Designing Strategic Compensation system for Fri Chicks Restaurant
This project is about designing a strategic compensation system for Fri Chicks brand. Compensation is one of the major functions of HR. It is about rewarding the employees in return of their services, thus, helping in boosting the employees' loyalty along with increasing the motivation and eventually those employees work with their full potential. It is also helpful in recruitment of right employees. This project will help Fri Chicks to design their compensation system in such a way that the company will be able to reward the employees in a way that will be aligned with the organizational objectives, eventually letting employees to work with full spirit and determination. The project will be completed by first examining the existing compensation system of the company. Then, job description will be designed to serve as a basis for job evaluation. It will be done in order to define an equitable compensation. After that, compensation mix will be designed with the help of techniques like market pricing, knowledge based method, skill based method, performance based compensation and indirect benefits.
Keywords: Compensation system ,Strategic Compensation
Tools: Person based structure ,Job Specification and Job Description ,Commission System ,Compensation mix,Compensation Factors,Compensation Philosophy
Department: Department of Business Studies
Project Team Members
| Name |
Email |
|
Muhammad Adil Umair Shah
|
adil2018@namal.edu.pk |
Project Poster
