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How can HR measure the return on investment for our employee benefits programs?
Dear Confused Identity,

Employee Benefits Package Is Part Of Compensation Which Is Called Non- Guaranteed Cash May Some Elements Inclusive Of Reimbursements But Majority Of Elements Are Perks In Kind Or Reimbursed Against Actual Expenditure.

If You Want To Work Out Return On Investment You Have To Take Into Account Whole Job Price And Job Size Or Work Load Factors.

For This You Have To Implement Job Evaluation System To Determine The Relative Worth Of Job Based On Certain Factors Relating To The Job For Various Activities And Awarding Them A Point System To Measure Calle Point Factor Job Evaluation System.

Unfortunately This Hr Tool Which Is Part Of Compensation Management And Vigoureously Practiced In Western Countries Not Being Practiced By Indian Corporates Because To Develop This System It Takes Lot Of Money By Consulting Companies. Who Develop This Job Evaluation Process. Another Reason Being This Needs Very Good Market Salsry Survey And Databank To Support The Results. For Establishing The Market Value Of The Job.

Regards

Badlu


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