Term Paper On Compensation Theory and Practice
(A study Based on UCBL)
Course code: MGT-321 Course Title: Human Resource Management
Submitted to Tanzila Ahmed Course Instructor
Submitted by Group Name: INNOVATORS
Name ID Md. Ahadujjaman 1001010131
Faglul Karim Raihan 1001010142
Abdul Aziz 1001010127
Ashfaqur Rahman 1001010141
Gulam Sarwar 1001010060
Sec-C, 24th batch Department of Business Administration
Leading University, Sylhet
Date of Submission: August 26, 2011
LETTER OF SUBMISSION
August 26, 2012 Tanzila Ahmed
Lecturer of HRM
Department of Business Administration Leading University, Sylhet, Bangladesh
Subject: Letter of Submission.
Dear Sir, It is an enormous pleasure to submit our tern paper titled “Compensation Theory and Practice” assigned as a requirement of our course related.
In preparing this assignment we have acquired much knowledge about compensation. We have tried our best to furnish the assignment with relevant data, which we had to collect from online and related journal. We hope this assignment will help the organization sector to gather some insights on the windows to do further studies in this aspect.
We would like to convey our tributes to you and thank you for giving us the opportunity to work on this topic. Your queries in this aspect will highly be expected.
Thank you Sincerely yours
Faglul Karim Raihan ID: 1001010142
Md.Ahadujjaman ID: 1001010131
Abdul Aziz ID: 1001010127
Ashfaqur Rahman ID: 1001010142
Gulam Sarwar ID: 1001010060
Compensation Theory and Practice
Table of Contents
CHAPTER NAME PAGE NO.
EXECUTIVE SUMMARY INTRODUCTION
1.1 Statement of the problem
1.2 Definition of Compensation
1.3 Types of Compensation
1.4 Components of Compensation System
1.5 Objectives of Study
1.6 Scope of the Study
THEORY AND COMPANY OVERVIEW
2.1 Theory behind Compensation
2.1.1 Reinforcement and Expectancy Theories
2.1.2 Equity Theory
2.1.3 Agency Theory
2.2 Major Components of compensation
2.3 Overview of United Commercial Bank Ltd.
2.3.1 Background of United Commercial Bank Ltd (UCBL)
2.3.2 Mission & Vision 2.3.3 Corporate Information of UCB at A Glance 2.3.4 Management
2.3.5 Senior Management
2.3.6 Products & Services of UCB
2.3.7 Branches & ATM Booth of UCB
3.1 Total Compensation and Benefits Package of UCBL
3.1.1 Objectives 3.1.2 Salary Structure 3.1.3 Revision of Pay Elements 3.1.4 Employee Compensation Records 3.2 Basic Employee Benefits for Permanent Employees 3.2.1 Provident Fund 3.2.2 Bonuses 3.2.3 Accommodation 3.3 Utilities Allowances
3.4 Mobile Telephone
3.5 Medical Benefits
3.6 Car Purchase Scheme
3.7 Leave Entitlements
3.8 SWOT Analysis
THE ENDING OF THE TERM PAPER
4.1 Recommendation 4.2 Conclusion 4.3 References APPENDIX
A good compensation system is very much effective for an organization. It makes an opportunity for high involvement for the employee in an organization. Employees can compare themselves with others. It was a great opportunity for us to make a term paper on compensation. The titled of this term paper is “Compensation Theory and Practice”. We complete this term paper based on United Commercial Bank Ltd (UCBL).
UCB is one of the oldest private banks in Bangladesh. Sponsored by some dynamic and reputed entrepreneurs and eminent industrialists of the country and also participated by the Government. Being one of the first generation private sectors Bank in Bangladesh, it started its commercial operations from mid 1983. United Commercial Bank Limited incorporated on 26 June, 1983 as a public company with limited liability under the Companies Act 1993. The bank obtained permission to commence business with effect from 27 June, 1983. Finally started banking operations on 29 June 1983 with an authorized...