WAGE POLICY AND STRUCTURE OF A COMPANY

HELLO EVERYONE,
I NEED TO SUBMIT A REPORT ON THE WAGE POLICY AND STRUCTURE OF A COMPANY... U PPL PLZ HELP ME OUT.... ITS URGENT SO PLZ GIVE UR VALUABLE N TIMELY INPUTS..
REGARDS
GAURAV GOEL
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Hi,every body,
i need to submit the assignment regarding below mentioned question any of u can help me ?

* Explain the major components of industrial wage structures in India. Discuss the salient features of the compensation system of the organization you are working in or any organization you are familiar with.?
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Hi!

A Wage Policy is a corporate statement about the company's outlook and direction on all matters pertaining to compensation and benefits. Hence, when a company states that it wants to be among the top 10 in compensation and benefits, then it will benchmark its compensation and benefits with the top 10 companies in a given area and strive to be competitive or at par with them.

When a company's wage policy states that it will pay competitively within the market rates, it means that the company will benchmark with the prevailing median market rates in their industry or area/ country of operation.

The design of the Salary Structure would follow from the Wage Policy. By salary structure, i mean the salary ranges adopted by organizations on a per Job Grade/ Band basis.

Best regards from the beautiful city of Riyadh, KSA.

Ed Llarena, Jr.

Managing Partner

Emilla Consulting

(helps improve corporate governance worldwide, esp in Asia, the Middle East, AFrica, and the Pacific Region)