Policies and Practices of Compensation Management in Fashion.com Limited

Abstract

This study is the aftereffect of my three-month internship program held at Fashion.com Ltd. Since my internship program was led to comprehend the standards and practices of compensation the board. I had to gain some practical areas of employee responsibility and accountability. So that I can ask them and contact them to evaluate their perspectives and relationships with the organization. I tried to ask the staff to collect my information by questionnaire. In the age of globalization, it is very difficult for an organization to survive in a competitive market with others. Thus, an organization must use its human resources in efficient and effective ways to compete with other companies. Without proper utilization of human resources, there is no way to sustain competition. To get high productivity or high performance from each employee an organization must do better compensation management practices. On the other hand, Sound Compensation/Reward System brings peace in the relationship between employer and employees. So in this report, I have tried to explore compensation policies and practice in Compensation Management Practices of Fashion.com Limited. To fulfill that I have done internship program. To do internship analysis I have gathered information about compensation of different job position. A market survey has been conducted for designing a compensation system in Fashion.com Limited. From the studies on this issue empirically and practically we learn that better compensation practices largely depend on the number of interrelated components and things. Such as workplace knowledge, skill, training, neutral promotion policies, lack of gender discrimination. Despite differences in opinions made by the employees and staff of the organization on what the study was conducted, what the study finds is that the average level employee is satisfied in compensation management practices.