Compensation and Benefit Management in Abu Dhabi Commercial Bank
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This presentation discusses the compensation and benefit management in Abu Dhabi Commercial Bank (ADCB), including the pay model, strategic perspectives, job analysis, compensation of special groups, and gap analysis. It also provides recommendations to address the gaps in the compensation and benefit system of the organization.
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COMPENSATION AND BENEFIT MANAGEMENT
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ABU DHABI COMMERCIAL BANK Abu Dhabi Commercial Bank is also known as ADCB, it is one of the leading banks in the banking sector of United Arab Emirates (UAE) (Adcb.com.2018). ADCN is the third largest bank in UAE and it is second largest bank in UAE in terms of assets.
COMPENSATION AND BENEFITS PAY MODEL STRATEGIC PERSPECTIVES INTERNAL ALIGNMENT JOB ANALYSIS COMPETITIVENESS
COMPENSATION AND BENEFITS(CONTD.) PAY LEVELS, MIX AND PAY STRUCTURE PERFORMANCE APPRAISAL SYSTEMS BENEFIT DETERMINATION PROCESS COMPENSATION OF SPECIAL GROUPS
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PAY MODEL IN ADCB In the pay model of any organization there are four policies, which are used for determination of pay of the employee of the organization. It includes the internal alignment, external competitiveness, employee contributions and management of the pay systems. ADCB utilizes the internal alignment and external competitiveness.
STRATEGIC PERSPECTIVES OF COMPENSATION The strategic perspective of compensation that are followed by Abu Dhabi Commercial Bank is divided in two categories. It includes the perspective of organization and it also includes perspective of employees
JOB ANALYSIS OF ADCB The job analysis of the bank, ADCB includes the following key factors: Surveying the job obligations of the present representatives Examining the obligations of the work ,assignments and obligations that should be proficient by the representatives filling the position Looking into and offering to different organizations that have comparable jobs
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COMPENSATION OF SPECIAL GROUPS The special groups in the bank, ADCB includes people who arestrategically important to the organization. The bank, ADCB provides the special group people special treatment with add-on packages that are not received by other employees of the bank . Some of the compensation that are provide to the corporate directors includes annual retainer, attendance fess, fees for the participation on subcommittees (Michelson, Grant, Ad van Iterson and Kathryn Waddington 2014).
GAP ANALYSIS Mismatches between available needs and employee benefits (McKeeby, Charles and Randall Nunley 2013). Not using reliable longitudinal metrics
RECOMMENDATIONS Create a single ,unified system of paid leave for the WRS-eligible employees of the ADCB bank Employee benefits that are offered should be consistent across the category of the employees Benefit education and communication should be improved so that there is no confusion so that the the employees would be able to maximize the benefits . Increase long term opportunities for the employee engagement .
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CONCLUSION After analyzing the compensation and benefits of ADCB ,it has been identifiedthat the compensation structure of the organization is well organized and structured However, the presentation identifies that there aresome gaps in the compensation and benefits system of the organization and proper measures can be taken to address the gaps.
REFERENCES Adcb.com. (2018).About. [online] Available at: https://www.adcb.com/about/index.aspx [Accessed 7 Oct. 2018]. Alagaraja, Meera, "Mobilizing Organizational Alignment Through Strategic Human Resource Development" (2013) 16(1)Human Resource Development International McKeeby, Charles and Randall Nunley, "Employee Benefits: The Age Of Accountability" (2013) 41(5)Compensation & Benefits Review Michelson, Grant, Ad van Iterson and Kathryn Waddington, "Special Issue On Gossip In/Around Organizations" (2014) 33(4)Group & Organization Management