Volume : 1, Issue : 7, December - 2012

Study on Compensation Management System & its Impacts on Employees and Organisation Magnitudes in Pharmaceutical Industry at Ankleshwar Belt

Mehul D. Mehta, Nazneen Shaikh

Abstract :

“If you pick the right people and give them an opportunity to spread their wings and put compensation as a carrier behind it you almost dont have to manage them.” – Jack Welch(Source: http://www.goodreads.com/author/ quotes/3770.Jack_Welch) The aim of this research study is to build an understanding regarding the studying the Compensation Management System in pharmaceutical industry operating at Ankleshwar region. So understanding of it will help in terms of identifying the importance of Compensation from the perspective from HR. Now–a–days in the area of Globalization major MNC Organization are entered in to the pharmaceutical industry and giving competition to local players in terms of capturing market share as well as giving competition in terms of getting best HR from their competitors from the labour market. So here researchers have tried to find out the role of Compensation Management in terms of attracting the talent from the market, try to identifies the components that are offered in the industry & lastly to find out the relationship between compensation management & productivity of an employees.