Hi, I have recently joined an IT company and have been tasked with designing the salary structure for PHP developers, including freshers, senior developers, and team leads. The current salary ranges are up to $8000/month for freshers, $8000-$15000/month for senior developers, and no salary limit for team leads. I need to design their salaries in a way that allows for further increments after a 6-month appraisal period, aiming to both retain and motivate them. How should I approach this to ensure the best outcomes for the team members?
From India, Chandigarh
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2From India, Chandigarh
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You may fix only one salary fitment for all levels or may fix it according to their salary slab. For example, if the gross pay is $8000 per month, the breakdown could be as follows:
- Basic: 40% of gross
- HRA: 30% of gross
- Conveyance: 20% of gross
- Special allowance: 10% of gross
You can create a formulated sheet based on this structure. When it comes to their increments, you may determine the percentage based on their Key Result Areas (KRA). For instance:
- Work Quality: 35%
- Productivity: 30%
- Dedication, attitude, time in-out, etc.
Please let me know if you need any further clarification or assistance with this.
From India, Pune
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- Basic: 40% of gross
- HRA: 30% of gross
- Conveyance: 20% of gross
- Special allowance: 10% of gross
You can create a formulated sheet based on this structure. When it comes to their increments, you may determine the percentage based on their Key Result Areas (KRA). For instance:
- Work Quality: 35%
- Productivity: 30%
- Dedication, attitude, time in-out, etc.
Please let me know if you need any further clarification or assistance with this.
From India, Pune
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Creating a Competitive Salary Structure.doc
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