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Chrm Message From: vijayraj Total Posts: 41 Join Date: 15/11/2006
Rank: Executive Post Date: 13/02/2007 10:39:32 Points: 205 Location: United States

Dear colleagues,

Compensation Benchmarking is playing a vital rol in setting up good salary packages that needs organizstion to retain employee with longer time with the organizations. Can any one help me out in details on the following issues : Compensation & Benefits practices -->

1. Industry benchmarking on salary structures
2. Market trends on compensation, ESOP, variables, perks, etc.
3. CTC breakup and tax friendliness

How to do the above and to implement ?

Awaiting for your responses..

Regards,

vijayraj

Chrm Message From: Mathews Total Posts: 30 Join Date: 15/11/2006  
Rank: Executive Post Date: 13/02/2007 10:41:57 Points: 150 Location: United States

It is not that you benchmark the salary package for all the same. When company earns profits it is that they are hike your salary to 20-40% and when the company earns a loss are they reducing the salary of yours. The salary of all the individuals should match as per current indian Economic rate of index. No company is thinking of what is Current Economic rate of index and cost of living and other expenses which the employees are recurring. If you have any problem of current salary you can look up in www.salaryexpert.com . It has a section called salary calculator for all the countries and it is free to claculate. It has details of various designation, country and then you calculate.

Mathews

Chrm Message From: ayeshaa Total Posts: 36 Join Date: 15/11/2006  
Rank: Executive Post Date: 13/02/2007 10:44:00 Points: 180 Location: United States


Hello Vijay,
In my opinion, this may help you to understand the pulse of market conditions etc. However, there is no scientific methods to resolve the issue. There are few professional consultants can help you on this. Also, this can be referred to any such consultants for underaking your assignment. The bench marking of salary package is to be matched with similar kind of industry or allied business groups.

Always, this has to be designed keeping in view of organisation's growth, expansion plans, performance etc.

Warm Regards

Ayesha

 
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