Non Monetary Benefits

Topics: Best practice, Data collection, Consumer electronics Pages: 3 (853 words) Published: September 23, 2010
Synopsis of the project
Title: Benchmarking of non monetary benefits at Haier vis-à-vis other consumer durable companies

Introduction :-
Purpose/objective of the project:
The purpose of the project is to do a benchmarking study so as to compare and contrast non-monetary benefits offered/provided by Haier as compared to to that provided by the industry. Target companies will include:Whirlpool,Samsung,Videocon,LG,Sony,Godrej,Voltas,Onida.(The list is for illustrative purposes and may vary from the final list depending on availability of data)

Benchmarking is the process of measuring an organization’s internal processes and then identifying,understanding and adapting outstanding practices from other organizations considered to be best in class. Types of benchmarks:

1.criterion reference approach: simply defines the attributes of a good practice in a functional area.the benchmark consists of simply the attributes constituting good practice. 2.quantitative benchmarks: inevitably distinguish the normative and competitive levels of achievement. These distinguish where practices are quantifiably different in other companies/industries.The differences will often signal good practices Quality of data:Each benchmark lists currently available data sources. Non monetary benefits:

They are the indirect compensation benefits which are provided to the employees in lieu of their services iprovided by them to the organization.they are the benefits that are not or cannot be measured directly in terms of monetary units. .The objective of the project is to get an overall picture of the compensatory benefits that the companies are providing to their employees specially the non monetary benefits , to know the satisfaction levels of the employees with them and also give some inputs or recommendations based on the gathered data and survey. Co Profile:

The Haier group was established in 1984 in Qingdao in china .the group has emerged as a top multinational manufacturing...
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