Pay, Allowances And Compensation At An Organization

Pay, Allowances and Compensation in an Organization INTRODUCTION In this study with respect to Pay, Allowances and Compensation of an organization, the compensation and benefits given by Indian Oil Corporation Ltd. to its employees has been taken for the study as it is highest ranked Indian corporate in the prestigious Fortune Global 500 listing companies. Indian Oil Corporation Limited is the country s flagship national oil company, with business interest straddling the entire hydrocarbon value chain - exploration production of crude oil and gas, refining, pipeline transportation and marketing of petroleum products, natural gas and petrochemicals. Indian Oil and its subsidiaries enjoy a dominant share of national refining capacity, pipeline capacity in the downstream sector and petroleum products market. Indian Oil has a strong workforce of over 34,000 employees which has been instrumental in meeting India s energy demands for more than five decades now. At IndianOil operations are strategically structured along the verticals - Refineries, Pipelines, Marketing, RD centre and Business Development - Exploration Production of oil and gas, Petrochemicals and Natural Gas. One of its obligations towards the employees is to develop their capabilities and facilitate their advancement through appropriate training and career planning. To also have a fair dealings with recognized representatives of employees in pursuance of healthy industrial relations practices andShow MoreRelatedCompensation For An Organization s Mission Statement1375 Words   |  6 PagesTotal Compensation in the Army Compensation is a critical aspect of every organization and appropriate consideration and strategic planning must be conducted in regards to compensation in order to ensure success of the organization’s mission statement. 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