This research paper describes the employee compensation and incentive strategies adopted by standalone restaurants in Jaipur city. Compensation, reward and incentives have positive impact on both employees and employers. The study shows that when employees recognized for performance and productivity, they have increased morale, job satisfaction and involvement in organizational performance; so, the employers experience shows greater increase in sales and profit with greater efficiency and an increase in productivity. Compensation and incentives are providing a positive and productive environment on work place. This research explains about the compensation and incentive strategies of standalone restaurant in Jaipur and how much they benefited to them. The research is conducted on 10 standalone restaurant of Jaipur city. Primary data was collected through questionnaire. Secondary data was collected from annual reports, internet etc. This research paper emphasizes on whether standalone restaurants in Jaipur do make use of compensation strategies and its benefits to the employers. The study is also explaining the upcoming new trends in compensation and incentive strategies.   
 
KEYWORDS: Compensation Strategies, Monetary and Non Monetary Incentives, New Trends.

Introduction

           Compensation plays a crucial role in any business organization. Among the assets of any organization, human assets has been most important factor. It is impossible to imagine a business process without man. So, its expects return from the business process like wages. An ideal compensation system will have positive impact on the efficiency and result produced by employees. It will encourage the employees to perform better and achieve the standard fixed and the other site organization are increase a single interest in retaining right talents. As organization continue to face mounting competitive pressures. They seek to do more with less and do it with very perfection.

Compensation

          Compensation is defined as the total amount of the monetary and non-monetary pay provided to employee by an employer in return for their services or performance. Essentially it's a combination of the value of employee's pay, vacation, bonuses, health insurance and any other perks like receive free lunches, free events and parking etc. Compensation is more than an employee's regular paid wages. It is a tool mainly used by management for a variety of purpose to further the existence of the organization. Compensation has two main components, direct and indirect financial payments or rewards payable to employees. Direct financial payments are in form of wages, salaries, incentives, commission and bonus. In other hand indirect payment in the form of financial benefits like employee paid insurance and vacation.