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Compensation & Benefits Practices

Last post February 13, 2007 10:44 AM by ayeshaa. 1 repiles.

February 13, 2007 10:39 AM 1
Total Posts: 41
Join Date: November 15, 2006
Rank: Executive
Post Date: February 13, 2007
Posts: 41
Location: United States

Compensation & Benefits Practices

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

February 13, 2007 10:412
Mathews
Total Posts: 30
Join Date: November 15, 2006
Rank: Executive
Post Date: February 13, 2007
Points: 150
Location: United States

Re: Compensation & Benefits Practices

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

February 13, 2007 10:443
ayeshaa
Total Posts: 36
Join Date: November 15, 2006
Rank: Executive
Post Date: February 13, 2007
Points: 180
Location: United States

Re: Compensation & Benefits Practices


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