Project Title:

The Impact of Compensation Management Practices on Job Motivation with respect to Private Bank Employees in Mumbai City-A Study.”

NEED OF THE STUDY

The study compensation management gives the brief information about the employee compensation in the organization and it explains employee reward system and it determine the performance of employee on their work. The Rationale for the study is to design the suitable compensation package for employees which is Cost Effective and at the same time provides Job Motivation to Employees.

SCOPE OF THE STUDY:

The study focuses on compensation management in the Private Banks in Mumbai. It gives the detail information on employee compensation based on their performance and employee levels in Private Banks.

This project is to study of the compensation management strategies & to evaluate the behavior & performance of employee on their work

OBJECTIVES OF THE STUDY:

  1. To Study the impact of compensation management on performance level of Private bank employees in Mumbai.
  2. To know the various types of compensations provided by the company.
  3. To identify the satisfaction level of employee’s of their compensation.
  4. To Study the problems related to Compensation faced by Bank Employees and bring out suitable measures to solve them

RESEARCH METHODOLOGY:

Research Design: The Method of Research Design that will be is both Exploratory and Descriptive Study in Nature.

  • Sampling frame: Sample frame will be taken from among the Employees working in Private Banks at Mumbai
  • Sample size: Sample size will be around 100 Private bank employees
  • Sampling Procedure: The Sampling Procedure to be used is Random sampling since the Employees working in private banks will be chosen randomly.
  • Sample Units: The Bank employees of HDFC , ICICI, AXIS and Kotak Mahindra Bank will form part of 100 Sample units
  • Period of the study: The duration for the project may be limited to 40 -50 days approximately

Data collection Methods:

  1. Primary data: Under Descriptive research design primary data will be collected using a well structured questionnaire which contains questions satisfying the objective of the Study.
  2. Secondary data: Under Exploratory Research, Secondary Data will be collected from among the following:

  HRM Journals, Text books, Journal on Labour relations, Websites and Newspaper Articles and other Published Materials.

Data Analysis:

Cross Tabulation, Graphs, charts, Percentages and other suitable Statistical Tools such as Chi Square may be used for Analysis

LIMITATIONS OF THE STUDY:

    1. The study will be undertaken from among respondents residing in Mumbai city only.
    2. The Study will be undertaken for a period of 40-50 days
    3. The sample size is Limited to 100 only.
    4. The opinion of the Respondents may change during post Research period

DIRECTIONS FOR FURTHER RESEARCH

The compensation level decision may be considered the most important one for individuals. In terms   of both employee attraction and cost considerations, it is often considered by most managers as a primary consideration. Hence, this research has huge future scope to extend the benefits of Compensation to the Bank employees. The Banking Companies by adopting suitable Compensation Management practices will help the employees to be motivated to perform better.