Compensation Management Practices and Policies Presentation
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This presentation summarizes the compensation management practices and policies of Mutual Trust Bank in Bangladesh. It discusses that compensation includes both financial and non-financial benefits provided to employees in exchange for their work. The presentation then outlines Mutual Trust Bank's compensation package, including salary, bonuses, provident funds, annual increments, allowances, loans, medical facilities and leave policies. It concludes that Mutual Trust Bank ensures a fair compensation policy which leads to high employee satisfaction and low turnover.
Compensation Management Practices and Policies Presentation
- 1. Presentation On CompensationManagement Practices and Policies of Mutual TrustBank Presented By FAKRUL HASSAN ABU BOKER A.M. AHSANUR RAHMAN TONMOY ISTIAK AHMAD BIMOL CHANDRA SARKER ID # 2018010005080 ID # 2018010005042 ID # 2018010005039 ID # 2018010005079 ID # 2018010005047 By - Fakrul Hassan
- 2. Compensation Management Practices & Policies This presentation is prepared on the basis of our few days analysis on Mutual trust bank. Mutual trust bank is one of the leading local banks in our country. The bank has many divisions and departments but the focus is given more on the HRD. Moreover, from the all bank MTB is renowned to good HR practices. By - Fakrul Hassan
- 3. Objectives of the Study To identify the Compensation Management Practices and policies of Mutual Trust Bank Limited. By - Fakrul Hassan
- 4. Compensation Compensation is the total cash and non-cash payments that you give to an employee in exchange for the work they do for your business. It is typically one of the biggest expenses for businesses with employees. Compensation is more than an employee’s regular paid wages. It also includes many other types of wages and benefits. By - Fakrul Hassan
- 5. Types Of Compensation Base pay (hourly or salary wages) Sales commission (based on volume or some form of performance) Overtime wages (additional pay rate paid for working more than a specific number of hours) Tip income (extra income beside of his wages) Bonus pay (when a company meets certain financial standards or goals over an extended period of time) Recognition or merit pay (rewards higher performing employees with additional pay) Benefits (insurances, standard vacation policy, retirement) Stock options (share ownership with the employees) Other non-cash benefits (employee health, death, or other welfare benefits.) By - Fakrul Hassan
- 6. Compensation Management Compensation management is the practice of the organization that involves giving monetary as well as non-monetary rewards to the employees, in order to compensate for the time they allocate to their job. By - Fakrul Hassan
- 7. MTB Organization Hierarchy By - Fakrul Hassan
- 8. Compensation Management Practices of Mutual Trust Bank Compensation is the most important part in any organization as it is one of the key factors of motivation for all employees now-a-days. We can see two types of compensation system. One is financial and another one is non-financial. MTB goal of compensation is to focus on the certain activity or works done by the employees upon which the compensation is maintain or scaled such as it has maintained a combination of cash, benefits, retirement, perquisites as a total compensation package. By - Fakrul Hassan
- 9. There are several compensation policies taken by MTB. Salary Bonus Provident Fund & Gratuity Annual Increment Travel Allowance House Rent Allowance Employee Loan Medical Facilities Welfare Funds Earn Leave Disability Leave Maternity Leave Study leaveBy - Fakrul Hassan
- 10. Compensation Management Policy Of Mutual Trust Bank Compensation is important such a way that without a fair policy in this sector, it is not possible to make the employee participate in their work effectively. Mutual trust bank undertake different lucrative policies regarding the compensation of their employees so that they can manipulate employees to have a productive outcome. By - Fakrul Hassan
- 11. Conclusion MTB ensures a fair compensation policy for which the satisfaction level of employee is so high. Due to this high job satisfaction of the employee regarding the compensation, the overall employee turnover is quite negligible in MTB By - Fakrul Hassan
- 12. Thank You! By - Fakrul Hassan