Hi, Need to design our salary structure. Kindly help me allocate the fixed and variable(quaterly and annually)part of annual CTC. regards, Pranati
From India, Delhi
From India, Delhi
Hi,
You can structure your salary as 80 - 20 i.e 80% of the gross will be fixed and 20% will be variable. for marketing employees you can structure as 60- 40 . 60% as the fixed and 40% as variable. for variable you can set target.
regarding the payment you can pay the variable on quarterly bases on achievements of their target. you can structure you salary as per the financial year or according to the date of joining.
Thanks,
Uttama
From India, Mumbai
2You can structure your salary as 80 - 20 i.e 80% of the gross will be fixed and 20% will be variable. for marketing employees you can structure as 60- 40 . 60% as the fixed and 40% as variable. for variable you can set target.
regarding the payment you can pay the variable on quarterly bases on achievements of their target. you can structure you salary as per the financial year or according to the date of joining.
Thanks,
Uttama
From India, Mumbai
Dear Uttama,
Thanks a ton for your reply.
As of now our varible structure is 70-30 and 80-20.
The Variable is divided into quaterly and annual component. The problem is that many times it is difficult to explain the candidates the stucture as they feel that it should be over and above their annual CTC.
Regards,
Pranati
From India, Delhi
Thanks a ton for your reply.
As of now our varible structure is 70-30 and 80-20.
The Variable is divided into quaterly and annual component. The problem is that many times it is difficult to explain the candidates the stucture as they feel that it should be over and above their annual CTC.
Regards,
Pranati
From India, Delhi
Hi Pranati,
You are most welcome.
Today most of the organization have this salary structure of fixed and variable. but if you find candidate who is new to this structure explain him the structure in advance, because if he is through in the other rounds and is selected then you will have a problem , because the candidate will say he is not aware of the structure and he would not be interested in the offer. Therefore explain him that your organization has the salary structure as fixed and variable , fixed is paid in the monthly form and the variable part is paid on the quarterly or annual bases on your performance base. be very specify that the variable part will be based on your performance otherwise he will feel that the variable amount will be paid full by default after completion of the quarter.
Hope this will help you,
Thanks,
Uttama
From India, Mumbai
You are most welcome.
Today most of the organization have this salary structure of fixed and variable. but if you find candidate who is new to this structure explain him the structure in advance, because if he is through in the other rounds and is selected then you will have a problem , because the candidate will say he is not aware of the structure and he would not be interested in the offer. Therefore explain him that your organization has the salary structure as fixed and variable , fixed is paid in the monthly form and the variable part is paid on the quarterly or annual bases on your performance base. be very specify that the variable part will be based on your performance otherwise he will feel that the variable amount will be paid full by default after completion of the quarter.
Hope this will help you,
Thanks,
Uttama
From India, Mumbai
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VARIABLE PAY.doc
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