Compensation & Benefits

compensation & benefits

An efficient compensation and benefits policy tends to balance the organisational needs and abilities with the individual considerations. When it is fair and consistent, the relationship between the employer and the employees is strong and lasting.

 

When considering what your organisation should pay for compensation and benefits, it is important to understand the general economic trends, the trends and on-going practice on the labour market, and the legal requirements. 

To improve your compensation practice and to enable you to become a competitive employer, we design Compensation and Reward Programmes which serve to attract, retain and motivate employees. 

Our Compensation and Benefits Approach

Our Compensation and Benefits approach enables you to implement a comprehensive Total Reward practice which attracts, motivates, engages and retains employees.

Your past and current compensation philosophy is the ground from which we begin to revise and redesign your compensation practice.

We give emphasis to total reward management and its six elements: compensation, benefits, work-life effectiveness, recognition, performance management and talent development.

Pay Grading

Pay Grading provides a framework for compensation by defining the amount of pay of particular jobs in the hierarchy of salaries.  

Our approach in Pay Grading draws upon comprehensive Job Analysis, Job Design Services and Job Evaluation System.

We design grading systems which help you to attract and retain excellent employees. We ensure that employees, who start in a particular pay grade, can earn a promotion and change grade in the same role based on specific criteria. This encourages employees to perform better. 

Base Salary System

Our Base Salary System standardises your organisation’s compensation by using internal and external data to create the pay structure.

The pay structure has grades, levels and bands.

To ensure that your pay structure is competitive, we apply market pricing. We compare the planned range of salaries versus the ranges other similar organisations on the labour market are paying for those jobs.

Our Base Salary solutions enable you to promote employees by using grades and bands. We create precise criteria for this type of advancement and we integrate them with your compensation policy.

Contingent (Variable) Pay

Contingent pay is a variable monetary reward that is contingent on performance or results achieved. It is an additional incentive pay which stimulates higher motivation and performance. 

Our Contingent Pay solutions link executives and non-executives to aligned objectives which stimulate team work and increased organisational results. 

We design different variable incentive schemes for different individuals and groups among your employees including bonus schemes, sales incentives, and much more.

 

compensation and benefits

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