I have recently joined a new organisation where I have been asked to frame a compensation policy for white collar employees. Starting from preparing a band structure for different grades to increment and bonus, I have to factor everything. I have researched the site for getting some suggestions but have not found anything that would help me prepare the same. If anyone has worked on this then I would request to help me in providing certain guidelines or a format.
Looking forward to help from all members
From India, Bhubaneswar
. Compensation Policy or Structure consist of Scale of Pay in various Grades of Pay for Positions/ Tasks alloted to various Positions and takes into account, the Min Wages applicable in that Partcular Geographical Location/Place, the Capacity to Pay, the prevalent Wages/Salary around and keeping in Mind the Acedamic Qualification + Skills Set plus Hands-On Work Exp of Recruits
It is Higly Speci-to-an-Org Plan and Cut & Paste never Helps, insteadcause irrepairable damange
From India, Delhi
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