Your Company, a technology start-up in the area of telecommunication services, has decided to formulate compensation strategies

Q.1) Your Company, a technology start-up in the area of telecommunication services, has decided to formulate compensation strategies. Before penning down the strategies, the HR Manager considers it necessary to identify factors that influence the compensation strategies. You, as an employee of HR Department, are assigned this task of identifying these factors.
Q.2) Your Company is diversifying into online retail business and HR Department is busy dealing with compensation challenges. HR Department has decided to conduct the Wage Survey in order to determine the compensation system for the organization. You are given the task of suggesting the type of survey suitable for your organization. In this light, identify different types of wage surveys and recommend a type for your organization.
Q.3) ABC Ltd is a newly incorporated company in financial services sector. They are a company providing consultancy to other companies in the area of financial planning for the employees in that respective organization. They are into their third year of operations and have a strength of 75 employees and their target market is Mumbai region with no sector specific segmentation. You are working as an HR Manager in ABC Ltd and you are supposed to solve following problems:
  1. a) ABC Ltd is yet to provide to its employees legally required benefits. As an HR Manager, you are supposed to list the legally required benefits for employees in ABC Ltd.
  1. b) Company is also considering the option of providing fringe benefits to its employees. You are supposed to suggest the fringe benefits that your company can provide to its employees.

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