 Compensation
Dear Amit/Colleagues,
It should be noted from the onset that there have been a few postings on this issue-Compensation, however I could just re-cap for the purpose of refreshing our memory or add something new...
Firstly compensation has to be fair/just-that is in a case of category/status within the same Company, no dicrminatory packages based on nepotism, gender issues, favouritism.
Secondly it has to be on the average industry benchmarked to avoid massive labour/employee turnover in the private Company.
Thirdly the compensation administration itself has to be industry or professionally component oriented, for example-dressing allowance for the marketing team or TV presenter,
In addition to be fair to Management it has to be payable apart from the issue of industry benchmarking-individual private Company should be able to sustain whatever they put forward as compensation-monthly and promptly too.
Above all in summary, there exists different subheads that compensation falls:
Basic Salary
Housing Allowance
Medical Allowance
Lunch Allowance
Welfare Allowance
Transport Allowance
Drivers' Allowance
Telephone Allowance
Dressing Allowance
Entertainment Allowance
Accident-Free Allowance
Leave/Holiday Allowance
Exhibition Allowance etal
The list can go on and on, but we should note that some are indutry related while some are career and status based compensation.
Thanks 
__________________
Afolabi Ajayi
HR/Mktg Consultant
Lagos Nigeria
234 802 313 7897
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