Payroll is the basic need for an employee but employees need more to satisfy them. For that reason employers have to take various kinds of remuneration techniques. Manufacturing companies are not beyond that. S. Nahar Garments, a sister concern of mohammadi Group, is one of them. Currently this group doing their business in garments sector only. They provide different types of incentives it their workers with wage. Incentives encourage employees to their duties and eliminate dissatisfaction. By incentives employees can be motivated and get the best output from them. It means producers can increase their production by giving remuneration to their employees. In this assignment we tried to find out about the wage-plan of this company. We have also come to know that Bangladesh Government has amended the labor law. So, every producer has followed that rules. Moreover we have some recommendation to improve incentives techniques for increase production and motivate workers.
Readymade garments sector is one of the most potential sectors of Bangladesh. 75 percent of the export revenue is earned from the readymade garments sector. S. Nahar garments is one of the active company in the garments sector to contribute in the earnings of foreign exchange.
The company is a sister concern of Mohammadi group. It is an ISO 9001:2002 certified organization. It was established in 1985. Mohammadi group is one of the renowned companies in Bangladesh. This group contributes a lot in the garments sector of Bangladesh. This group has several garments in different areas in Bangladesh. The head office of Mohammadi group is located at Motijheel in Dhaka. Its factories are scattered in different areas in Bangladesh. It has factory in Badda, Mirpur, Naraynganj, Savar, Kanchpur, Adamjee EPZ and other different areas. All readymade garments produced from these factories are exported to Europe and North American market. 60 percent of its products are exported to European market and rests of the 40 percent are exported to North American market.
Business Tycoon Md. Habibur Rahman is the owner of this group. Couple of years ago this group has real estate business also. But now real estate business has been separated from this group.
OBJECTIVES OF THIS REPORT
Every study has an objective. Our study is not separate from that. The general objective of this report is to identify the wage plan of a manufacturing company. We make this report on S. Nahar Garments (a manufacturing company) for preparing the incentive wage plan. Also such report gives the opportunity to prepare a real business report that will help us to makes report in future for companies.
SCOPES OF THE STUDY
This study was an opportunity for us to know about the wage plan and incentives in manufacturing company. We also gather knowledge about labor demands, and how to satisfy them. This kind of information helps us to know what incentives would be effective. All this knowledge will be helpful in our future career, when we will be a production manager or entrepreneur in manufacturing company. As we study before which incentives eliminate dissatisfaction and motivate labors. So, labors become more effective, dutiful, and sincere in their work by incentives.
We found that all manufacturing companies do not take same incentives plan. There are some limitations in S. NAHAR GARMENTS. These are as follows: There is no piece work plan facility.
They does not have 100 percent bonus plan.
There is no group bonus plan facility.
They do not have allowance for launch
RESEARCH OF METHODOLOGY
We directly visit their industry and take incentives from companies Public & Administration Manager and Deputy Technical Manager.
Bangladesh govt. amended the wage law few years ago. According to this law there is a minimum wage and every garments and factories must follow these rules.S. Nahar garments is not exceptional...