Hello everyone, Please anyone tell me how to calculate compensation for employee at different level. Regards vicky
From India, Mumbai
5From India, Mumbai
Hi vicky,
You need to be more specific with your question.
Compensations depend on various factors like:
1. Industry 2. Experience
3. Qualifications
4. Nature of Job
5. Knowledge - Skills - Abilities required for a job
5. Organisation Structure of your company - Manpower Planning, Budgets etc.
5. Place of posting
6. Special requirements, if any.......
You need to establish the above and do a study called Job evaluation & then fix up compensations. These jobs are usually done by consultants specialised in this field. However, Market surveys maybe available on the net, but the information could be out-dated.
Also most established companies have a defined grade & / or a cadre structure and a salary reckoner per grade which usually covers the above factors as a backup. But also, note that nowadays, most employers are looking at having a very lean organisation hierarchy and are limiting the same to not more than 4 or 5 levels. Both the structures have their own advantages and disadvantages.
It is a major subject that needs a lot of dedicated study.
Regards
Sujata
email:sujata.swamy@pidilite.com
You need to be more specific with your question.
Compensations depend on various factors like:
1. Industry 2. Experience
3. Qualifications
4. Nature of Job
5. Knowledge - Skills - Abilities required for a job
5. Organisation Structure of your company - Manpower Planning, Budgets etc.
5. Place of posting
6. Special requirements, if any.......
You need to establish the above and do a study called Job evaluation & then fix up compensations. These jobs are usually done by consultants specialised in this field. However, Market surveys maybe available on the net, but the information could be out-dated.
Also most established companies have a defined grade & / or a cadre structure and a salary reckoner per grade which usually covers the above factors as a backup. But also, note that nowadays, most employers are looking at having a very lean organisation hierarchy and are limiting the same to not more than 4 or 5 levels. Both the structures have their own advantages and disadvantages.
It is a major subject that needs a lot of dedicated study.
Regards
Sujata
email:sujata.swamy@pidilite.com
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Published_draft _rules_on Employees_ compensation 3.6.2020.pdf
Compensation Benchmarking Survey.doc