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Write a 10 pages paper on compensation management system at tata consultancy service.
Write a 10 pages paper on compensation management system at tata consultancy service. Performance management can focus on the performance of the organization, a department, processes to build a product or service, employees, etc.,” as reported by McNamara (1997-2006).
creation of shareholder wealth over time” reports Stewart (2006). TCS uses EVA as a tool to measure the value that has been created by the company within a certain amount of time. In other words, TCS’s monetary value at the beginning of a time period is subtracted from the monetary value at the end of that period in order to come up with the EVA. The workforce’s pay and bonuses were then based on this EVA. This created a close relationship between work performance and pay.
Most of TSA’s workforce scope of EVA, only a few were able to benefit from Employee Stock Ownership Plans (ESOPs). Retirement Terminology (n.d.) states that an ESOP “gives employees the opportunity to invest in the potential growth of their employer. If the company prospers, the stock will follow suit. But, stock can decline if the fortunes of the company take a turn for the worse. Also, employees can become over-invested, and be vulnerable to inadequate portfolio diversity.”
From management on down, all benefited from the advantages of EVA. Employees realized that they played a part in increasing the EVA of the unit and the organization. They also realized the importance of their responsibilities as there was a close link between performance and pay. .
