Project On Compensation Management And HR Practices

Regular Hours may include: Regular Earnings, Additional Hours, Retroactive Pay, Board Members Pay, Worker Compensation

Overtime Hours may include: Overtime .5, Call Back Pay – Overtime, Overtime Differential Pay, IT Critical Project Bonus OT Earns

Shift Differential may include: Various Pay Shift options, Call Back Premium, Various Pay Differential options, Standby Hours

Bonus Pay may include: Longevity Bonus, Suggestion Award, Quality Bonus Payment, Savings Incentive Program, IT Signing Bonus, IT Mission Critical Project Bonus

Holidays may include: Discretionary Day, Holiday Pay, Holiday Credit, Holiday Premium Pay
Vacation Leave Taken may include: Vacation Leave, Vacation Leave Payout, Worker Compensation Vacation Leave

Sick Leave Taken may include: Sick Leave, Worker Compensation Sick Leave

Other Leave Taken may include: Funeral Leave, Shared Leave, Disaster Leave, Administrative Leave, Comp Time Taken, Daylight Saving Time

Other Pay may include: Contractual Pay, Call Back Pay, Emergency Pay, Comp Time Payout

Benefits contributions may include: Medical Insurance Prescription Drug Insurance Dental Insurance Group Life Insurance Long-Term Disability Insurance Accidental Death Benefits

Tax contributions may include: Disability (Medicare) Worker Compensation Insurance, Unemployment Insurance

Retirement contributions may include: Severence Award, Voluntary or Involuntary Retirements Benefits such as VRS etc.

Employee benefits and (especially in British English) benefits in kind (also called fringe benefits, perquisites, perqs or perks) are various non-wage compensations provided to employees in addition to their normal wages or salaries. Where an employee exchanges (cash) wages for some other form of benefit, this is generally referred to as a 'salary sacrifice' arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree.

Fringe benefits can also include but are not limited to: (employer-provided or employer-paid) housing, group insurance (health, dental, life etc.), income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), social security, profit sharing, funding of education, and other specialized benefits

The purpose of the benefits is to increase the economic security of employees.

The term perqs or perks is often used colloquially to refer to those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well and/or have seniority. Common perks are company cars, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling They may also be given first chance at job promotions when vacancies exist.

Employee benefits in the United States might include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group-term life and long term care insurance plans; legal assistance plans; adoption assistance; child care benefits; and possibly other miscellaneous employee discounts (e.g., movies and theme park tickets, wellness programs, discounted shopping, hotels and resorts, and so on).

This will help you in preparing questionnaire to compare jobs in similar grades and positions with other companies. You can also take sample jobs list for comparision and jobs matching instead of job title matching which is misleading for marketing pricing of jobs. In India Job Title inflation is big issue and HR challenges people are offered designations lavishly because 2 years expereinced HR Manager & 20 Years Experienced HR Manager job weightage will be different.

Regards

Sawant