Compensation - Lecture
Compensation - Lecture
or
TOTAL REWARDS
From the simplest barter system of centuries past to
the complex incentive formulas of today, the
organizations’ basic premise has remained
Attract
unchanged: provide value to the organization and
the organization will provide value to you – a simple
quid pro quo.
HR
Retain Engage
Strategy
Develop
Total Remuneration:
Total Cash Compensation
Total Benefits
What we will do?
Components:
Ideally 8-10 participants
List of surveyed jobs
Market range parameters at percentile levels
Methodology:
Review of job descriptions to determine similarity of
tasks
Review of salary scales and organization chart
Determination of internal market dynamics and
competitive salaries to ascertain actual market rates
Individual Report
What you will get?
Survey Findings:
Average Data: Total Cash Compensation, Total Benefits, Total
Remuneration
Surveyed Jobs Positioning (individual & grade wise)
Percentiles:
Point in range of values
25th, 50th and 75th
Market Positioning
Complete Confidentiality
Philosophy