Compensation Management (Bbcm4103)

Topics: Human resource management, Wage, Imperial Chemical Industries Pages: 8 (2288 words) Published: December 10, 2012
______________________________________________________________________________ COMPENSATION MANAGEMENT (BBCM4103)

Tugasan Individu

No. Pelajar : G13747001
No KP: G/13747
No. Tel: 0197525333


Azko Nobel3
AkzoNobel Values
Akzo Nobel Vision4
Interviewer details 5
Components of compensation
Basic wages/Salaries6
Dearness allowance7
Non-monetary benefits
Mixed plans8
Fringe benefits
Approaches of compensation management

Azko Nobel
Akzo Nobel has a long history of mergers and divestments. Parts of the current company can be traced back to 17th century companies. The milestone mergers and divestments are the formation of AKZO in 1969, the merger with Nobel Industries in 1994 forming Akzo Nobel, and the divestment of its pharmaceutical business and the merger with ICI in 2007/2008 resulting in current day AkzoNobel. AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. They supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for their customers. Their portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, and Global Fortune 500 company and are consistently ranked as one of the leaders on the Dow Jones Sustainability Indexes . With operations in more than 80 countries, 55,000 people around the world are committed to excellence and delivering Tomorrow’s Answers Today, this is their moto. AkzoNobel Values

At Eka Chemicals we live by company values that provide the foundation of how we behave in the various activities we conduct each year to deliver sustainable business results.  * Focusing on our customers’ future first

* Embracing entrepreneurial thinking
* Developing the talents of our people
* The courage and curiosity to question
* Integrity and responsibility in our actions
* Be the preferred supplier of pulp and paper chemicals globally * Develop related businesses that support and contribute to our overall performance * Grow through innovation and unique know-how

Interviewer details
Name: Jasni B. Johari
Position: Region Manager
Interview Date: 01/03/2011 @ 1330hrs
Venue: Akzo Nobel Industrial Coatings Sdn Bhd, Lot 1&2, Jalan Gangsa , 81700 Pasir Gudang Johor, Malaysia
Components of compensation
Basic wages/Salaries
These refer to the cash component of the wage structure based on which other elements of compensation may be structured. It is a fixed amount which is subject to changes based on annual increments or subject to periodical pay hikes. Wages represent hourly rates of pay, and salary refers to the monthly rate of pay, irrespective of the number of hours put in by the employee. Wages and salaries are subject to the annual increments. They differ from employee to employee, and depend upon the nature of job, seniority, and merit. Dearness allowance

The payment of dearness allowance facilitates employees and workers to face the price increase or inflation of prices of goods and services consumed by him. The onslaught of price increase has a major bearing on the living conditions of the labour. The increasing prices reduce the compensation to nothing and the money’s worth is coming down based on the level of inflation. The payment of dearness allowance, which may be a fixed percentage on the basic wage, enables the employees to face the increasing prices. Incentives...
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