Employee Compensation & Benefits Management-: A Study On Singer Bangladesh LTD

Employee Compensation &
Benefits Management-A Study on Singer

Bangladesh Ltd.
Employee Compensation &Benefits Management:

A Study on Singer Bangladesh Ltd.
Prepared For:
Abdul Kader Nazmul

Assistant Professor
American International
University-Bangladesh (AIUB)
Prepared By:
Mohammad Azizul Haque – Id: 10-94267-3
Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd. 1

Sandra Heleny Sinthia – Id: 11-94533-1
Md. Naimul Islam – Id: 10-94001-2
S.M.Mustafizur Rahman – Id: 10-94235-3
Section: A
Faculty of business Administration
American International
University-Bangladesh (AIUB)
Date of Submission: 4th December,2011

Date: 4th December,2011
To
Abdul Kader Nazmul

Assistant Professor
American International University- Bangladesh
(AIUB)
Subject: Submission of report on “Employee Compensation & Benefits Management-A Study

on Singer Bangladesh Ltd.”
Dear Sir,
It is our great pleasure to submit the report on “Employee Compensation & Benefits
Management-A Study on Singer Bangladesh Ltd”. This is a partial requirement of the course
“Human Resource Management”. Despite of several limitations, we hope that the paper has

attained its purpose to a considerable extent. We thank you for allowing us the opportunity to do
the report on this topic.
We have done our level best to complete this paper in time and with the quality of our
expectation. We are thankful to you for giving us this opportunity. We hope you would be kind
enough to accept our report. We will be happy to provide further clarification regarding this
report.
We hope that our report will aid to make concrete decision and live up to your expectation.
Sincerely Yours,
.............................................
Mohammad Azizul Haque
Id: 10-94267-3
.............................................
Sandra Heleny Sinthia
Id: 11-94533-1
.............................................
Md. Naimul Islam
Id: 10-94001-2
.............................................
S. M. Mustafizur Rahman
Id: 11-94235-3
Table of Contents
1.0. Introduction
1.1. Background of the Study

1.2. Rational of the Study
1.3. Objective of the Study
1.4. Methodology of the Study

1.5. Limitations of the Study
2.0. Company Profile
2.1. History of Singer

2.2. Mission, Vision, Value Statement & Management Philosophy
2.3. Board of directors
2.4. Product of Singer Bangladesh Ltd.
3.0. Compensation & Benefits Management Analysis
3.1. Compensation
3.2. Types of Compensation
3.3. Compensation as component of HRM
3.4. Job Evaluation
3.5. Job Evaluation Methods
3.6. Establishing pay structure
3.7. Board of directors
3.8. Establishing Compensation Plan
3.9. Executive Compensation
4.0. Compensation Management Practice at Singer Bangladesh Ltd.
4.1. Performance Based Evaluation measure

4.2. Compensation System of Singer.
4.3. Types of Compensation provided by singer
4.3.1. Direct Compensation Benefit provided by singer
4.3.2. Indirect Compensation Benefit provided by singer
5.0. Analysis & Interpretation of data
6.0. Problems & Recommendation
7.0. Conclusion
8.0. References
Acknowledgement

First and foremost, we would like to thank to our course instructor of the Human
Recourse Management, Abdul Kader Nazmul, Assistant Professor, AIUB, for the
valuable guidance and advice. He inspired us greatly to work in this term paper.
His willingness to motivate us contributed tremendously to our work. We also
would like to thank him for his valuable time by helping us for this term paper.
Mr.Abdul Kader Nazmul, lifted us up when we were not sure we would or could
ever get to the finish line. Thank you for supporting us, for challenging us, for
teaching us, but most of all, for believing in us. We honestly could not have done
it without you and your help.
Besides, we would like to thank the Singer Bangladesh Ltd. We are very thankful
to them as they gave their precious time for us. Their cooperation really helps us
to analyze and finalize this report.
Finally, an honorable mention goes to our families and friends for their
understandings and supports on us in completing this report. Without helps of the
particular that mentioned above, we would face many difficulties while doing this
project.
Introduction
1.1. Background of the Study

Human Resource Management (HRM) has never been as significant as it is today. Companies
want to attract, retain and motivate brains to meet objectives. Today Humans are regarded as one
of every company’s assets so they need to be efficiently and effectively managed. One of the
tools companies use to attract, retain and motivate its people is Compensation Management.
Compensation is an integral part of human resource management which helps in motivating the
employees and improving organizational effectiveness.
Employees today are not willing to work only for the cash alone, they expect 'extra'. This extra
is known as employee benefits. Also known as fringe benefits, Employee benefits are
nonfinancial form of compensation offered in addition to cash salary to enrich workers’ lives.
Human Resource is the most vital resource for any organization. It is responsible for each and
every decision taken, each and every work done and each and every result. They should be
managed properly and motivated by providing best remuneration and compensation as per the
industry standards. The lucrative compensation will serve the need for attracting and retaining
the best employees.
So, Human Resource managers’ task is to carefully design the organization’s benefit package.
They have to plan about what benefits should offer to whom and on which basis? Definitely all
the employees will not get the same benefit. A sales person and a receptionist will get different
benefit but inadequate benefits do contribute to low satisfaction level and increase absenteeism
and turnover in employees.
1.2. Rational of the Study
Employee Benefit & Compensation is an integral part of human resource management which
helps in motivating the employees and improving organizational effectiveness. An idle
compensation & Benefit management system will help an organization significantly boost the
performance of its employees and create a more engaged workforce that’s willing to go the extra

mile for an organization. That is why we have decided to do our report on “Employees Benefit
& Compensation management”
1.3. Objective of the Study
Broad Objective:
To know about the Employee compensation & Benefit management system.
Specific Objective:
1. To know the compensation & Benefit management system of Singer Bangladesh Ltd.
2. To know the employee satisfaction level of Singer Bangladesh Ltd with the company’s
existing compensation & Benefit system.
3. To identify the problem of compensation & Benefit management system of Singer

Bangladesh Ltd.
4. To provide the necessary recommendation about the compensation & Benefit package of
Singer Bangladesh Ltd.
1.4. Methodology of the Study
• Population and Sample: Among all the companies in Bangladesh one company
(Singer Bangladesh Ltd.) is selected as a sample for this study.
Among all the employees of Singer Bangladesh Ltd. 20 employees has been selected as
a respondents.
• Sources of Data: Among primary and secondary source of data most of the data has been
collected from the primary source-Face to face conversation with the manager and the
officials.
• Analysis: In the analysis part tabular and graphical analysis has been done using
MSExcel.

1.5. Limitations of the Study
1) Sometimes it will be difficult to find out the actual situation inside the company.
2) Employees may not be provided proper information about compensation system of the
organization.
3) The topic is actually a confidential matter for some company. That’s why is may be
hamper us to prepare a good report.
4) Sometimes companies don’t want to disclose their internal operations. If that will happen
it may be hampering to prepare an accurate compensation system.

Company Profile
2.1. History of Singer
Singer is a well-established multinational firm with intense local recognition in consumer

household durables. Basically, it is a retail firm, which gains a prestigious position over time.
Mr. Isaac Merrit Singer in the New York city of U.S established it in 1851 with the innovation
of the first practical sewing machine of the world. After that, observing the world wide demand
Singer established its first overseas manufacturing unit in 1867 in England for reaching its
increasing potential market. In 1885, Singer originated the higher purchase plan similar to the
installment of time payment purchase plan for the less solvent housewives.
Singer began its operation in this part (present Bangladesh) of the world in the early twentieth
century during British India establishing 3 showrooms. By the time of the separation there were
23 showrooms. Now the company has 78 showrooms and about 96 exclusive agents all over the
country. In around 1979, the company floated its share and became a public limited company.
All through this time Singer was operating with only one product that is their sewing machine.
In 1984 it enhanced its product range by introducing their Refrigerator to the industry.
In the year 1991 they start the marketing of the Color Television and in 1994 VCP was added to
the range. In 1995, washing machine was introduced to the consumer for test marketing. With
the success of this, the management decided to set up the Washing Machine Assembly Factory
at Dhaka, which started production from February 1996. With Washing Machine in the Singer
Electronics Complex at Jhamur, Savar, Dhaka, Singer also assembles Color Television
Black & White Television and Motor Cycle – the assembly unit of which was established in 2001
and went into commercial production from 13 February 2002.

2.2. Mission, Vision, Value Statement & Management Philosophy
Mission
Singer’s delegation is to improve the quality of life of people by providing comforts, and
conveniences at an affordable price.
Vision
Singer wants to be the most admired and respected family company in the country.
Value Statement
Singer will continue to treat their employees with respect, in recognition of their contributions,
as they are the assets of the company. Singer will ensure that high standards and quality are
maintained in everything they do. Singer will continue to honor and maintain high ethical
standards.
Management Philosophy
Singer’s management philosophy is to work for the betterment of society.
2.3. Board of Directors

Chairman and Managing Director
Mahbub Jamil
Directors Corporate Office

Stephen H. Goodman 5B, Road No.126
Jim Kelly Gulshan-1, Dhaka-1212
Akhtar Imam
C.K. Hyder Singer Electronics Complex
Tobias Brown Jhamur,Savar
A. M. Hamim Rahmtullah Dhaka-1340,Banglades
Company Secretary Mohd.

Sanaullah
Auditors
S.F. Ahmed & Co.
Chartered Accountants
Bankers
Dhaka Bank Ltd.
Eastern Bank Ltd.
Legal Advisor
A. Imam and Associates
Barristers and Advocates
Registered Office
39 Dilkusha Commercial Area
Dhaka-1000, Bangladesh
2.4. Product of Singer Bangladesh Ltd.

SINGER
SINGER SINGER
TELEVISION
SEWING MACHINE REFRIGERATOR
(Color, black & white)
SINGER
SINGER SINGER
AUDIO SYSTEM
WASHING MACHINE AIR CONDITIONER
(Radio, player,
recorder)
SINGER SINGER SINGER
FAN OVEN IRON
SINGER SINGER SINGER
BLENDER MOTORCYCLE IPS
SINGER
SINGER
Singer Instant Power
Dish Washer Supply
Vacuum Cleaner

Compensation & Benefits Management
Analysis
3.1. Compensation
Employees need to be compensated for Their Efforts based on volume of predication.

Compensation refers to all forms of financial rewards received by employees. It arises from their
employment. It occupies an important place in the life of the employee. It is a considerable cost
to the employer. Compensation dissatisfaction can lead to absenteeism, turnover, job
dissatisfaction, low performance, strikes and grievances. Majority of labor management disputes
relate to compensation.
‘’Compensation refers to the extrinsic that employees receive in exchange for their work. It is
composed of the base wage or salary and incentives or bonuses and benefit.’’
Compensation is a key factor in attracting and keeping the best employees and ensuring that the
organization has the competitive edge in an increasingly competitive world. The Compensation
Management component enables to differentiate between the remuneration strategies and those
of competitors while still allowing flexibility, control and cost effectiveness. It provides a toolset
for strategic remuneration planning that reflects the organization culture and pay strategies, and
it empowers line managers within a framework of flexible budget control. Compensation
management allow to control bottom – line expenditures and competitive and motivating
remuneration , be it fixed pay, variable pay, stock options, merit increases, or promotion- in other
words, total compensation.

3.2. Types of Compensation
Compensation
Direct Indirect
Pay Incentives Benefits Services
Base Pay Merit Pay
Figure: Types of Compensation
Direct Compensation is remuneration provided to employ in exchange for their labor and
services. What makes it direct is that it is given to the employee without an intermediary.
Under direct compensation.
• Pay: It consists of wages and salaries received for performance work. It can be base pay
and merit pay based on job performance.
• Incentives: They are provided for the employee’s benefit, but is not given directly to the
employee. Under indirect compensation there are two performing work. It con be piece
wage, commission, bonus, profit sharing, stock option etc.
Indirect compensations are provided for the employees benefit but is not given directly to the
employee. Under direct compensation there are two types of compensation:
• Benefits are the payments addition to pay. They can be
1. Pay for time not worked: paid vacation, holidays, leaves

2. Protection Programs: Pension, Gratuity, Insurance etc 3. Executives Benefit: Free
Newspapers, telephone etc
Service and Perquisites: They increase employees wellbeing at on cost or
significantly reduced cost to employees. They can be
1. Housing, transport, food
2. Loans Children’s, education expenses
3. Discount on purchases, credit cards
4. Social-culture recreational activities; club subscriptions.
3.3. Compensation as component of Human Recourses Management

Compensation management consists of designing the lowest cost pay structure that will attract,
retain, and motivate the competent employees and which is perceived as fair by the employee
satisfaction.
3.3.1. Objectives of compensation management
The following are the objectives of compensation management:
1. An ideal compensation system will have positive impact on the efficiency and results
produced by employees. It will encourage the employees to perform better and achieve
the standards fixed.
2. It will raise the morale, efficiency and cooperation among the workers. It being just and
fair will provide satisfaction to the workers.
3. Sound compensation/ Rewards system bring peace in the relationship of employer and
employees, collective bargaining generally focus on compensation issues
4. The perfect compensation system provides platform for happy and satisfied workforce.
This minimizes the labor turnover. The organization enjoys the stability.
5. The business organization can think of compensation and growth if it has the support of
skillful, talented and happy workforce.
6. The sound compensation system is hallmarks of organization success and prosperity.

7. The success and stability of the organization is measured with pay-package it provides
to its employees.
3.4. Job Evaluation
Job evaluation is one of essence of compensation administration and the establishment of pay
structure. Job evaluation uses the information collected through ob analysis and systematically
determines the value of each job in relation to all jobs within the organization. Job evaluation
seeks to rank all the jobs in the organization and place them in a hierarchy that will reflect the
relative worth of each and determines the organization’s pay structure.
3.5. Job Evaluation Method
Job Evaluation
Analytical Non Analytical
Point Factor Ranking Classification

Comparison
Figure: Job Evaluation Method
3.6. Establishing pay structure
Once the job evaluation is completed, its data become the nucleus for the development of the
organization’s pay structure. This mean establishing pay rates or ranges that are compatible with
the ranks, classifications or points arrived at through job evaluation. The pay structure can be
determined through following process:

3.6.1. Wage survey
Wage survey is the systematic gathering of factual information on pay practices from comparable
firms within or outside the industry. The gathered information gives an idea of the standard
market practices which are used to set the actual wage level. The data can be generated or the
organization can collect the data through secondary source such as publications, research firms
or organization can generate the data through primary source such as conduction their.
3.6.2. Wage curves
3.6.3. Wage Structure
3.7. Incentive Compensation Plan
In addition to the basic wage structure, organizations that are sincerely committed to developing
a compensation system that is designed around performance will want to consider the use of
incentive pay. Incentive can be paid based on individual, group or organization wide
performance.
3.7.1. Individual Incentives
Individual incentives plan pay off for individual performance. Popular approaches include
piecework plans, time-saving bonuses and commission.
Under straight piecework plan, the employee is typically guaranteed a minimum hourly rate for
meeting some pre established standard output. For output over this standard, the employee earns
so much for each piece produced.
Individual incentives can be based on time saved as well as output generated. As with piecework,
the employee can expect a minimal guaranteed hourly rate, but in this case the bonus is achieved
for doing a standard hour’s work in less than sixty minutes. Employees who an hour’s work in
fifty minutes can do obtain a bonus that is some percentage of the labor saved.

Sales personnel frequently work on commission basis. In addition to low wage rate, they get an
amount that represents a percentage of the sales price.
3.7.2. Group Incentives
Each of individual incentive can also be used on a group basis. That is two or more employees
can be paid for their combined performance. One problem with group incentives is that
employees do not see them as being directly linked to their own behavior. The pay of the
employee under group incentives is influenced by the behavior of others with whom that
employee works.
3.7.3. Organization wide incentives
The goal of organization wide incentive is to direct the efforts of all employees toward achieving
overall organizational effectiveness. This type of incentive produces rewards for all employees
based on organizational wide cost reduction or profit sharing.
3.8. Executive compensation
Executive compensation is significantly higher than the benefits given to the middle level
managers and operational staff. This is how executive of business corporations are paid which
includes basic salary, bonuses, shares, options and other company benefits. There are three
components of executive compensation they are explained below:
3.8.1. Executive Salary

Top managers are expected to demonstrate good decision making abilities. Eventually the supply
of qualified senior executives is scare, and organizations have bid up the price for this talent.
They too must keep their salaries in line with the competition or potentially lose an executive to
another organization. High salary also acts to motivate both top executives and lower level
managers. High pay encourages top level managers to perform well in order to keep their jobs.
But high pay also acts to stimulate lower level managers to work hard so that they can someday
move up the ladder to the “big money”.

3.8.2. Supplement Financial Compensation
Financial incentives like bonuses or stock option plans are the exception among rank and file
workers, but it is the rare senile business executive whose compensation does not include such
incentives. The executive is bonus is computed on the basis of some formula, usually taking into
account increases in sales and profits. This bonus although earned in the current period is
distributed over several future periods. The major purpose of such deferred compensation is to
increase the cost to the executive of leaving the organization. Similarly stock options have been
a common incentive offered to executives. They generally allow executives to purchase, at
sometime in the future, a specific amount of the company’s profitability and, therefore the price
of the stock; Stock options are viewed as performance based incentives.
3.8.3. Supplement Non – Financial Compensation
Executives are frequently offered benefits of perquisites not offered to other employees. These
benefits includes such as medical insurance, life insurance, interest free loan, club membership,
vehicles/fuels, quarters, supplemental retirement accounts etc.

Compensation Management Practice at
Singer Bangladesh Ltd.
4.1. Performance Based Evaluation Measure:
Singer always tries to give the better service to their customers. As for this they tries to find out
the best employees compare with their rival companies. The HRD of singer not only provide
training to the employees but also goes for measurement of the performance before and after
training. HRD goes for two types of methods:
a) Post-training performance method b) Pre-post training performance method
According to the post-training performance method HRD evaluate the training programs based
on how well employees can perform their job in the position Singer provides to after training.
Under pre-post training performance method HRD of Singer evaluate the training programs
based on the difference in performance before and after training.

4.1.1. Critical Compensation decision:
While compensate the employees, HRD of Singer Bangladesh make some critical decision.
HRD tries to find out the four policies that match with the employee’s current performance based
on the decision they have made before.
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. But Singer also ensures that the performance of the
employee should maintain the consistency of performing well and up to the standard. It means,
the person who will be compensated, have to maintain and each time increase the standard of
performance level Singer wants from its employees in order to meet the company needs.
Contribution:
HRD recommend those employees who are fully contributed for the company. Anyone who
works only for to work is not countable at all for the compensation.
Competitiveness:
Employees who have the mentality to reach the competitive advantage levels with the company
automatically are going to be selected by the HRD of Singer. It means employee who has the
ability to accept and adapt the change and also has the ability to compete effectively and
efficiently with competitors are always motivated by giving proper compensation.
Administration:
Employees who follows the rules and regulations of Singer Bangladesh gets the additional
support BY the HRD of Singer, when compensate the employees.
4.2. Compensation Systems
It is a big issue to compensate the employees because each and every employee has some extra
capabilities which make him/her different from the other employees as well as reducing the
lacking that make him/her away from the race of reward system.
For making a fair compensation system, HRD of Singer follows some factors of the employees.
Those are:

1) Mental efforts____ intelligence, memory, verbal expression, specialized
Knowledge, communications.
2) Physical efforts___ height, weight, strength, working hours
3) Skills ___________ experience, training, education, ability to perform the

given task
4) Responsibilities____ how much the employee responsible to perform the

job, how willful he/she is?
All this above factors are considered while the HRD are going to compensate any employees.
His past (if has) and present records of the works are evaluated for making a fair compensation
packages.
4.3. Types of Compensation provided by Singer Bangladesh Ltd
HRD of Singer Bangladesh provides both direct and indirect compensation to their employees.
HRD tries to match with the environment of the current situation and the needs of the employees.
Cluster with all that HRD gets the decision whether they give direct or indirect compensation
benefit.
4.3.1. Direct compensation

Direct compensation that Singer usually provide to their employees consist of:
Merit pay
Spouses Income Continuation

Direct Compensation Benefits
Gain sharing
Profit sharing

a) Merit pay: If some times any employee did any unexpected work which can not be
possible for other employees and to did that should have some additional knowledge on
that cases HRD of Singer give direct financial support to that employee to motivate both
that employees and all others of the company.
b) Spouse income continuation: If any uncertainties arise that a employee of Singer can
not able to work due to his disable situation most of the cases Singer tries to stand beside
the family of that employee.
c) Gain sharing: When a group of people did any thing extremely well and make a huge
financial profit some times Singer gives some percentage from that profit equally to each
and every members of the group. By doing this employees are being motivated to work
as a team to gain the competitive advantage.
d) Profit sharing: Basically it is not happen regularly and if it so than only the percentage
of the profit is distributed to the top level management Officers.
4.3.2. Indirect Compensation benefits:
Singer not only gives the direct compensation but also compensate their employees indirectly.
Company gives so many facilities for the employees to become a friendly relation with the
management and the employees.
Indirect compensation consists of:
 Protection programs
 Services and prerequisites
 Others (Vacation, Holiday, Sick leave)

Protection programs: HRD of Singer provides protection programs like Medical Insurance,
Life Insurance, Social Security etc.
Services and prerequisites: Services that Singer gives to the employees are recreational
facilities, car facilities according to the designation etc.
Others: Employees of Singer enjoy holiday facilities, sick leave, vacation etc.
Rewards System
Singer is very much concern about the reward system of the employees. Because all the time
Singer believes that no more Singer in the world would exist if each and every single employee
are not satisfied while doing their job in the company. Singer always try to give some rewards
which will cheer up the employees and makes them more attract on their own field. Basically
singer gives two types of rewards towards the employees.
1) Intrinsic reward 2) Extrinsic reward

Under intrinsic reward employees are not allowed to enjoy financial benefits from the company.
For top level or upper mid level employees can go for a) decision making
( while unexpected situation arises) b) personal development by getting training without any
expense c) job freedom.
Under extrinsic reward employees get financial rewards. But some times they have the chance
to get some additional benefits by the company. In a diagram extrinsic rewards are given below

Extrinsic Reward
Financial Non-Financial
Support Support
Preferred office furniture

Assigned parking space
Business cards
Analysis & Interpretation of data
1. Human resource management department is very active in this organization.

Description Respondents Percentage
Strongly agree 7 35%

Agree 6 30%
Not sure 2 10%
Disagree 3 15%
Strongly disagree 2 10%
Total 20 100%
Table: 1
8
7
6
5
4
Series1
3
2
1
0
Strongly Agree Not sure Disagree Strongly
agree disagree
Graph: 1
Explanation: The above table and graph represents that 65% employees are agree with that the
HR department of this organization is active, 10% employees have no comments about it and
remaining 25% employees are not satisfied with the activity of HR.
The HR department of Singer Bangladesh Ltd. is active but still it needs to make some
improvement in HR activities.
2. The top management communication system with the subordinates is not satisfactory.


Agree 4 20%
Not sure 4 20%
Disagree 4 20%
Total 20 100%
Table: 2
3
Series1
2
0
agree disagree
Graph: 2
Explanation: 45% of the total respondents are not satisfied with the communication system of
Singer, 35% are satisfied and 20% have no comments about it. These data represent has the
Singer has a communication gap between the managers and employees.
The communication system at singer is not effective.

3. The Management allows you to make decisions.

Agree 5 25%
Not sure 2 10%
Disagree 3 15%
Total 20 100%
3 S eries1
2
0
agree disagree
Explanation: 55% of the total respondents said that they are allowed by the management to
make decision, 10% are not sure and remaining 35% are not involved in making decisions.

4. Singer has a strong job evaluation system.

Agree 8 40%
Not sure 1 5%
Disagree 6 30%
Total 20 100%
Strongly
Strongly agree 20%
disagree
30 % Strongly agree
Agree
Not sure
Disagree
Strongly disagree
Agree
Disagree 25 %
25%
Not sure
0%

Explanation: Among the total respondents 55% respondents are not satisfied and 45%
respondents are satisfied with the job evaluation system of singer. It represents the job
evaluation system of Singer Bangladesh Ltd. is not strong.
5. Result of job evaluation has a great impact on job progress or job retention.

Agree 8 40%
Not sure 3 15%
Disagree 5 25%
Total 20 100%

9
8
7
6
5
4 S eries1
3
2
1
0
agree disagree
Explanation: Among 20 respondents 50% respondents states that the job evaluation has a
great impact on job progress, 15% respondents does not make any comments and 35%
respondents are not agree with that job evaluation has a great impact on job progress. So it can
be say that the job evaluation system at Singer Bangladesh Ltd should be improve.
6. The current compensation system of singer is satisfactory.

Agree 3 15%
Not sure 1 5%
Disagree 6 30%
Total 20 100%

7
3 S eries1
2
0
agree disagree
Explanation: 40% respondents are satisfied, 55% respondents are not satisfied and 5%
respondents do not make any comments about the Compensation system of Singer.
So, the Compensation system of Singer is not satisfactory.
7. Employees have a positive reaction about the compensation system of Singer.

Agree 2 10%
Not sure 3 15%
Disagree 7 35%

Total 20 100%
8
7
6
5
4
Series1
3
2
1
0
agree disagree
Explanation: 30% respondents believe that the Employees have a positive reaction about the
compensation system of Singer, 55% respondents believe that employees have a negative
reaction about the compensation system of Singer and 15% respondents do not make any
comments.
The above data represent that the employees of singer are not satisfied with the existing
compensation system.
9. The compensation objective of Singer is to motivate the employees?

Agree 3 15%
Not sure 8 40%
Disagree 4 20%
Total 20 100%
9
8
7
6
5
4 Series1
3
2
1
0
agree disagree
Explanation: Among the total respondents 30% are agree with the above statement, 30% are
disagree and strongly disagree and 40% are do not know about it.
10. The Singer should change and add something new in its compensation system.


Agree 7 35%
Not sure 2 10%
Disagree 1 5%
Total 20 100%
12
10
6
S eries1
4
0
agree disagree
Explanation: Among the total number of respondents 85% think that the singer should change
the compensation system. Only 5% respondents think that it should not be changed and 10% do
no make any comments about it.

11. The Singer Bangladesh Ltd. Offer salary increment depending on the inflation rate.
12. The compensation system of this company is sufficient to keep you from looking From
another job
13. Is there any opportunity to move to higher salaried position at this company?
14. The leave policy of this organization is satisfactory?
15. Singer has a good environment to work.
16. Any Other Comments:


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Employee Compensation &

Benefits Management-A Study on Singer

Employee Compensation &Benefits Management:

Abdul Kader Nazmul

Mohammad Azizul Haque – Id: 10-94267-3

Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd. 1

Faculty of business Administration

Date of Submission: 4th December,2011

Abdul Kader Nazmul

Subject: Submission of report on “Employee Compensation & Benefits Management-A Study

Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd. 2

1.1. Background of the Study

Employee Compensation and Benefits Management: A Study on Singer Bangladesh Ltd. 3

2.0. Company Profile

2.1. History of Singer

3.0. Compensation & Benefits Management Analysis

4.0. Compensation Management Practice at Singer Bangladesh Ltd.

4.1. Performance Based Evaluation measure

5.0. Analysis & Interpretation of data

6.0. Problems & Recommendation

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1.1. Background of the Study

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1.2. Rational of the Study

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1.3. Objective of the Study

To know about the Employee compensation & Benefit management system.

3. To identify the problem of compensation & Benefit management system of Singer

1.4. Methodology of the Study

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2.1. History of Singer

Singer is a well-established multinational firm with intense local recognition in consumer

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Singer’s management philosophy is to work for the betterment of society.

2.3. Board of Directors

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Directors Corporate Office

Company Secretary Mohd.

2.4. Product of Singer Bangladesh Ltd.

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FAN OVEN IRON

SINGER SINGER SINGER

BLENDER MOTORCYCLE IPS

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Employees need to be compensated for Their Efforts based on volume of predication.

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Pay Incentives Benefits Services

Base Pay Merit Pay

Figure: Types of Compensation

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3.3. Compensation as component of Human Recourses Management

3.3.1. Objectives of compensation management

The following are the objectives of compensation management:

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3.4. Job Evaluation

3.5. Job Evaluation Method

Analytical Non Analytical

Point Factor Ranking Classification

Figure: Job Evaluation Method

3.6. Establishing pay structure

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