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Finance Essay

3553 words - 15 pages

Chapter 1

1. Introduction

Compensation refers to the organizations entire reward package, including not only financial rewards and benefits but also non tangible benefits such as securities. It includes to all forms of pay or rewards going to workers and arising from their employment. Once workers have done their jobs and been appraised, they expect to be paid. Each and every worker in an organization works for money or incentives. So their first and foremost expectation from the organization is to earn money or appropriate compensation. Compensation is the most important part or tool of any organization. Because, human body works for earning something. And this earning policy ...view middle of the document...

Their only one earning source is their works. That’s why they dedicate and devote their life for that. But we all are informed that the RMG sectors are not follow their compensation policy still they have separate policy. That’s why we have selected two RMG garments- one is Perfect Sharp Apparel co. and another one is Millennium Garments Limited Company to identify their compensation practice. What are the factors are related for compensation policy, how the garments measure their compensation? Are they following their original policy in practically? We are going to identify these terms and which garment company follows the appropriate compensation rule that we are going to identify from this analysis.

1.1 Statement of the Research Problem

The central idea of this assignment is to get an overall idea about the compensation package on RMG sector in Bangladesh. The main focus of this assignment lies with the identification of various factors or components that related with the compensation. The overall compensation practice of our garments sectors specially RMG sectors, what are the imbalances between the HR policies and practically compensation practices in RMG sector in Bangladesh these we are going to investigate through our assignment.

2. Objective of the Study

There are two types of objective that fulfilling the study. These are broad and specific objectives...

Broad

The broad objective of the study is to identify and analyze the compensation package on RMG sector and what are the imbalance between employer policy and workers getting benefits from the company.

Specific

The specific objectives are:

• To identify the components of compensation policy;
• To identify how the garment calculate their compensation;
• To identify the factors affecting about compensation;
• To identify the differences between two garments company’s compensation practices.

3. Methodology

To prepare our assignment we have collected data from primary and secondary sources. We have collected primary data from 20 workers of two Garments company with the help of questionnaires and collect information through physical interview with Human Resource officer. Then we have collected secondary data through internet and books. When we were able to collect all information relating our assignment then we analyzed the data and investigated all data and information. We explained all of our related data in the result analysis part where we have used table and described all things consecutively. After having all discussion we have tried to find out the some positive or negative things of our study. When we have completed our findings and analysis we tried to draw some recommendation about the findings of our assignment. Finally we have tried to make conclusion of our assignment.

4. Scope &...

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