A PROJECT REPORT ON COMPENSATION BENCHMARKING IN SMALL AND MIDIUM SCALE ENTERPRISES – ENVISION ENTERPRISE SOLUTIONS

Abstract

The project is on “Compensation Benchmarking in Small and Medium Scale enterprises”There is certain pay system for employees in every enterprise and industries but the compensation varies from employee to employee in the benefits they receive. This is all about how the compensation is given to the employees in small and medium scale enterprises. To attract and retain talented employees in the same enterprise for long time, compensation plays a vital role. Hence compensation is one of the tools to attract the talented employees. In this it includes all about how the compensation is given for a particular employee and what are all the components are included for the employee depending on their level qualification and work experience. The employees compensation data is collected with a questionnaire survey and it includes all the details with are under compensation system. The acquired data is taken in a format and according to the requirement. Benchmarking the compensation components and according to the results doing a research study with the analysis and coming to the conclusions