2. Meet the Speaker
Bimal Rath is Head HR for Nokia in South Asia. He has previously worked for
organizations like the Tata Group and British Telecom in senior HR roles, spanning
across HR Strategy, HR service delivery, Joint Venture relationship management and
specialist HR areas. His professional interest areas are in Compensation and Benefits,
Organizational Design and Leadership development. Bimal has been involved actively in
HR associations like National HRD Network. He also takes time off to teach in renowned
management schools.
5. Meet the Speaker
P. Senthil Kumar is Director – Human Resources and Administration for Cairn India. He is
responsible for strategic decision making in the areas of HR policy, compensation planning,
recruitment and performance management in the organisation. Senthil holds a Post
Graduate in Personnel Management and Industrial Relations from Xavier Labour Relations
Institute (XLRI), Jamshedpur and a Bachelor’s degree in Technology (Chemical Engineering).
In a career spanning more than 23 years, he has made significant contributions as a Human
Resource (HR) professional.
6. Compensation as a Strategic Tool in Talent
Management
P Senthil Kumar- Director-HR & Administration
7. Not Compensation but Rewards
'Compensation', it's a quite a conservative approach and also has
a negative connotation in itself!
‘ Reward’, A Progressive and positive approach to fair Employee
Remuneration
8. Cairn India – 2007
Total Rewards
Complete Package termed “Total Rewards includes:
Total Rewards”
Salary
Benefits
9. Cairn India – 2007
Total Rewards CONTD.
Recognition
Quality of Work Life
10. Cairn India – 2007
Wealth Creation
Career Growth
Personal Development Opportunities
p pp
11. Rewards to an Organisation
g
Link Rewards to an Organization's 4 main life cycle stages :
Growth
Stabilization
Maturity and
Decline
irrespective of what Sector or Industry one operates in .
The Reward Levels is always Benchmarked to the right 'Marketplace
Salaries' and not just 'Internal Measures'.
12. Reward Mix
Growth Stage( Startup Companies) Reward Mix should be on :
g ( p p )
High on cash components
Substantial in Benefits
Low Variable pay (STI/MTI)
None on wealth creation (LTI/Stock Options)
Stabilization Stage :
Lesser cash component
More on Benefits
Higher on variable Pay
Bit of wealth creation
13. Cairn India – 2007
Reward Mix CONTD.
Maturity Stage:
Focus on consolidation of the Benefits
Quite High onus upon variable pay
Adequate wealth creation
Decline Stage :
Cash
C h component get F
t t Frozen
Focus on wealth creation comes down
Benefits get stabilized
Very high variable pay mix
14. Cairn India – 2007
Healthy Reward Philosophy
y p y
A healthy Reward philosophy is always based on a right blend
of :
'Pay for Role' through Fixed Salaries
'Pay for Performance' via Variable Pays
15. Cairn India – 2007
Healthy Reward Philosophy
y p y CONTD.
'Pay for Skills' by way of Skill Allowance premiums
y y y p
Focus on total value propositions
16. Cairn India – 2007
Differentiate the Talent Pool
Differentiate the ‘Talent Pool’ & create variable Reward
strategies , keeping ‘ Different Strokes for Different Folks’.
17. Cairn India – 2007
Rewarding Employee…NO NO…?
g p y
Rewarding Employee on the following basis are strictly No,
g p y g y
No, No, in today’s Market scenarios :
Personality Factors
Halo Effects
Recency Impacts
18. Thanks
Thank you for your participation
For Question & Feedback
For Question & Feedback
please email at ankur@hrtalks.in