Hello everyone,
I need to submit a report on the wage policy and structure of a company. Could you please help me out? It's urgent, so I would appreciate your valuable and timely inputs.
Regards,
Gaurav Goel
You can reach me via email at gauravgoelonline@gmail.com.
From India, Delhi
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5I need to submit a report on the wage policy and structure of a company. Could you please help me out? It's urgent, so I would appreciate your valuable and timely inputs.
Regards,
Gaurav Goel
You can reach me via email at gauravgoelonline@gmail.com.
From India, Delhi
Acknowledge(0)Amend(0)
Hi!
A Wage Policy is a corporate statement about the company's outlook and direction on all matters pertaining to compensation and benefits. Hence, when a company states that it wants to be among the top 10 in compensation and benefits, then it will benchmark its compensation and benefits with the top 10 companies in a given area and strive to be competitive or at par with them.
When a company's wage policy states that it will pay competitively within the market rates, it means that the company will benchmark with the prevailing median market rates in their industry or area/country of operation.
The design of the Salary Structure would follow from the Wage Policy. By salary structure, I mean the salary ranges adopted by organizations on a per Job Grade/Band basis.
Best regards from the beautiful city of Riyadh, KSA.
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, especially in Asia, the Middle East, Africa, and the Pacific Region)
From Philippines, Parañaque
Acknowledge(0)Amend(0)
A Wage Policy is a corporate statement about the company's outlook and direction on all matters pertaining to compensation and benefits. Hence, when a company states that it wants to be among the top 10 in compensation and benefits, then it will benchmark its compensation and benefits with the top 10 companies in a given area and strive to be competitive or at par with them.
When a company's wage policy states that it will pay competitively within the market rates, it means that the company will benchmark with the prevailing median market rates in their industry or area/country of operation.
The design of the Salary Structure would follow from the Wage Policy. By salary structure, I mean the salary ranges adopted by organizations on a per Job Grade/Band basis.
Best regards from the beautiful city of Riyadh, KSA.
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, especially in Asia, the Middle East, Africa, and the Pacific Region)
From Philippines, Parañaque
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Salary Structure Policy ().xls
Creating a Competitive Salary Structure.doc
Compensation Structure.ppt