A
SYNOPSIS ON
“STUDY ON BEST HR PRACTICES AND COMPENSATION STRUCTURES”
UNDER SUPERVISION OF:
……………………………..
SUBMITTED BY
NAME :
ENROLLMENT NO :
Submitted in partial fulfillment of the requirements for qualifying
MASTER OF BUSINESS ADMINISTRATION (HR)
Institute of Management Technology
Ghaziabad
TABLE OF CONTENTS
CONTENTS PAGE NO.
1. Title of the project………………………………………………………..3
2. Statement about the Problem.……….……………………………………4
3. Objective of the study.……………………………………………….……5
4. Research Methodology …………………………………..……………….6
5. Company profile …………………………… ……………………………..8
6. Questionnaire……………………………………………………………..9
7. References ……………………………………….…………..………….12
8. Chapterisation ……………………………………………………….…..14
9. Profile of Project Guide………………………………………………….15
1. TITLE OF THE PROJECT
“STUDY ON BEST HR PRACTICES AND COMPENSATION STRUCTURES”
2. STATEMENT OF THE PROBLEM
In the present highly competitive world, the major challenges that most organizations are facing in the area of human resources include a high attrition rate, developing a cost effective compensation structure to make it employer and employee friendly. Attracting and retaining highly efficient employees and earning their commitment to achieve organizational goals have now become a formidable challenge. With the growth of economy and the organizations, the human capital needs are also changing. Today’s employees are more risk taking, more demanding, more diverse, more technically astute, and less likely than workers of a generation ago to believe that the employer has their best interests at heart. They want competitive compensation. They know what they’re worth and there are sure they will get it somewhere. They also expect meaningful and challenging work.
3. OBJECTIVES OF THE STUDY
Fixing the objective is like identifying the star. The objective decides where we want to go, what we want to achieve and what is our goal or destination.
Every study is carried out for the achievement of certain objectives.
1. To study the HR practices and compensation structure of IBM India.
2. To identify best HR policies to recommend suitable for the organization.
3. To review compensation structures being offered by IBM India.
4.RESEARCH METHODOLOGY
Research methodology in a way is a written game plan for conducting research. Research methodology has many dimensions. It includes not only the research methods but also considers the logic behind the methods used in the context of the study and complains why only a particular method of technique has been used.
METHODOLOGY ADOPTED:- This research is aimed at studying the Micro level review of best HR Practices and compensation structures of IBM.
RESEARCH DESIGN: – The research design used in this study was both ‘Descriptive’ and ‘exploratory’.
DATA COLLECTION METHODS:
The data will be collected using both by primary data collection methods as well as secondary sources.
PRIMARY DATA: Most of the information will be gathered through primary sources. The methods that will be used to collect primary data are:
a) Questionnaire
b) Interview
SECONDARY DATA
The secondary data was collected through:
• Text Books
• Magazines
• Journals
• Websites
SAMPLING TECHNIQUE:-
The technique used for conducting the study will Convenience Sampling Technique as sample of respondents was chosen according to convenience.
SAMPLING UNIT: This will then be presented to concern people at ABEO 50 admin employees from the organization will be contacted for the purpose of getting the required information. The information gathered analyzed and presented in this final report.
STASTICAL TOOLS:
MS-EXCEL will use to prepare pie- charts and graphs and MS-WORD will use to prepare or write the whole project report.
METHOD USE TO PRESENT DATA:
Data Analysis & Interpretation – Classification & tabulation transforms the raw data collected through questionnaire in to useful information by organizing and compiling the bits of data contained in each questionnaire i.e., observation and responses are converted in to understandable and orderly statistics are used to organize and analyze the data:
• Simple tabulation of data using tally marks.
• Calculating the percentage of the responses.
• Formula used = (name of responses / total responses) * 100
Graphical analysis by means of pie charts bar graphs etc.
NUMBER OF RESPONDENTS
50
AREA OF STUDY
Delhi & NCR
5. COMPANY PROFILE
The International Business Machines Corporation (IBM) is an American multinational technology and consulting corporation, with headquarters in Armonk, New York, United States. IBM manufactures and markets computer hardware and software, and offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
The company was founded in 1911 as the Computing Tabulating Recording Company (CTR) through a merger of three companies: the Tabulating Machine Company, the International Time Recording Company, and the Computing Scale Company. CTR adopted the name International Business Machines in 1924, using a name previously designated to CTR’s subsidiary in Canada and later South America. Securities analysts nicknamed IBM Big Blue in recognition of IBM’s common use of blue in products, packaging, and logo.
In 2012, Fortune ranked IBM the No. 2 largest U.S. firm in terms of number of employees (435,000 worldwide), the No. 4 largest in terms of market capitalization, the No. 9 most profitable, and the No. 19 largest firm in terms of revenue. Globally, the company was ranked the No. 31 largest in terms of revenue by Forbes for 2011, Other rankings for 2011/2012 include No. 1 company for leaders (Fortune), No. 1 green company worldwide (Newsweek), No. 2 best global brand (Interbrand), No. 2 most respected company (Barron’s), No. 5 most admired company (Fortune), and No. 18 most innovative company (Fast Company).
QUESTIONNAIRE
Dear Respondents,
I am ………………, a student of MBA, as a part of my curriculum; I am to take a research Project on “STUDY ON BEST HR PRACTICES AND COMPENSATION STRUCTURES”. To enable to undertake above mentioned study, I request you to give your fair views. Your insights and perspective are important and valuable for my research.
Policy on Confidentiality: Please feel free to give your honest responses. The confidentiality of the information provided by the respondent is completely assured.
PERSONAL DATA
Name of the Respondent:
Q1. Age:
a) 20 – 30
b) 31 – 40
c) 41 – 50
d) 51 And Above
Gender:
a) Male
b) Female
Department:
a) Administration
b) Finance
c) HRD
d) Customer Support
Q2. Years of Service in Present Organization:
a) Less Than One Year
b) One To Three Years
c) Four To Five Years
d) More Than Five Years
Q3. Do you think that in HR Practice increased in scope and responsibilities in the last three years?
Yes No
Q4. Do you think that HR Practice and Strategies is very beneficial for any orgnisation progress?
Yes No
Q5. Do you feel that the HR Practice and Strategies has reduced the time and effort in preparing the job description and job specification?
Strongly Agree
Agree
Neither Agree nor Disagree
Disagree
Strongly Disagree
Q6. The pre-selection stage, interviewing and other assessment activities done via HRIS process are effective.
Strongly Agree
Agree
Neither Agree nor Disagree
Disagree
Strongly Disagree
Q7. What are the main tools of handling the main Human resource challenges?
Training
Consultancy
Tools
Any other
Q8. Which of the following factors are most important for an effective HR practices?
Planned Management
Management of Talent and Competency
Re constructing the Human Resources
Mention the other relevant ones.
Q9. Do you think that the best HR practices help to control attrition rate in your organization?
Yes No
Q10.The pay structure has been clearly defined in the HR department.
Yes No
Q11. HR Practice and Strategies applies long term HR policies to improve Organizational performances.
Yes No
Q12. Do you feel that best HR practices and policies help to create effective compensation structure in the organization?
Yes No
7. REFERENCES
1. “A Handbook of Employee Reward Management and Practice” by Michael Armstrong
2. “Best Practices for managers: a guide on selection, hiring and compensation” by Stan Lomax
3. BNET articles and journals
4. Business World Magazine
5. Compensation by George T. Milkovich
6. Compensation & Benchmarking Study by Mercer Human Resource Consulting
7. Economic Times
8. Gallup-BusinessWorld Compensation & Benefits Report 2006
9. Grow Talent GPTW Study 2006 Report
10. Hewitt Best Employers in India 2007 Report
11. Hewitt Reports on Compensation
12. “The HR Professionals’ Best Practices Collection” by Aspatore Books Staff
13. “The Human Capital Edge” by Bruce N. Pfau and Ira T. Kay
14. Tyler, K. (2006). Retaining repatriates: pre-assignment planning, ongoing communication and mentoring help retain valuable repatriates. HR Magazine, March 2006: 97-102.
15. Sparrow, P., Schuler, R., & Jackson, S. (1994). Convergence or divergence: human resource practices and policies for competitive advantage worldwide. The International Journal of Human Resource Management, 5(2): 267-299.
16. Rosenzweig, P. & Nohria, N. (1994). Influences on human resource management practices in multinational corporations. Journal of International Business Studies, 25(2): 229-251.
17. 401 Proven Ways to Retain Your Best Employees by Gregory .P. Smith
18. Keeping Good People by Roger E. Herman
19. Ladika, S. (2005). Working together. HR Magazine, June 2005: 87-91.
8. CHAPTER SCHEME
Detailed/final project report will include the following chapters;
1. Introduction
2. Objective and scope of study
3. Methodology (Details of methodology used in studying and collecting the data and issue will be described)
4. Descriptive work (Descriptive work on the topic, this chapter will include analysis and interpretation of data tabulation and categorization)
5. Study report (Study report of other researcher will be observed and analyzed)
6. Findings and Recommendation
7. Conclusion and Limitations
8. Recommendation
9. Bibliography
9. PROFILE OF PROJECT GUIDE
Name :
Age :
Educational Qualification :
Professional Experience :
Organization :
Current Designation :
Brief Profile :
(Maximum 200 Characters)
Address :
House No. :
Street :
City :
State :
Country :
Phone Number (Office) :
Phone Number (Residence) :
Mobile Number (10 digits) :
Email :
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