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2014•Siddhant- A Journal of Decision MakingRequires access

Compensation Management Practices in Software Industry: A Case Study

Kishore Kumar Das, Prajna Mohapatra

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Abstract

One of the important questions to every employee is “does money matter to them”? The answer is definitely “yes”. Money definitely provides a means for having a more affluent lifestyle. How much we earn often determines how we view our social status and ourselves. In this business world, money in terms of compensation motivates behaviour when employees get any financial rewards or extra benefits with relation to their performance or contributions towards the organizational objectives. Hence, at different stages in one's life and career, pay and compensation are perceived differently. Therefore, in this regard a small attempt has been made to look into the field of compensation management, which plays a vital role for an organization and for the employees. For this, we have taken the case of one of the leading software companies of India and employees belong to it.

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What this paper is about

One of the important questions to every employee is “does money matter to them”? The answer is definitely “yes”. Money definitely provides a means for having a more affluent lifestyle. How much we earn often determines how we view our social status and ourselves. In this business world, money in terms of compensation motivates behaviour when employees get any financial rewards or extra benefits with relation to their performance or contributions towards the organizational objectives. Hence, at different stages in one's life and career, pay and compensation are perceived differently. Therefore, in this regard a small attempt has been made to look into the field of compensation management, which plays a vital role for an organization and for the employees. For this, we have taken the case of one of the leading software companies of India and employees belong to it.

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Available abstract

One of the important questions to every employee is “does money matter to them”? The answer is definitely “yes”. Money definitely provides a means for having a more affluent lifestyle. How much we earn often determines how we view our social status and ourselves. In this business world, money in terms of compensation motivates behaviour when employees get any financial rewards or extra benefits with relation to their performance or contributions towards the organizational objectives. Hence, at different stages in one's life and career, pay and compensation are perceived differently. Therefore, in this regard a small attempt has been made to look into the field of compensation management, which plays a vital role for an organization and for the employees. For this, we have taken the case of one of the leading software companies of India and employees belong to it.

Key concepts: Compensation (psychology), Software, Business, Workers' compensation, Computer science, Process management, Operating system, Psychology

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