Strategic compensation: A human resource management approach of IDLC Finance Limited

Abstract

This report provides a detail discussion about the compensation philosophy of IDLC and my internship experience at the company. The main purpose of this report is to find and understand the compensation strategies of the company. Data provided, are collected by using both primary and secondary sources where methods of primary data collection include interview of honorable Assistant Manager of HR and observation of day-to-day activities of the division. And secondary data were collected from books, online blogs and website, publications, HR manual of IDLC. The first chapter of this report is the introductory chapter while chapter two gives an overview of IDLC Finance Limited. About the compensation philosophy of IDLC, the third chapter includes IDLC’s pay structure, pay grades, salary ranges, pay system, salary increment system, bonuses, incentive pay system, terminal and fringe benefits, perquisites for executives, recognition awards, features of IDLC HR system and intrinsic compensation of IDLC. Chapter four describes my overall internship experience at IDLC. And finally, chapter five is the concluding chapter containing findings, discussion, data analysis and some recommendations for IDLC.