Title: DESIGNING A COMPENSATION SYSTEM AT PT. TELUK LAMONG TERMINAL SURABAYA
Author: ARIF BUDIMAN
Item Type: Thesis (Thesis)
Abstract
Compensation is a tool used by companies to attract, motivate and retain talents amidst increasingly fierce competition in the business world. Compensation given to employees consists of financial compensation and non-financial compensation, the provision of which must have a logical and rational basis. The compensation system designed in a company must be connected to the company's vision, mission, goals and strategy, as well as a balance between company profits and company costs incurred for the living needs and hopes of employees. This research aims to design a compensation system that is in accordance with the vision, mission, goals and strategies of PT. Teluk Lamong Terminal and explains the various stages in developing a compensation system. The research stages began with interviews with key sources (top management), then continued with preparing a compensation system. Compilation of the compensation system starts from job analysis, job evaluation using the Hay method, external compensation survey, preparation of job grading and basic salary structure, additional benefits and incentives/bonuses. The allowances 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. Compensation system prepared for the needs of PT. Teluk Lamong Terminal has fulfilled the strategic elements by aligning the company's vision, mission, goals and strategy in general. The compensation system that is prepared also pays attention to internal and external justice. Internal justice is achieved by using the Hay Job Evaluation method in the job evaluation process, while external justice 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
