its a a presentation about Compensation benefits and services, u will get a knowledge about facilities of specific factories

1. Compensation Benefits
and Services

2. Overview about the Factory
N A S R I N G A RME N T S L T D.
(Sister Concern of Shinest Group)
Nasrin Garments Ltd is a well-established and leading
Apparels manufacturer in the RMG sector of Bangladesh
consists of its 100% Export Oriented Woven Garments.
Company is a established with latest state of art Machineries
to satisfy buyer needs and a team of professional personnel to
look after from piece goods to meet the buyers ultimate
delivery. We believe in quality and trust worthy relationship to
grow up mutually.

3. Overview about the Factory
General Information:
Name of the Organization : NASRIN GARMENTS LTD
(100% Export Oriented Garment Factory)
BGMEA REG NO. : 1695
Year of Establishment : 1990 - Shirts
: 2003 - Trousers
Legal Aspect of the Organization : A Private Company
Factory Address : Azim Tower : Plot # 217/1,Beribadh,
Mohammadpur,Dhaka-1207 -Bangladesh.

4. Overview about the Factory
General Information:
(Contact Details)
Factory location : 10 km from the Airport
5 km from the Hotel Sonargaon.
Telephone : 880-2-8125607, 9132358
Fax : 880-2-8113878
E-mail : Shinest@dhaka.net
Annual Volume : USD 40.00 Million
Advising Bank : Al- Arafah Islami Bank Ltd.
Shahajalal Islami Bank Ltd.
Social Islami Bank Ltd.

5. Introduction• In Short, Employee
compensation refers to the benefits
(cash, vacation, etc.) that an
employee receives in exchange for
the service they provide to their
employer. In other words,
Compensation and benefits refers to
the compensation/salary and other
monetary and non-monetary benefits
passed on by a firm to its employees.
Here , We discuss about
“Compensation Benefits and
Services” of “Nasrin Garments
Limited “ address is Azim Tower :
Plot # 217/1, Beribadh,
Mohammadpur, Dhaka-1207
,Bangladesh.

6. Objectives of the Study
• To find out compensation policy issued by a desired factory.
• To find out laws affecting employees benefits & compensation.
• To find out Goals of compensation plan.
• To find out total compensation for employee satisfaction.
• To find out the classification components of compensation.
• To find out direct Compensation Components of a desired factory.
• To find out Wages and Salary Compensation of a desired factory.
• To find out Bonus Compensation of a desired factory.
• To find out Overtime Compensation of a desired factory.
• To find out Indirect Compensation Components of a desired factory.
• To find out Healthcare Compensation of a desired factory.
• To find out Recreational Compensation of a desired factory.

7. Objectives of the Study
• To find out Leave & Other Compensation of a desired factory.
• To find out Insurance Compensation of a desired factory.
• To find out Recruitment Compensation of a desired factory.
• To find out Maternal leave Compensation of a desired factory.
• To find out Unemployment Insurance Compensation of a desired factory.
• To find out Benefits & Incentives System of a desired Factory-
o Incentive pay
o Child Care
o Sick Pay
o Healthy & safety Environment
o Health & Hygiene
o Dining Room
o Prayer Room

8. Issues in Managing
Compensation

9. Total Reward Trends

10. Entire Pay Model Process

11. Compensation Policy Issues by a Desired
Factory
• Pay for Performances.
• Pay for Skill/Knowledge Level.
• Pay for Seniority.
• Overtime and Shift pay.
• Probationary Pay ( Sometimes).
• Paid for Holiday’s work.
• Pay for Competency.
• Pay for Health Care.
• Pay for Recreation.
• Pay for life assurance and so on.

12. Laws Affecting Employee Benefits &
Compensation
The Following Laws of Bangladesh are directly affecting
employees benefits & Compensation Policy-
• Fair Labor Standards Act (FLSA) .
• Employee Income Retirement Security Act of 1974
(ERISA).
• Age Discrimination and Employment Act (ADEA).
• Family Medical Leave Act (FMLA) of 1996.
• Economic Growth and Tax Relief Reconciliation Act
(EGTRRA) of 2001.
• Health Insurance Portability and Accountability Act of
1996 (HIPAA) (and amendments).
• Pension Protection Act of 2006.

13. Goals of Compensation Plan
• Employees feel they are compensated/rewarded
fairly/equitably for their efforts and contributions to
an organization’s success.
• Employers are able to attract and retain employees
who will contribute to the organization’s success.

14. Total Compensation
Employee Satisfaction
Rewards
• Bonus
• Salary Increases
• Promotions
• Equity Offerings
• Awards
• Recognition
• New job assignments
Benefits
• Health Plans
• Retirement Plans
• Vacation/ time off
• Paid Training
• Working Hours

15. Components of
Compensation

16. Direct Compensation Components of a desired
factory
The most well-recognized form of compensation, and
probably the first type of compensation sought by most
workers, is direct compensation. Direct compensation is the
money directly paid to employees in exchange for their labor.
Direct compensation includes wages, salaries, bonuses, tips
and commissions and so on. The main components are given
below:-
Basic salary and wages
Bonuses
Tips and Commissions
Overtime etc.

17. Wages and Salary Compensation of a desired factory
Wages generally refer to hourly
compensation paid to operating
employees and salary is income paid to
an individual on the basis of time. In
“Nasrin Garments Ltd” management also
recognizes that wages are essential to
meeting employees’ basic needs . As a
result Company pays employees, as a
Garments Floor, at least the minimum
wage required by our local law in
Bangladesh prevailing industry wage
,whichever is higher, and always provides
legally mandated benefits. Wages and
overtime charges are paid within the 7th
of the following month. The Factory pays
TK.5300.00 as the monthly minimum
Salary to a new worker/Operator.

18. Bonus Compensation
of a desired factory
Additional compensation
given to an employee
above his/her normal wage
is called Bonus. A bonus
can be used as a reward
for achieving specific goals
set by the company, or for
dedication to the company.
“Nasrin Garments Ltd.”
paid their employees
according to their
performance assessment
and their enthusiasm for
work.

19. Overtime Compensation of a desired
factory
In addition to their (Workers)
compensation for regular hours of
work, employees are compensated
for overtime hours at such premium
rate as is legally required in
Bangladesh or at a rate equal to the
double of their regular hourly
compensation rate. Except in
extraordinary business
circumstances, employees are (i) not
required to work more than the
lesser of (a) 48 hours per week and
12 hours overtime or (b) the limits on
regular and overtime hours allowed
by the law of Bangladesh, and (ii) are
entitled to at least one day off in
every seven day period.

20. Indirect Compensation Components of a desiredfactory
Non-monetary remuneration to employees, including annual
leave, health insurance, life assurance, company car and
mobile and pension funds. Note that both ‘standard’
contractual features (annual leave) as well as valuable
benefits (healthcare) can be included in indirect
compensation. The main indirect component are –
Insurance (Health)
Leave (Sick, Holiday , etc.)
Life assurance
Safety facility and so on.

21. Healthcare Compensation of a desired factory
Considering the provision of health care
facility to our workers and staffs under the
prevailing labor act, “Nasrin Garments Ltd “
has a complete dispensary supported by a
Medical Officer trained in medicine and
gynecology and one trained nurses. Necessary
First Aid, along with supply of emergency
medicines provided at free of cost from this
dispensary. In the case of long term
treatments of any worker, “Nasrin Garments
Ltd “ takes the patient to a better hospital.
Under the circumstances the authority takes
necessary steps to provide full course of
treatment. “Nasrin Garments Ltd” has a own
ambulance and all time ambulance ready for
service to our workers. Most health benefit
employee contributions will be deducted from
pay pre-tax.

22. Recreational Compensationof a desired factory
The factory arrange an annual picnic or special
feast for the workers every year on our Bengali
New Years Day or Pahela Baishakh. All workers
and staffs enjoy and celebrate the day with a
festive mood. In the evening they participate
in a cultural event.

23. Leave & Other Compensation of a desired factory
“Nasrin Garments Ltd” provides all kinds of leave
benefits to its worker as HN treats all the workers as
its valuable asset. Maternity Leave Benefits, Two
festival Bonus, Yearly increment of Monthly Salary ,
Attendance Bonus, and Financial supports to all
employees in accordance with the recommendation
by the Social Welfare Committee.

24. Insurance Compensation of a desired factory
More than one-third of RMG factories in Bangladesh
are yet to give Group Insurance Coverage (GIC) to
their workers, in what amounts to non-compliance
with the labor laws and “Nasrin Garments Ltd” is one
of that factory. They provide insurance assurance as
well as life assurance for their workers & staffs to
ensure their better life.

25. Recruitment Compensation of a desired factory
“Nasrin Garments Ltd”
has a written Recruitment
Policy. All Recruits are
above 18 years of age. It
has a strong Recruitment
committee, where the
Recruitment committee
directly takes part to
recruit the workers and
staffs considering the age
first then experiences and
skills.

26. Maternal leave Compensation of a desired factory
“Nasrin Garments Ltd” provides every female
workers maternal leave according to the
Bangladesh Labor Act,2006 & Amendment,
2013. Usually they provide 12 weeks unpaid
leave as a maternity benefits. They also
ensure the female workers to return their job
or equivalent position after the leave.

27. Unemployment Insurance
Compensation of a desiredfactory “Nasrin Garments Ltd” also
provides for benefits of
unemployment insurance if a
workers is unable to work
due to permanent injury
occurred during the working
hour. As well as they also
ensure best medical support
for the injured workers.
Along this , they furthermore
provides the job opportunity
to the factory to his referred
one against supplementary
benefits.

28. Deduction System of a desired factory
“Nasrin Garments Ltd” also deducted some money from the
gross pay of the workers for providing some compensation.
But the amount has been deducted from the workers , the
factory also paid the same amount to assure better
Compensation & Benefits. The sector from which workers
have to pay are given below-
Credit Union Payment
Health Insurance
Accidental Death
Life Insurance and so on.

29. Benefits & Incentives System of a desired Factory
(Incentive pay)
Sometimes “Nasrin Garments Ltd” offered
incentive or money to encourage employees
to strive for higher level of performance. By
this way they try to motivate the employee in
order to get best response in production.

30. Benefits & Incentives System of a desired Factory
(Child Care)
There is a opportunity of Child
care system inside the factory .
The female employees and
workers are provided on sited
child care system on the
production floor. So that ,
during the working time their
mother can take care of them &
as well as the factory also
provide a full time nurse for the
child care for taking care the
child when their mother was
not present their.

31. Benefits & Incentives System of a desired Factory
(Sick Pay)
“Nasrin Garments Ltd”
provide an allowance of
days each year for
sickness, with regular
pay. Usually workers
receive (±) 5-10 days
within a year as “ Sick
Leave” without
deduction from any
kind of Value.

32. Benefits & Incentives System of a desired Factory
(Healthy & Safety Environment)
“Nasrin Garments Ltd”
provides a safe and healthy
working environment to
prevent accidents and injury to
health arising out of, linked
with, or occurring in the
course of work or as a result of
the operation of employer
facilities. HN believes that in a
sound work place workers can
give their best output to reach
at the goal. Entire floors are
well ventilated by installing
sufficient number of air
circulation devises. Workers
can work in cool atmosphere.

33. Benefits & Incentives System of a desired Factory
(Healthy & Hygiene)
The Factory is lighted well with sufficient Tube lights,
natural flow of air. All floors are well ventilated and
well furnished with sufficient hygienic toilets. Toilets
are cleaned and well maintained with detergent,
liquid toilet cleaner and flashing with sufficient
quantity of tap water. Workers are provided with
pure & safe drinking water.

34. Benefits & Incentives System of a desired Factory
(Dining Room)
Dining hall is situated on the 3rd floor & 7th
Floor .Numbers of Ayahs are engaged to
maintain a hygienic environment taking
necessary measures. 900 hundred workers can
sit at a time to take their lunch.

35. Benefits & Incentives System of a desired Factory
(Prayer Room)
Paying the respect towards religious
sentiment of their workers two separate
prayer rooms; one for Male and another for
Female have been set up near by the Dining
Hall at the 3th floor of the factory.

36. Closing Thoughts
• How employees are “compensated” takes many
forms – salary, benefits, working conditions,
challenging/stimulating work, co-workers, etc. The
right “mix” for each person is different.
• Pay policies will differ for every employer – some will
focus on cash compensation and some will focus on
Total Compensation
• The employer’s main goal is structuring
compensation and benefit programs is to be able to
attract and retain the right employees needed to
help the employer be competitive .

37. Closing Thoughts
• Employee benefits have huge budget impacts to employers.
• Benefits are the “hidden paycheck” for employees.
• Employees need to understand the “total compensation” an employer provides –
not just the “salary.” Employers need to sell Total Compensation – not just salary.
• Employees need to be “educated consumers” of benefit programs – especially
health care and retirement programs.
• Employees should take advantage of retirement plan offerings and save early– and
always save enough to at least take advantage of employer’s matching
contribution.

38. Thank you for your Patience

39. Any Questions?