hi..
I would like to give u a generic view of the compensation planning, survey and determination.
Different companies' have different Compensation Planning periods, some do annually and others after 2 or so years. What typically happens is that every company has tied up with one consultancy, which does the compensation benchmarking for them. They collate the industry data related to compensation structure of each and every possible in the organizations. they also give mean and median value of the industry to their client company.
Now, after having the desired data from the consultant partner, cpmpany do start pay planning process. the Comp n Ben team does a proper expectation survey or internal compensation survey with the help of line HRs. hence they get the compa - ratio. The compe n ben depaertment des the regression analysis and based on the budget available, they recommend the hike in the salary. The recommendation further go to Organization's stretegic team and they in turn after reviewing, approve the hike. This approval also includes the incentives and bonus part of the Reward.
do let me know if u some other points to ask..
thanx n regards:
suryakant