synopsis coca cola

8/10/2019 Synopsis Coca Cola

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TITLE OF THE PROJECT

MANAGING COMPENSATION

IN

COCA COLA LTD.


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INTRODUCTION

Services rendered by individuals to organizations have to be adequately paid for. This compensation

generally comprises cash payments, which in addition to wages includes pensions, bonous for good work,

and shared profits. Compensation can also be in the form of promotion or words of praise. Workers also

drive a certain amount of personal satisfaction as compensation for a job well done. It is difficult to

outline and explain every aspect of payment of compensation.- beside wages there are certain amount of

job compensation which an employee look for such as job satisfaction, job content, responsibility,

creativity and so on.

Compensation building blocks

Effective Compensation views total compensation as a strategic collection of a number of programs

developed to accomplish specific organizational objectives. The programs can be classified into the

following categories:

Base Salary - the fixed amount to be paid (often for performance) according to a system of job

classification or market based criteria.

Incentives -additional variable pay based on performance against objectives and payable in cash, stock

or tax-deferrable arrangements.

Protectives-programs which insure employees against loss of life or earning ability, and which insure

against major current expenses.

Life insurance

Medical insurance

Survivor's income

Dental insurance

Disability income

Capital Accumulation -programs, usually stock plans, that provide the opportunity to establish a

personal estate under attractive conditions. Phantom equity arrangements and long-term incentives can


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also be included under this category. Such programs should serve the owners by aligning management's

interests with that of the shareholders.

Retirement Income -plans that defer income for services rendered to a later payment date (qualified

plans such as pensions, profit sharing, and thrift plans as well as supplemental programs and employmentcontracts).

Perquisites - company paid allowances beyond direct pay (free parking, automobile and operating

expense, expense allowance, total medical reimbursement, club memberships, etc.).

Paid Time off-vacations, holidays, family leave, jury duty, etc. . . .

In addition, the way compensation is allocated to and communicated to employees affects the

effectiveness of the programs.


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OBJECTIVE OF THE STUDY

The main aim of the research is to:-

(1). A detailed study about compensation management

(2). Survey about compensation management in Coca Cola.

(3). the contribution of compensation management to attract, retain and motivate the employee of

Coca Cola.

Compensation management is the process wherein the management finds out how effective it has been for

the employees.

This study shall give some suggestions for making the present training and development system

more effective.

It shall give organization the direction, how to deal differently with different


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RESEARCH METHODOLOGY

A Research Methodology defines the purpose of the research, how it proceeds, how to

measure progress and what constitute success with respect to the objectives determined

for carrying out the research study.

The appropriate research design formulated is detailed below

MODE OF DATA COLLECTION

Broadly there are two methods of data collection:-

Primary data collection method

Secondary data collection method

Primary data collection method: - Primary source of data implies collection of data from its

source of origin. It offers you first-hand quantitative information relating to your statistical study.

I have collected primary data through:-

Questionnaires

Interaction with the respondents

Secondary data collection method: - secondary source of data implies collection of data

from some agency or institution which already happens to have collected the data through statistical

survey(s). It does not offer you first-hand information relating to your statistical study. You are to rely on

the information which already exists.

I have collected secondary data from:-

Internet

Books

Magazines


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QUESTIONNAIRE

1. Since when are you working in this company?

1. 14years

2.

10years

3.

10years and above

2. Is this your first job?

1. Yes

2. No

3. What made you join this organization?

1. Compensation

2. Career growth

3. Work culture

4.

Was first job

5.

Fight with previous employee

6.

Organization brand image

4. Did the employer give clarity in your roles and responsibility to your satisfaction level?

1. Yes

2. No

5. What benefits (in extra to your salary) do you get from the company?

1. Medical allowance

2. Conveyance

3. Dearness allowance


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4. Bonus

5. Leave travel allowance

6. Incentive

7.

Fringe benefits

6. Is your basic salary in line with the minimum wage regulation of India?

1.

Yes

2. No

3. Dont know

7. Does your company provide you monetary benefits for some extraordinary achievements?

1. Yes

2. No

3. Dont know

8. In the order of preference PLS arrange the following w.r.t.motivating factors for you. (1

being least important, 5 being most important)

1. Work culture

2. Compensation benefits

3. Career growth

4. Brand image of the organization

5. Job satisfaction


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9. How would you rate the following of Coca Cola in line with the trend in the market?

Salary

1. Best

2.

Average

3.

Below Aver\

Incentive

1. Best

2. Average

3.

Below Average

4. Very Poor

Conveyance

1. Best

2.

Average

3.

Below Average

4.

Very Poor

Bonus

1. Best

2. Average

3. Below Average

4. Very Poor


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Work Environment

1. Best

2. Average

3.

Below Average

4.

Very Poor

Internal Parity in Salary

1. Best

2. Average

3.

Below Average

4. Very Poor

Recognition

1. Best

2.

Average

3.

Below Average

4.

Very Poor

Rewards

1. Best

2. Average

3. Below Average

4. Very Poor


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BIBLIOGRAPHY

Books:

V S P Rao, Excel books, A-45 Naraina Phase-1, New Delhi-110028

Compensation and Rewards system, Uday Parikh, 2009, Crystal Publication

Motivational Theories, David Shaun, 2009, Thomson Publication

Website:

www.cocacloa.com

www.google.com

www.yahoosearch.com
http://www.larsentoubro.com/http://www.google.com/http://www.yahoosearch.com/http://www.yahoosearch.com/http://www.google.com/http://www.larsentoubro.com/

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