performance. This is, in fact, one of the most challenging tasks the manager’s face to present an
accurate appraisal to the employees and then make them accept the appraisal in a constructive
manner. This will help the employees to identify their weaknesses and strengths. It will help the
employees to take actions to overcome their week areas.

6. Corrective Actions:

After discussion; corrective actions are taken by employee suggested by supervisor. Once
the suggested supervisor’s suggested corrective action has been implemented in the given course
of time then feedback upon that corrective action is given.

7. Give Feedback:
 After corrective actions feedback is given upon it. After the consensus of both parties
upon it feedback is finalized.

Performance Management at Stylo:

Appraisal Process at Stylo:

Appraisals in their company are done annually but they review it on departmental level
quarterly. Once organizational goals have been established after that departmental and then
individual goals are assigned. Individual goals are set by MBO.

Organizational Departmental Individual

Goals Goals Goals

Steps:
Organization wide goals are set in June. After that in the middle of June departmental and
then till end of June individual goals are set. Standards from past trends and current practices are
set. Standards and goals are well communicated to the employees in time. After that employee
actual performance is measured. Then actual performance of the employee is measured against
standard. After that ACR is shared with the employee and is discussed. Based on that discussion
supervisor suggests corrective actions and after implementing those corrective actions feedback
is given upon it.

Clarifying and communicating expectations and consequences:

Stylo sets and communicates standards. Their goals are set through MBO. After
the establishment of organizational and departmental level; individual goals are set. Expectations
from their job are clearly communicated. After this their performance is measured against set
standard. The gap between actual and desired performance is analyzed and on that basis rating is
given to employee. Rating is given on the KPI’s established for every employee. Their financial
closing is in June. The goals for every employee for first quarter are set between May and June.
Employees are made clear about what they will get after accomplishing goals. The incentives
that will be given after accomplishing specific goals are clearly communicated.

Annual Confidential Report:

Line manager evaluates the employees who work under him. Then that form
after scoring, rating and comments is shared with an employee. Without sharing with the
employee, it cannot be finalized because employee might say that my performance was not
according to the rating that has been given to me; in that case supervisor has to report his higher
authorities. Employee writes his own comments and gives his signatures on that form. After
checking his overall weighted score; if he is satisfied the form goes to the higher authority and
compensation is given on its basis. If an employee is dissatisfied with the overall weighted score
then the line manager considers his grievance it and reviews the ACR. If the employee has any
grievance he takes it to the grievance committee that has been established for grievance
handling.

Supervisor’s Role:
Supervisor set goals with employee. Employee and supervisor set goals with mutual
consent. After the completion of goal setting; supervisor checks the progress quarterly. Their
goals are set according to every quarter period. Supervisors try their best to support employees
professionally as well as in personal life.

The following appraisal methods and tools are used in Stylo at Middle level:

APPRAISAL METHOD AND TOOLS RECENTLY BEING USED AT

MIDDLE LEVEL IN STYLO:
180-degree technique is used by an organization for performance appraisal. A 180-
degree appraisal process involves the appraise completing a self-evaluation form. The employee
rates him/herself and gives feedback on their performance. The self-appraisal is discussed and
agreed with the appraiser during an appraisal review meeting. Once the information is agreed by
both the appraiser and appraise the appraisal is signed off.

Forced distribution technique is also used there. Normal bell-shaped distribution curve
is used. Their recent bell curve included 75% average, 15% exceeds expectations and 10% in
needs improvement.

ERRORS IN APPRAISAL TOOLS USED:

In forced distribution central tendency, biasness error occurs.

Recency error is avoided as company divides goals in quarters therefore rating is given 4
times in a year and overall rating is not affected.

APPRAISAL INTERVIEW: GENERAL PREFERENCES AT STYLO:

After filling forms of performance appraisal and after giving weighted rating, it is discussed with
the employees. If an employee has any grievance regarding performance appraisal the case goes to the
grievance committee. And if he is satisfied with his appraisal the form is signed by him, his supervisor,
his department head and at last HR Manager signs on it.

MAJOR PROBLEMS IN APPRAISING EMPLOYEES AT STYLO:

 The main problem was meeting timelines as they receive ACR with delay.
 They receive many forms without descriptions for example: name, employee code etc.
 They find some forms biased. They are sometimes not realistic and facts based.
 One of the main problems is that they do not receive ACR responses according to the actual
head counts of the store and some stores send forms to them directly.
 Another major problem is duplication of employee codes in more than one forms.
 Many forms are not filled in the proper manner as the format is copied from the original sheet
to the others which changes the formulas and ultimately employee’s performance appraisal
suffers.
 Information in appraisal forms of store managers is partially and in some cases completely
missing in different regions.
LEGAL AND ETHICAL ISSUES IN APPRAISING EMPLOYEES:
If the employees have any legal issue then they go to the labor courts as the company does not
has a trade union to tackle this kind of situation.

MANAGEMENT OF COMPENSATION AND BENEFITS AT STYLO:

Establishing Pay Rates: The process at Stylo:

General Process:

1) Stylo conducts a salary survey of what other employers of competitors are paying for
comparable jobs (to help ensure external equity).
2) Determine the worth of each job in their organization through job evaluation (to ensure
internal equity).
3) They group similar jobs into pay grades.
4) For each pay grade, pay rates are determined.

Recently salary and market survey were conducted 2 months ago. After doing external
analysis of salaries internal analysis of jobs are done. The worth of each job is determined
through job evaluation. After job evaluation similar jobs are categorized into similar groups. Pay
rates are determined on the basis of the worth of the job for an organization, type of the job, type
of an individual and effort, responsibility, skills and working conditions needed in a job.

TRADITIONAL BASES FOR PAY AT STYLO:

Status of Seniority Pay Practices:

Stylo has been using seniority pay practice since its inception. But now the trend of
seniority pay over there is declining since last 3 years.

Status of Merit Pay Practices

Since last 3 years merit pay practices in Stylo have started increasing because now the
world is becoming quite competitive and in organizations employees want them to be paid on the
basis of their performance not on length of the service therefore Stylo has started increasing the
level of Merit pay.

90% of their workforce is below 35 years. And as they are youngsters they want
themselves to be paid on the bases of their performance. But remaining 10% are above 35 years
and they try to avoid uncertainty. For some of them (from the category of employees greater
than 35 years) as they are very senior as well as loyal to the company and have been working
over there for many years with determination the company is providing them seniority pay
because they don’t accept change abruptly.

Overall company is moving towards greater merit pay and lesser seniority pay.

INCENTIVE/ VARIABLE PAY PLANS

Incentives and promotion are given in Stylo on the basis of the performance and
achievements. If an employee doesn’t perform well consistently then warning is given to him 3
times and if there is no improvement for long time then he is DE promoted as per new policy.

Increments are given to the employees according to the level of their performance. In
Stylo performance is categorized into 4 categories:

1. Unsatisfactory
2. Satisfactory
3. Meets expectations
4. Exceeds expectations

Percentage of increments given according to the respective categories are as follows:

Category Percentage of increment

Unsatisfactory 2%
Satisfactory 5%
Meets expectations 10%
Exceeds expectations 20%
Table 1: Percentage of increments given according to the category

The ones who fall under the category of unsatisfactory are given small amount of
increment for retaining them and motivating them for increasing their performance. However, if
they do not increase their level of performance within 6 months then they are issued warning
letter and after 1 yea they are de promoted.

Incentives for Professional and Technical Staff

For professional and technical staff some of the incentives include professional and technical
trainings by outsourced persons for their personal development. cars are given to them. Improshare is
given to them.
Incentives for Managerial and Executive Staff:
Some of the incentives for managerial and executive staff includes recreational activities like
gaming at workplace is allowed in the break, they are given fuel reimbursement, cars are given to them.

Person focused Pays:

Person focused pay is given in Stylo on the basis of advancement in studies or advancement in
the skills.

ORGANIZATION WIDE INCENTIVE PLANS:

Only individual and group incentives are given. Organization wide incentives are never
given in the company.

INTRINSIC COMPENSATION:
Recognition is given to the employees as high achievers of the month and excellent performers.
LEGAL SIDE OF COMPENSATION AT STYLO:

Working Hours:
 9 hours/ days, 5 working days and 2 days weekly off is given to middle level employees.
 In retail shops 1 weekly off, 6 working days in a week and 8 hours/day is included in the job.
(As per law)

Minimum wage rate:

As per law 15000 is the minimum wage rate at Stylo.

Payment of wages:
 Wages are paid before 7th working day. (As per law)
 If any person is terminated on immediate basis he is paid before expiry of second working
day. (As per law)
 Wage period in Stylo is one month and never exceeds it. (As per law)
 Everyone is given salary through bank account. (No need of unclaimed wages pay day
according to law as it is not given in cash. It is transferred in employee’s respective bank
accounts)
 Group incentives are given in the form of leaves and additional wages to the ones who
generate profits or reach the targets before time. Sometime both additional wages and extra
leaves are given while in some cases one of them is given. (As per law)
 One-month prior notice is given before termination to permanent employees. (According to
law)
 Notice to contractual employees is also given before termination. (It is not required by law)

Fines:

 Deductions for any kind of damage or loss above 500 are recovered. (According to the law)
 Deductions for pick and drop services who avail them. (As per law)
 Deductions for child care services by the ones who avail them. (As per law)
 Deductions of any advances or loan if they are taken. (As per law)
 Income tax is deducted for every employee’s salary. (According to the law)
 Deductions from wages because of being absent from the duty when he was required to come
according to the terms and conditions of his employment. (As per law)
 Disabled person employment:
 Aftari and Sehri allowance is given for retail shops.

Sickness Benefits:
 7 days maternity leave is given. (As per law it is 12 weeks that is not being followed)
 3 days paternity leave is given.
 30 paid days for Hajj once in a service and 30 paid days for Umrah once in a service are
given. (Not required by law)
 Provident fund is given.
 Death grant is given in case of a secured person (According to the law)
 On duty injuries are given complete medical assistance whereas if a person becomes disabled
then he is given 50% of the salary by the company.
 Old Age Benefit is given to the employees above 60 years who are currently above 60. But
now Stylo’s policy has changed. New comers won’t be given any old age benefit. (In law
OAB should be given that is being followed at this time but won’t be followed after 6
months).

Disabled Persons Employment:

No disabled person is employed at Stylo (As per law quota of 2% of disabled persons
must be employed.)
Equity among Workers Pay:
20% of the total workforce employed is from female side. Pays are given to them
according to the worth of their job and no discrimination among males and female takes place.
(As per law)

BENEFITS AT STYLO:

Insurance Benefits:
Life insurance of an employee and health insurance of employee, his spouse and children
are given.

Education Allowance:
If any employee wants to enhance his knowledge then allowance for his study is given to
him according to the level of study he wants to do. For matric 100%, Intermediate 75%,
undergraduate 50% and for post-graduation 25% of fee is paid.

Provident Fund:
Provident fund is given in Stylo. 6% of the salary is contributed by employee and
employer both.

Retirement Benefits:
Retirement benefits are given to only those who are really senior in an organization. All
of the employees who are below 35 now are not given retirement benefits and all those who will
be recruited in the future won’t be provided this benefit because company has started changing
its policies and in new policies retirement benefits have been excluded but old employees are
given this benefit as per our old policy.

Discretionary Benefits:
Discretionary benefits include protection programs, paid time off and services.

1. Protection Programs:
In Stylo family benefit of medical care for the dependents and parents is given. In OPD
upto 300000 of expense is allowed. In case of serious illness of the employee like cancer or TB
he is given 365 days of paid leave. Normal and caesarean delivery service is given free of cost.
 2. Pay for the time not worked (Leaves and their types):
 14 Annual earned leaves are given after one year of service. Encashment of these leaves is
possible if they are unavailed at the time when employee leaves the organization. These
leaves can be carry forwarded to the next year if they are unavailed. (According to the law)
 Festivals and government holidays are given as announced. (According to the law)
 10 Paid Casual leaves. (According to the law)
 8 Sick leaves are given. Medical certificate is necessary in case treatment is done other than
company’s allowed hospitals. (It is not given as per law. By law 16 Sick leaves are written)

3. Services (Day Care Centers)

Facility of day care center is given to all employees in the organization.

CONCLUSION AND RECOMMENDATIONS:

The company is using PMS not Competency based Performance Management System(CPMS).
For increase in the productivity and effectiveness of employees they should start working on CPMS. They
are giving almost similar incentives to all employees which might be a demotivating factor for the ones
who put extra effort. Overall Performance Management System is quite well designed but they have
issues in implementing it. For decrease in the problems faced during Performance Appraisal training
should be given to whole staff. Retirement Benefits should be given to employees. Gain sharing should be
introduced in the company.

REFERENCE LIST:
J.Martocchio (1998). Strategic Compensation

https://www.scribd.com/doc/113669958/Stylo-Shoes-Report

APPENDICES:

Appendix A
Appendix B

Visting Cards:
Organogram: