Compensation Project
Compensation Project
Compensation Management
Project Report
SUBMITTED BY:
Rana Jahanzaib Ali (L1F19BBAM0012)
Nafees butt (L1F19BBAM0779)
Haziq Nawab (L1F18BBAM0463)
Mustafa Shehzad (L1F19BBAM0697)
Shahzal Paracha (L1F19BBAM0865)
SECTION: B
SUBMITTED TO:Sir Akmal Pasha
Table of content
2
Summary........................................................................................................................3
Introduction of company:...............................................................................................4
Products:.........................................................................................................................5
Dairy Products:........................................................................................................5
Olper's Milk: ...........................................................................................................5
Olwell Yogurt:.........................................................................................................5
Olper's Cream: ........................................................................................................5
Tarang:.....................................................................................................................5
Omore Ice Cream: ..................................................................................................5
Omung Cheese:.......................................................................................................5
Tarang Tea Whitener:..............................................................................................5
Dairy Fruit Juices: ..................................................................................................5
Olper's ProKids: .....................................................................................................5
Job title: ..................................................................................................................6
Experience: .............................................................................................................6
Performance:...........................................................................................................6
Compensation offered:...................................................................................................6
Compensation factors:....................................................................................................7
Job title: ..................................................................................................................7
Experience: .............................................................................................................7
Performance:...........................................................................................................7
Education: ...............................................................................................................7
Skills: ......................................................................................................................7
Location: .................................................................................................................7
Industry: .................................................................................................................7
Company:................................................................................................................7
Discretionary benefits:...................................................................................................8
Tuition reimbursement:...........................................................................................8
Employee discounts:................................................................................................8
On-site gym: ...........................................................................................................8
Free lunch: ..............................................................................................................8
Annual family gathering:.........................................................................................8
Other discretionary benefits: ..................................................................................8
compensation plan for Engro Foods:..............................................................................9
Base salary: .............................................................................................................9
Bonus: .....................................................................................................................9
Benefits: ..................................................................................................................9
Discretionary benefits: ...........................................................................................9
Job title: ..................................................................................................................9
Experience:..............................................................................................................9
Performance:...........................................................................................................9
Skills: ......................................................................................................................9
Industry:................................................................................................................10
Company: .............................................................................................................10
Base salary:............................................................................................................10
Salary ranges of Engro Foods Pakistan:.......................................................................10
Job title:.................................................................................................................10
Experience: ...........................................................................................................10
Performance:.........................................................................................................10
Education:..............................................................................................................10
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Skills: ....................................................................................................................11
Location: ...............................................................................................................11
Industry:................................................................................................................11
Company:..............................................................................................................11
Ensuring fair compensation..........................................................................................11
Compensation philosophy: ...................................................................................11
Market data:...........................................................................................................11
Transparency: .......................................................................................................11
Regular reviews: ...................................................................................................11
Use of a compensation committee: ......................................................................11
Conduct regular compensation audits: .................................................................11
Provide training to managers:................................................................................11
Listen to employee feedback:................................................................................12
Conduct regular salary surveys: ...........................................................................12
Use a compensation committee: ...........................................................................12
Provide training to managers: ...............................................................................12
Listen to employee feedback:................................................................................12
Common types of bonuses and incentives:..................................................................12
Performance-based bonuses: ................................................................................12
Long-term incentive plans: ...................................................................................12
Sign-on bonuses: ..................................................................................................12
Retention bonuses: ...............................................................................................13
Sales incentives: ...................................................................................................13
Employee referral bonuses: ..................................................................................13
compensating employees on accident or disability in engro foods:.............................13
Workers' compensation: .......................................................................................13
Long-term disability: L.........................................................................................13
Workers' compensation: .......................................................................................14
Short-term disability: ............................................................................................14
Long-term disability: ............................................................................................14
Voluntary benefits: ...............................................................................................14
Non cash rewards:........................................................................................................14
Gift cards: .............................................................................................................14
Employee discounts:..............................................................................................14
Company swag:.....................................................................................................14
Flexible work arrangements: ................................................................................15
Here are some of the benefits of non-cash rewards:.............................................15
Educational and professional development :................................................................15
Tuition reimbursement:.........................................................................................16
Training courses:...................................................................................................16
Mentorship programs:...........................................................................................16
Conferences and workshops:.................................................................................16
Conclusion:...................................................................................................................16
some recommendations :..............................................................................................17
Make the compensation and benefits information more transparent: ..................17
Listen to employee feedback:................................................................................17
4
Summary
Engro Foods is a leading Pakistan-based dairy and beverages company that operates
in the food and agricultural sectors. The company specializes in the production,
processing, and marketing of a wide range of dairy products, including milk, yogurt,
ice cream, and cheese. Additionally, Engro Foods also offers fruit juices, drinks, and
other value-added products.
Engro Foods is known for its commitment to quality and innovation, leveraging
advanced technology and modern production techniques to ensure the freshness and
nutritional value of its products. The company maintains a strong focus on
sustainability and responsible sourcing, working closely with farmers to promote
sustainable agricultural practices and improve milk production.
With a diverse portfolio of well-known brands such as Olper's, Olwell, Omore, and
Tarang, Engro Foods has established a strong presence in the domestic market and has
expanded its operations to international markets. The company's products are widely
available across Pakistan, catering to the evolving needs and preferences of
consumers.
Engro Foods places great emphasis on consumer satisfaction and invests in research
and development to introduce new and improved products. The company also actively
engages with its customers through marketing campaigns and promotional activities
to build brand loyalty and awareness.
As part of the Engro Corporation, Engro Foods benefits from the group's extensive
expertise in various sectors, including fertilizers, energy, and petrochemicals. This
strategic advantage allows the company to leverage synergies and achieve operational
efficiencies, ensuring sustainable growth and profitability.
In summary, Engro Foods is a prominent player in the Pakistani dairy and beverages
industry, known for its high-quality products, commitment to sustainability, and
strong market presence. The company's dedication to innovation and customer
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satisfaction has enabled it to become a trusted choice for consumers seeking nutritious
and delicious dairy products and beverages.
Introduction of company
Engro Foods Limited is a Pakistan-based dairy and beverages company that has
gained a prominent position in the food and agricultural sectors. Established in 2004,
Engro Foods has grown to become one of the leading players in the country's dairy
industry, offering a diverse range of high-quality products.
The company focuses on the production, processing, and marketing of dairy products,
including milk, yogurt, ice cream, and cheese. Engro Foods also extends its product
portfolio to include fruit juices, drinks, and other value-added items. With a
commitment to delivering nutritious and delicious offerings, the company caters to the
evolving needs and preferences of consumers.
The company boasts a portfolio of well-known brands that have gained significant
recognition and consumer trust. Some of its popular brands include Olper's, Olwell,
Omore, and Tarang, each catering to specific market segments and consumer
preferences.
Engro Foods has a robust distribution network that enables its products to reach
consumers across Pakistan. It maintains a strong presence in both urban and rural
areas, making its offerings accessible to a wide customer base. The company actively
engages with consumers through marketing campaigns and promotional activities to
build brand loyalty and increase awareness.
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As part of the larger Engro Corporation, Engro Foods benefits from the
conglomerate's expertise in various sectors, including fertilizers, energy, and
petrochemicals. This affiliation allows the company to leverage synergies and achieve
operational efficiencies, supporting its sustainable growth and profitability.
Products:
Dairy Products:
Olper's Milk: Pasteurized and homogenized pure milk with high nutritional value.
Olwell Yogurt: Creamy and wholesome yogurt available in various flavors.
Olper's Cream: Fresh cream used for cooking, baking, or adding richness to
desserts.
Tarang: Ready-to-drink tea whitener that provides a creamy texture and rich taste.
Ice Cream:
Omore Ice Cream: A wide variety of ice cream flavors, including classic and
innovative options.
Cheese:
Omung Cheese: Range of premium-quality cheese products, including cheddar
and mozzarella.
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Beverages:
Tarang Tea Whitener: Ideal for preparing a perfect cup of tea, providing
richness and taste.
Dairy Fruit Juices: Refreshing fruit juices available in a range of flavors.
Olper's ProKids: Nutritional milk formula for infants and toddlers, enriched with
essential nutrients.
Engro Foods is known for its commitment to quality, freshness, and nutritional value.
The company continuously explores new product innovations and variations to cater
to the evolving preferences of consumers. By leveraging advanced technology and
sustainable practices, Engro Foods ensures that its products meet the highest standards
of quality and freshness.
The specific compensation package that an employee receives will vary depending on
their job title, experience, and performance. However, Engro Foods is committed to
providing its employees with a competitive compensation package that reflects their
contributions to the company.
Here are some of the factors that can affect an employee's compensation at Engro
Foods:
Job title: The job title is the most important factor that affects an employee's
compensation. Higher-level positions typically command higher salaries.
Experience: Experience is another important factor that affects an employee's
compensation. Employees with more experience typically earn higher salaries.
Performance: Performance is also a factor that can affect an employee's
compensation. Employees who perform well typically earn higher salaries.
In addition to the factors listed above, other factors that can affect an employee's
compensation at Engro Foods include the location of the job, the industry, and the
company's financial performance.
Compensation offered:
The bonus is a variable amount of money that an employee can earn in addition to
their base salary. The bonus is typically based on the performance of the company or
the employee's individual performance. For example, an employee who meets or
exceeds their performance goals may be eligible for a bonus of 10% of their base
salary.
In addition to base salary and bonus, Engro Foods offers a variety of benefits to its
employees. These benefits include health insurance, dental insurance, vision
insurance, life insurance, paid time off, tuition reimbursement, employee discounts,
on-site gym, and free lunch.
The specific compensation package that an employee receives will vary depending on
their job title, experience, and performance. However, Engro Foods is committed to
providing its employees with a competitive compensation package that reflects their
contributions to the company.
Here are some of the factors that can affect an employee's compensation at Engro
Foods.The job title is the most important factor that affects an employee's
compensation. Higher-level positions typically command higher salaries.Experience
is another important factor that affects an employee's compensation. Employees with
more experience typically earn higher salaries.Performance is also a factor that can
affect an employee's compensation. Employees who perform well typically earn
higher salaries.
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In addition to the factors listed above, other factors that can affect an employee's
compensation at Engro Foods include the location of the job, the industry, and the
company's financial performance.
Overall, Engro Foods offers a competitive compensation package to its employees in
Pakistan. The specific compensation package that an employee receives will vary
depending on their individual circumstances.
Here are some examples of the compensation packages that different employees at
Engro Foods Pakistan might receive.
Compensation factors:
Engro Foods uses a variety of factors to determine the compensation of its employees.
These factors include:
Job title: The job title is the most important factor that affects an employee's
compensation. Higher-level positions typically command higher salaries.
Experience: Experience is another important factor that affects an employee's
compensation. Employees with more experience typically earn higher salaries.
Performance: Performance is also a factor that can affect an employee's
compensation. Employees who perform well typically earn higher salaries.
Education: Education can also affect an employee's compensation. Employees with
higher levels of education typically earn higher salaries.
Skills: Skills can also affect an employee's compensation. Employees with
specialized skills or in-demand skills typically earn higher salaries.
Location: The location of the job can also affect an employee's compensation.
Employees who work in high-cost areas typically earn higher salaries.
Industry: The industry in which the employee works can also affect their
compensation. Employees who work in industries that are in high demand typically
earn higher salaries.
Company
The company that the employee works for can also affect their compensation.
Companies that are more profitable typically pay their employees higher salaries.
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In addition to these factors, Engro Foods also considers the employee's individual
circumstances when determining their compensation. These circumstances may
include the employee's family size, financial obligations, and other factors.
Overall, Engro Foods uses a variety of factors to determine the compensation of its
employees. These factors are designed to ensure that employees are fairly
compensated for their contributions to the company.
Discretionary benefits
Tuition reimbursement: Engro Foods will reimburse employees for the cost of
tuition and fees for approved courses. The amount of reimbursement that an employee
receives will vary depending on the course that they are taking and the level of
education that they are seeking. For example, an employee who is taking a course to
earn a master's degree may be eligible for a higher reimbursement amount than an
employee who is taking a course to earn a certificate.
On-site gym: Engro Foods has an on-site gym that is available to employees free
of charge. The gym is equipped with a variety of equipment, including treadmills,
ellipticals, weight machines, and free weights. The gym also has a yoga studio and a
sauna.
Free lunch: Engro Foods provides free lunch to employees on weekdays. The
lunch is typically a buffet that includes a variety of dishes, such as rice, vegetables,
meat, and desserts. The lunch is also served in a designated area where employees can
relax and socialize.
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Annual family gathering: Engro Foods hosts an annual family gathering for
employees and their families. The gathering is typically held at a resort or hotel and
includes a variety of activities, such as games, food, and entertainment. The gathering
is a great opportunity for employees to connect with their colleagues and their
families.
Other discretionary benefits: Engro Foods may also offer other discretionary
benefits, such as paid volunteer time, corporate discounts, and employee referral
bonuses. Paid volunteer time allows employees to take time off from work to
volunteer for a cause that they care about. Corporate discounts give employees
discounts on products and services from Engro Foods' partners. Employee referral
bonuses give employees a bonus if they refer a friend or family member who is hired
by Engro Foods.
Overall, Engro Foods offers a variety of discretionary benefits that make its
employees feel valued and appreciated. These benefits can help employees save
money, stay healthy, and connect with their colleagues and their families.
Base salary: The base salary is the fixed amount of money that an employee
receives each year. The base salary is typically based on the job title, experience, and
performance of the employee.
Bonus: The bonus is a variable amount of money that an employee can earn in
addition to their base salary. The bonus is typically based on the performance of the
company or the employee's individual performance.
Benefits: Engro Foods offers a variety of benefits to its employees, including health
insurance, dental insurance, vision insurance, life insurance, 401(k) plan, paid time
off, tuition reimbursement, employee discounts, on-site gym, and free lunch.
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Job title: The job title is the most important factor that affects an employee's
compensation. Higher-level positions typically command higher salaries.
Experience: Experience is another important factor that affects an employee's
compensation. Employees with more experience typically earn higher salaries.
Performance: Performance is also a factor that can affect an employee's
compensation. Employees who perform well typically earn higher salaries.
Education: Education can also affect an employee's compensation. Employees with
higher levels of education typically earn higher salaries.
Skills: Skills can also affect an employee's compensation. Employees with
specialized skills or in-demand skills typically earn higher salaries.
Location: The location of the job can also affect an employee's compensation.
Employees who work in high-cost areas typically earn higher salaries.
Industry: The industry in which the employee works can also affect their
compensation. Employees who work in industries that are in high demand typically
earn higher salaries.
Company: The company that the employee works for can also affect their
compensation. Companies that are more profitable typically pay their employees
higher salaries.
Here is an example of a compensation plan for an employee with the job title of
"Manager":
Engro Foods Pakistan is a leading food and beverage company in Pakistan. The
company offers a variety of products, including packaged foods, dairy products, and
beverages. Engro Foods Pakistan also has a strong presence in the export market.
In addition to base salary and bonus, Engro Foods Pakistan also offers a variety of
benefits to its employees, including health insurance, dental insurance, vision
insurance, life insurance, paid time off, tuition reimbursement, employee discounts,
on-site gym, and free lunch.
Overall, the salary ranges and pay scale of Engro Foods Pakistan are competitive with
other companies in the Pakistani market. The company also offers a variety of
benefits that make it an attractive place to work.
Here are some of the factors that can affect an employee's salary at Engro Foods
Pakistan:
Job title: The job title is the most important factor that affects an employee's salary.
Higher-level positions typically command higher salaries.
Experience: Experience is another important factor that affects an employee's
salary. Employees with more experience typically earn higher salaries.
Performance: Performance is also a factor that can affect an employee's salary.
Employees who perform well typically earn higher salaries.
Education: Education can also affect an employee's salary. Employees with higher
levels of education typically earn higher salaries.
Skills: Skills can also affect an employee's salary. Employees with specialized skills
or in-demand skills typically earn higher salaries.
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Location: The location of the job can also affect an employee's salary. Employees
who work in high-cost areas typically earn higher salaries.
Industry: The industry in which the employee works can also affect their
compensation. Employees who work in industries that are in high demand typically
earn higher salaries.
Company: The company that the employee works for can also affect their
compensation. Companies that are more profitable typically pay their employees
higher salaries.
I hope this essay has given you a better understanding of the salary ranges of Engro
Foods Pakistan. If you are interested in working for Engro Foods Pakistan, I
encourage you to visit their website and apply for a position.
Engro Foods Pakistan is committed to ensuring fair compensation for all of its
employees. The company has a number of policies and procedures in place to ensure
that compensation is fair and equitable. These policies and procedures include:
Here are some additional ways that Engro Foods Pakistan can ensure fair
compensation:
Engro Foods Pakistan offers a variety of bonuses and incentives to its employees.
These bonuses and incentives are designed to reward employees for their
performance, loyalty, and contributions to the company.
Some of the most common types of bonuses and incentives offered by Engro Foods
Pakistan include:
The specific bonuses and incentives that are offered by Engro Foods Pakistan may
vary depending on the employee's job title, experience, and performance. However,
the company is committed to providing its employees with competitive compensation
and benefits.
Engro Foods Pakistan has a comprehensive employee benefits package that includes
compensation for employees who are injured on the job or who become disabled. The
benefits package includes:
The benefits package at Engro Foods Pakistan is designed to help employees who are
injured on the job or who become disabled. The benefits provide financial assistance
and help to ensure that employees can continue to meet their financial obligations.
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Here are some additional details about the compensation that Engro Foods Pakistan
provides to employees who are injured on the job or who become disabled:
here are some non-cash rewards that Engro Foods Pakistan gives to its employees:
Gift cards: Gift cards can be used to purchase goods or services at a variety of
retailers.
Employee discounts: Engro Foods Pakistan offers its employees discounts on
products and services that the company sells.
Travel vouchers: Travel vouchers can be used to book flights, hotels, and other travel-
related expenses.
Company swag: Company swag includes items such as t-shirts, hats, mugs, and
other items with the company logo.
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Public recognition: Public recognition includes things like being featured in the
company newsletter or being given a shout-out at a company meeting.
Flexible work arrangements: Flexible work arrangements allow employees to
work from home or to set their own hours.
Employee development opportunities: Employee development opportunities include
things like tuition reimbursement, training courses, and mentorship programs.
These are just a few examples of non-cash rewards that Engro Foods Pakistan gives to
its employees. The specific rewards that are offered may vary depending on the
employee's job title, experience, and performance. However, the company is
committed to providing its employees with a variety of rewards that are both
meaningful and valuable.
They can be more motivating than cash rewards. Non-cash rewards can be more
motivating than cash rewards because they are often seen as more meaningful. For
example, an employee who is given a gift card to their favorite store may be more
motivated to work hard than an employee who is given a cash bonus of the same
amount.
They can help to improve employee morale. Non-cash rewards can help to improve
employee morale by showing employees that their work is appreciated. When
employees feel appreciated, they are more likely to be happy and engaged in their
work.
They can help to attract and retain top talent. Non-cash rewards can help to attract and
retain top talent by showing potential employees that the company is a great place to
work. When employees know that they will be rewarded for their hard work, they are
more likely to want to work for the company.
Overall, non-cash rewards can be a valuable way to motivate, appreciate, and retain
employees. Engro Foods Pakistan is wise to offer a variety of non-cash rewards to its
employees.
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Some of the educational and professional development support programs that Engro
Foods Pakistan offers include:
Here are some of the benefits of educational and professional development support:
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It can help employees develop their skills and knowledge. Educational and
professional development programs can help employees learn new skills and
knowledge that can help them in their current jobs or in future roles.
It can help employees advance their careers. Educational and professional
development programs can help employees develop the skills and knowledge they
need to advance their careers.
It can help employees achieve their personal and professional goals. Educational and
professional development programs can help employees achieve their personal and
professional goals by providing them with the resources they need to develop their
skills and knowledge.
Overall, educational and professional development support can be a valuable way for
employees to develop their skills, advance their careers, and achieve their personal
and professional goals. Engro Foods Pakistan is wise to offer a variety of educational
and professional development support programs to its employees.
Conclusion
Engro Foods Pakistan is committed to providing its employees with fair compensation
and benefits. The company offers a variety of bonuses and incentives, as well as
compensation for employees who are injured on the job or who become disabled.
Engro Foods Pakistan also offers a variety of non-cash rewards and educational and
professional development support programs. These programs are designed to help
employees develop their skills and knowledge, advance their careers, and achieve
their personal and professional goals.
Overall, Engro Foods Pakistan is a great place to work. The company offers
competitive compensation and benefits, as well as a variety of programs to help
employees develop their skills and advance their careers. If you are looking for a
rewarding career, Engro Foods Pakistan is a great option.
Engro Foods Pakistan is committed to providing fair compensation and benefits to its
employees.
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The company offers a variety of bonuses and incentives, as well as compensation for
employees who are injured on the job or who become disabled.
Engro Foods Pakistan also offers a variety of non-cash rewards and educational and
professional development support programs.
These programs are designed to help employees develop their skills and knowledge,
advance their careers, and achieve their personal and professional goals.
Overall, Engro Foods Pakistan is a great place to work.
Some recommendations
Continue to offer fair compensation and benefits: Engro Foods Pakistan has a good
track record of offering fair compensation and benefits to its employees. The
company should continue to do this in order to attract and retain top talent.
Expand the range of non-cash rewards: Non-cash rewards can be a valuable way to
motivate and appreciate employees. Engro Foods Pakistan could expand the range of
non-cash rewards it offers, such as gift cards, employee discounts, and travel
vouchers.
Increase the number of educational and professional development support programs:
Engro Foods Pakistan offers a good range of educational and professional
development support programs. However, the company could increase the number of
programs it offers in order to give employees more opportunities to develop their
skills and advance their careers.
Make the compensation and benefits information more transparent:
Engro Foods Pakistan should make the compensation and benefits information more
transparent to employees. This will help employees understand how their
compensation is determined and what benefits they are eligible for.
Listen to employee feedback: Engro Foods Pakistan should listen to employee
feedback about compensation and benefits. This will help the company identify areas
where it can improve its compensation and benefits programs.