Though the employees in many organisations, who were earlier used to getting substantial salary hikes, are unhappy about such a method of salary revision, it is seen that this a fair method of rewarding employees on the basis of their performance.
Needless to say, introduction of Performance Pay should be introduced only after ensuring that you have a fair and impartial Performance Appraisal process in place.
1st August 2007 From India, Mumbai
I agree with the new trend of Performance Pay.
Sorry that I have not incldd in my previous post..that performance pay component is also incldd in the salary structure.
Fine with it..
My query is say if I'm getting Basic as 2000 pm since Jan & now my appraisal has happened of 90% w.r.t CTC but my Basic remains to be same, though I'm getting good net salary.
Though it could be the psychology of many that basic should also be good in fig as it contributes part of it to EPF.
Now, Say I'm happy with the appraisal part, while unhappy with no changes in Basic... How can I take my stand now?
This is b'cos I read in one of the post on this learning site that basic pay also helps in assessing the skill sets.
I want some article or the practice that other growing IT cos are following..
Friends...Pls let me know whether the candidate is assessed on their basic pay w.r.t skill sets or on CTC....
1st August 2007 From India, Bangalore