Project On Compensation Band - Doc Download

Hello everyone,
Good morning.
I am HR intern doing MBA and as a part of my curriculum i am supposed to do an Project. And as a part of my intrest i wanted to do something on Compensation and i have chosen Project on Compensation band for my organisation. So i am unaware about how to go about this project and what information do you people need to help me. Looking forward to learn a lot.
Sundesh Murthy
+91-9620127284

Greetings,

I understand you must have received guidelines on the project from your faculties. Here's my suggestions for you to consider:

• Define compensation structure, philosophy in the industry your firm belongs to.
• Identify broadly how banding is done within your industry.
• Drill down to your firm and define the several levels connecting how compensation is drawn for each one of them.
• Define the justifications and rationalizations in mapping the compensations.
• Map and review the existing band in your firm.
• Identify few areas for improvement and suggest solutions for it

Here's few pointers:

• Banding Concept- Bands are used to group jobs across the organization similar in scope and complexity, organizational impact, degree of independent judgment and discretion, knowledge and skill expertise
• Level- It is an indicator used to identify the level of the employee, which will be linked to complexity of the job/role
• Designation / Titles-It is the title that identifies the role of the individual within the band. For employees in band 2 and 1 there will be a basket of market facing designations which can be used based on the leader’s approval
• Common Compensation Structure & Policies- An effective and uniform compensation structure is recommended to attract, retain and motivate employees.

Please consider Archna's post in this link.Salary bands
You may consider to view the salary designations and bands as attached in the document, I found in this community.

Regards,
(Cite Contribution)

thanks a lot (Cite Contribution), bt a i have a small query regardind this salary bands, which means according to which year you posted this bands
thanking you

Dear Yashwant,
This banding structure is a result of a Mercer project while building parity, when two firms with different structures were merged. The data over the industry was researched to find the best fit.
The initiative dates back to 2007, but the structure hasn't changed much in the firm, baring few tweaks, here and there. The document makes a point of reference for those who are working on it currently. Rest, remains to be researched.
Please consider sharing your views and understanding to the current structure. Looking forward to hear from you.

thanx once again for your concern .................................................. ..............................

Designations and salaries are determined on the basis of nature of industries. Heavy industries are paying higher salaries as compared to small and medium scale industries.
Vilas