Employee Compensation for Delayed Salaries: How Do You Determine the Right Amount?

We give compensation based on how many years an employee has worked. For example, Karthick has worked for the past 5 years in an IT company. The software company gave him 10 lakhs as compensation for a delayed salary payment.

Whatever compensation you give your employees is not only limited to their experience, but once employed, they need to enhance their level of contribution in such a competitive market, especially in the IT industry. To be the best competitor, ensure that the remuneration you offer is top-notch.

Thank you.

By compensation, do you mean salary? There is no standard criterion. You need to check the market rate: how much others are paying and pay similar amounts. You can also check the internet for recent updates on compensation surveys in a specific industry. We cross-check salary levels with friends we have in other industries and companies to see how far we are from market rates.