KK!HRIn this type of situation, one step could be revision of scales if it is due and could be considered. It is stated that the salary levels are market standard and so there may not be much scope. But any increase in salary is only extra burden on long term basis and its motivational effect is little and is without enduring gains.
As one solution I would recommend is to initiate an incentive plan so that the employees are rewarded handsomely out of the extra earning from current level. As to the senior employees, you can build in a factor which would be more generous to the more experienced than the fresh ones recruited. As the incentive is linked to productivity & efficiency, the company is getting extra returns and there will be no extra burden on it. As to the senior employees, you can build in a factor which would be more generous to the more experienced than the fresh ones recruited. I know a practical situation where the efficiency increased by approx. 25% when the incentive scheme was revised to match the employee expectations.
From India, Mumbai
Imtiyaj AhmedThanks a lot for your valuable opinion.
From Bangladesh, Dhaka