Remuneration / Bonus Policy - CiteHR
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Dear all friends,
it is an honor to join CiteHR. i work as a HR manager, and my company asked me to make a remuneration policy for the employees. can any one please help me out with this.
thanks everybody

A fixed base salary, set at a level aimed at attracting and retaining executives with professional and personal competences required to drive the Company's performance.

- Short-term incentives, based on the achievement of a number of individual, pre-defined financial and strategic business targets recommended by the Committee and approved by the Board of Directors and can under normal circumstances not exceed 25% of the fixed base salary.

- Long-term incentives in the form of stock options, promoting a balance between short-term achievements and long-term thinking. However the Directors should not participate in the stock options.

- Pension contributions, made in accordance with applicable laws and employment agreements.

- Severance payments in accordance with termination clauses in employment agreements. Severance payments shall comply with local legal framework.

Reward policies

Attract and retain: Remuneration packages are designed to attract high-calibre executives in a competitive global market and remunerate executives fairly and responsibly. remuneration shall be competitive and based on the individual responsibilities and performance.

Motivate and reward: Remuneration is designed to motivate delivery of our key business strategies, create a strong performance-orientated environment and reward achievement of meaningful targets over the short- and long-term.

The principal terms of non-monetary benefits: The Executives will be entitled to customary non-monetary benefits such as company cars and company health care, telephone etc. In addition thereto in individual cases company housing and other benefits may also be offered.

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