namratavc Started The Discussion:
I am involved with implementation of Cafeteria Approach of Compensation. I have to prepare policy / guidelines for the same.
Please share what are the necessary things that need to be address or a sample policy of any organization (reputed).
Thanks in advance.
Nowadays, companies have moved from the earlier fixed salary components approach to the CTC (cost to the company) concept as far as compensation is concerned. This leaves the employee with the freedom to structure his pay packet, depending on what stage of his career he or she is at. It also helps employees meet financial aspirations. A win-win situation for both the employee and the employer!
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