Hello Everyone, My name is Yogeshwari, and I work in HR. We are currently in the process of determining salaries based on the grades of our employees as we are a start-up company in the retail industry. I would appreciate your assistance with creating the grading structure and setting appropriate salary levels.
Thank you in advance.
From India, Chennai
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Thank you in advance.
From India, Chennai
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If the organization has already decided on different grades within the organization, then for fixing remuneration, you may follow the following process:
Check the remuneration structure of a similar organization in the locality.
1.0 Check the remuneration structure of a similar organization in the locality.
Decide on a policy regarding remuneration.
2.0 Decide on a policy regarding remuneration – 50th percentile, 60th percentile, 75th percentile of the market, or below/above.
Understand the organization's capacity to pay.
3.0 Before making any final decisions, please understand the organization's capacity to pay.
Consider the total compensation package.
4.0 When considering the remuneration package, take into account the total compensation at the CTC level, including cash, non-cash, and all perks.
S K Bandyopadhyay (WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
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367Check the remuneration structure of a similar organization in the locality.
1.0 Check the remuneration structure of a similar organization in the locality.
Decide on a policy regarding remuneration.
2.0 Decide on a policy regarding remuneration – 50th percentile, 60th percentile, 75th percentile of the market, or below/above.
Understand the organization's capacity to pay.
3.0 Before making any final decisions, please understand the organization's capacity to pay.
Consider the total compensation package.
4.0 When considering the remuneration package, take into account the total compensation at the CTC level, including cash, non-cash, and all perks.
S K Bandyopadhyay (WB, Howrah)
CEO-USD HR Solutions
From India, New Delhi
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Creating a Competitive Salary Structure.doc
Salary Structure.zip