Internship Report on Compensation strategy of IDLC

Abstract

Compensation system includes all the monetary and non-monetary benefits such as salary, bonus, increment, transportation benefits, accommodation facilities etc, that a company provides employees to value their service towards the company. This report includes both primary & secondary data. Primary data includes the interview of honorable Assistant Manager of HR and observation. And secondary data were taken from books, publications, online blogs and website, HR manual of IDLC. This report is to understand their pay system and point out the intrinsic compensation and an overall idea about the strategies that IDLC is using for their compensation. IDLC is the largest financial non-banking institution of Bangladesh. With four subsidiaries 1400 people is working under them. They are maintaining their strategies as a key to success with an above average salary system. They provide salary on the basis of exempt and non- exempt, geography the length of time, grade of rank, job family etc. They are also providing several types of awards to motivate employees and to giving them recognition. By using the ways of giving feedback, autonomy and other processes they provide employees intrinsic compensation. In Swot analysis the strengths, opportunities, weaknesses and threats of IDLC’s compensation system is providing. And then this report also includes some positive and negative findings. There are also some recommendations by using those recommendations the compensation system of them will be stronger. And the report ends with a conclusion about the whole compensation strategy of IDLC.