Hello everyone,
I need to submit a report on the wage policy and structure of a company. Could you please help me out? It's urgent, so I would appreciate your valuable and timely inputs.
Regards,
Gaurav Goel
You can reach me via email at gauravgoelonline@gmail.com.
From India, Delhi
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5I need to submit a report on the wage policy and structure of a company. Could you please help me out? It's urgent, so I would appreciate your valuable and timely inputs.
Regards,
Gaurav Goel
You can reach me via email at gauravgoelonline@gmail.com.
From India, Delhi
Acknowledge(0)Amend(0)
Understanding Wage Policy
A Wage Policy is a corporate statement about the company's outlook and direction on all matters pertaining to compensation and benefits. Hence, when a company states that it wants to be among the top 10 in compensation and benefits, it will benchmark its compensation and benefits with the top 10 companies in a given area and strive to be competitive or at par with them.
When a company's wage policy states that it will pay competitively within the market rates, it means that the company will benchmark with the prevailing median market rates in their industry or area/country of operation.
Designing the Salary Structure
The design of the Salary Structure would follow from the Wage Policy. By salary structure, I mean the salary ranges adopted by organizations on a per Job Grade/Band basis.
Regards,
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, especially in Asia, the Middle East, Africa, and the Pacific Region)
From Philippines, Parañaque
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A Wage Policy is a corporate statement about the company's outlook and direction on all matters pertaining to compensation and benefits. Hence, when a company states that it wants to be among the top 10 in compensation and benefits, it will benchmark its compensation and benefits with the top 10 companies in a given area and strive to be competitive or at par with them.
When a company's wage policy states that it will pay competitively within the market rates, it means that the company will benchmark with the prevailing median market rates in their industry or area/country of operation.
Designing the Salary Structure
The design of the Salary Structure would follow from the Wage Policy. By salary structure, I mean the salary ranges adopted by organizations on a per Job Grade/Band basis.
Regards,
Ed Llarena, Jr.
Managing Partner
Emilla Consulting
(helps improve corporate governance worldwide, especially in Asia, the Middle East, Africa, and the Pacific Region)
From Philippines, Parañaque
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Salary Structure Policy ().xls
Creating a Competitive Salary Structure.doc
Compensation Structure.ppt