Title: DESIGNING A COMPENSATION SYSTEM AT PT. TERMINAL TELUK LAMONG SURABAYA
Authors: ARIF BUDIMAN
Item Type: Thesis
Abstract
Compensation is a tool used by companies to attract, motivate, and retain talent amidst increasingly fierce business competition. Compensation provided to employees consists of financial and non-financial compensation, the provision of which must have a logical and rational basis. The compensation system designed in a company must be linked to the company's vision, mission, goals, and strategy, as well as a balance between company profits and company costs incurred for the needs of life and the expectations of employees. This study aims to design a compensation system that is in accordance with the vision, mission, goals, and strategy of PT. Terminal Teluk Lamong and explains the various stages in developing a compensation system. The research stages began with interviews with key informants (top management), then continued with the preparation of the compensation system. The preparation of the compensation system begins with job analysis, job evaluation using the Hay method, external compensation surveys, job grading and basic salary structure, additional benefits and incentives/bonuses. The benefits provided include position allowances, meal allowances, transportation allowances, communication allowances, and car allowances. Additional benefits provided include overtime pay, paid leave, BPJS Employment (JKK, JKM and JHT), personal and family life insurance. The compensation system designed for the needs of PT. Terminal Teluk Lamong has fulfilled strategic elements by aligning the company's vision, mission, goals and strategies in general. The compensation system also pays attention to internal and external fairness, internal fairness is achieved by using the Hay Job Evaluation method in the job evaluation process, while external fairness is achieved by conducting compensation surveys in the industry in general and the port industry.
Keywords: Compensation Strategic:, Point Factor Method, Hay Job Evaluation Method