Edwardain2000
Manager Human Resources
Htdesai
Sr.exe-hr
Sivakumar1611
Recruitment, E.s.i. & P.f
Sumitsaxenagist
Human Resources
Rachgera
Recruitment
Amla
Hr Executive
Anshulansh
Sr. Analyst-hr
Nitu P
Hr Executive
+1 Other

Hi friends,
With the current recession times, it is very important for all of us to be updated on how is the salary structure designed in tough times.What are the current market trends.I think we should discuss what our respective companies are doing and keep us all updated regarding the new compensation and benefit trends, what do you all say..
19th March 2009 From India, Pune
Hi gys,

see the salary structure in the current market trends is almost strange for the new employee who is being hired presently. And it also reflect in the salary structure of previous or current employees as every sector is trying to slow down the cost of man power and where upto 10 - 25 % salary diductions are on going trends if someone want to stay employed. These all because of low demand of products or services all around the world.

Apart from the above, some companies are making changes into the leave and travel policies to compensate the cost of manpower as much as possible. As an employee, we dont have any option left for us except acting according to the management if we want to stay employed or say we have gone back into two years back position if we take the example of current salary cut.

Any way we have to cooperate in this situation with this hope that job market will soon change its trands positevely and we will get back what we deserve.

Thats all from my side. Let other say abt this.

Thanks & Regards,

c. Bhushan Sharma
19th March 2009 From India, Nagpur
Hi, Can anyone guide me with a source to find what the salary range in current market can be for Dotnet & PHP & PB for exp ranging from 0,1,2,3,4,5 +? Regards, Mary
19th March 2009 From India, Bangalore
Hi, Can anyone guide me with a source to find what the salary range in current market can be for Dotnet & PHP & PB for exp ranging from 0,1,2,3,4,5 +? Regards, Mary
19th March 2009 From India, Bangalore
Hi,
I agree with Mr. Bhushan Sharma, many companies are going for salary reduction. We in our company done the reduction as far as possible in the taxable allowances, so even the salary is reduced, the tax effect is also reduced.
19th March 2009 From India, Mumbai
Thanks Bhushan for your feedback, yes i do agree that we have to follow with what mgmt decides,but its always good to know about what's happening around us, what r other people doing.So please guys do share about what measure is your company taking regarding compensation and benefits.
19th March 2009 From India, Pune
Ok Here is what I think,

Till a few months back we were living in a very employee and service / consumer centric envioronment. Which meant that the organizations were doing a lot of things just to attract and retain talent. One of the most common things was giving non taxable components to the employees as a part of their salaries.

For Example: If an employee gets home 40000 per month, then the organization may give him a structure in which almost 20 - 30 % is paid out as reimbursements, like conveyance reimbursement, medical reimbursement, phone reimbursement, sodex ho vouchers etc. So out of 40000, the employee was give approx 8 - 10 k per month as non-taxable salary. The employee doesnt pay tax on this, however the organization pays 6.78% of "Fringe Benefit Taz"to the governement. So for this case the organization pays INR 678 per motnh to the governement as FBT

Imagine big companies having 500 such employees. They were paying huge amounts FBT just to keep the employees happy.

But now the situation is changed and the companies dont want to do it any more. This is another measure of cutting costs of the organization.

Your Views???

Thanks
19th March 2009 From India, Faridabad
The question what you posed to all is good, and we have to think on this issue regarding designing of salary structure as a H.R. professionals and about this my opinion is those who already existed in the company we can cut the fringe benefits like telephone, car and other FBT we need cut and for the new joinees we need design new salary structure
19th March 2009 From India, Hyderabad
The question what you posed to all is good, and we have to think on this issue regarding designing of salary structure as a H.R. professionals and about this my opinion is those who already existed in the company we can cut the fringe benefits like telephone, car and other FBT we need cut and for the new joinees we need design new salary structure and if the company is providing any meals to the employees we just charge 50% from the employees not only this and we can cut so many costs the main thing we have to do at the time of joinning only we need to tell all these things ok


19th March 2009 From India, Hyderabad
Hi,
Friends this is the most lucrative topic to discuss about.
We as an IT - solution provider company are follwing the trend of increasing the variable part of salary. As earlier, we used to follow the structure of 80 - 20, means 80 percent salary and 20 percent variable but now as per our industry scenerio's we have amended to 70 - 30 percent.
We are also keeping a check over the travel and conveyance, to which we have abated.
I percieve that is all i can contribute upon so would welcome some valuable suggestion from the members of HRcite.
Regards,
Rachna:)
20th March 2009 From India, Delhi
Hello Everyone,
Our company is also having a salary cut and we are being cut 20% on basic and the cut is treated as Leave Without Pay. Our HR Head and Accounts Head is new and I just want to know one thing- Should the cut be treated as LWP or as Loss of Pay? When an employee leaves, the salary slip shows LWP, which might tell the prospective employer that this particular employee is irregular. How do we treat this situation?
Rgds
Amla
21st March 2009 From India, Hyderabad
hi all
Salary structure can be done as per 0 to 1 year experience
1 to 3
3 to 5
5 to 7
salaries can be fixed depending upon the skill ,education ,experience ( no of yrs)
starting from gROSS 3800 + CTC to 50000
26th March 2009 From India, Hyderabad
Dear All,

Nice thought in @ right time.

Probably this time is very important for us as HR professionals. In my opinion, one way we have to get the cost to compny as minimum as possible at the same time we have to look into employee perspective where in this current scenario they are not goining to get big hikes but at least expect a tax friendly structure.

So if we remove the reimbursement components, they will have most of the income as taxable and the effective hike on thier paycheques are ineffective.

Your thoughts on the same are welcome.

Regards,

Anshul Saxena
27th May 2009 From India, Delhi
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses for career growth from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™