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We have the compensation and benefits data to make sure you’re always paying fair—no matter the job, industry or location. More than that, we have comprehensive rewards benchmarking backed by expertise, so you’re not wasting your resource budget on the wrong rewards. Instead, you’ll offer people total rewards (financial and non-financial) that engage and motivate them to go above and beyond—better for both them and for your business.
Home / Salary Benchmark
Salary Benchmark, is the process by which a company compares their employees’ salaries with the industry or local averages for similar roles, to ensure that they’re providing competitive compensation. This process may consider factors such as job responsibility, job location, years of experience, educational background, and skill sets. The aim of salary benchmarking is to ensure talent retention by offering competitive and fair wages, attract the best talent in the market, and maintain internal pay equity.
By using Salary Benchmark you will be able to evaluate and adjust pay scales based on market trends, businesses can maintain a positive, competitive, and fair work environment.
Throughout the reports, zeros have not been used in the calculations unless otherwise specified.
Throughout the reports, negative values have not been used in the calculations unless otherwise specified.
The total number of recipients reported for these remuneration types may be less than other compensation aggregates because there may be companies that only submitted cash compensation.
Descriptive Statistics
The data point that is higher than 25% of all other data in the sample when ranked from low to high, also known as the first quartile.
The data point that is higher than 50% of all other data in the sample when ranked from low to high. Also known as the 50th percentile.
The data point that is higher than 75% of all other data in the sample when ranked from low to high, also known as the third quartile.
The sum of all data reported divided by the number of observations in the sample, also known as average.
The percentage of the employees/ organizations actually receiving the item based on the total number of employees/organizations in the position.
These values may appear in PDF reports.
Monthly Base Salary – The gross monthly base salary as of the data effective date, excluding any allowances.
The number of times the incumbent receives monthly base salary in a full year including Fixed/Guaranteed Bonus (e.g. 13 months = 13).
The annual guaranteed cash allowance provided for subsidized meals or luncheon vouchers.
The annual guaranteed cash allowance given to incumbents who are not eligible for company car to subsidize transportation expenses to and from the workplace or other business- related travel requirements (e.g. to take up public transport, gasoline consumption, road tax, parking, etc.).
The annual guaranteed cash allowance for working on a specialized shift schedule.
Any annual guaranteed cash allowance not specified above. www.humancapitaldept.com
Total Cash Items
Indicator that incumbent is eligible for a Short Term Incentive award.
Indicator that incumbent is eligible for a Sales Incentive award.
All payments received over the 12-month period ending on the data effective date, which are associated with individual, team, and/or corporate performance.
All payments received over the 12-month period ending on the data effective date, which are associated with sales achievement.
TheShort Term Incentive -Actual expressed as a percentage of Base Salary.
The Sales Incentive – Actual expressed as a percentage of Base Salary.
The target amount of the Short Term Incentive award, associated with expected individual, team, and/or corporate performance over the next 12-month period.
This section details the assumptions used by Human Capital Department’s to value the main benefit plans. We have applied these techniques, with adjustments where necessary, to the actual features of your plan.
The valuation process has been undertaken from the perspective of employee value as opposed to employer cost. Employee value reflects the amount of gross salary required to purchase an equivalent benefit in the marketplace to replace the benefit provided by the employer. This process takes into account the fact that some benefit plans are tax effective when provided by the employer, so that the valuation is grossed up where the equivalent benefit, if provided by the employee, would be paid out of net salary. Employee contributions have been deducted from these values where appropriate in order to establish the benefit provided by the employer. We value the benefit based on value to a new employee (if he had to purchase this himself). Therefore we assume that all employees are receiving the current benefits available for a new hire.
Home / Job Evaluation
Job evaluation is a systematic method used by organizations to assess the importance, complexity, and value of jobs within the organization. This process allows an employer to understand the relative worth of different jobs and use this information to establish a fair and equitable pay structure.
In performing a job evaluation, factors such as the skills needed, responsibilities and duties associated with the job, the working conditions, and the level of decision-making the job requires are typically considered. The goal is to provide a basis for designing a balanced and reasonable compensation system that can attract, retain, and motivate employees in a competitive market.
Job Evaluation helps organizations identify the real value of work, putting the right people in the right roles and paying them the right amounts. Our job evaluation methodology brings clarity, objectivity and consistency.
Our Job Evaluation Methodology will cover the following:
1. Communication
2. Contribution to the business
3. Team on breadth
4. Knowledge & Expertise
5. Complexity
6. Impact identify if the job is Strategic, Tactical, or operational
Job evaluation is a systematic way to determine the relative worth of a job in an organization. This process helps ensure that employees are paid fairly based on the skill, effort, responsibility, and working conditions associated with the job.
By defining and comparing various roles within an organization, job evaluation can help outline potential career paths for employees, aiding in their development and enhancing employee satisfaction.
Job evaluations provide a logical and defensible framework for making compensation decisions. This transparency can minimize disputes related to pay and help maintain high morale within the organization.
A systematic job evaluation process also helps maintain an updated and realistic overview of the roles and responsibilities within the organization. It helps define or revise job descriptions, making them more accurate.
By providing an accurate description and value of the job, potential applicants can make an informed decision about their fit for the role. Similarly, it aids employers in selecting the bestsuited candidate for the job.
Organizations can use job evaluation data to establish comprehensive budget forecasts for labor costs.
In events like mergers, acquisitions or internal restructuring, job evaluations can be critical for deciding new roles, responsibilities, and salaries.
Many countries have equal pay legislation where it's a legal requirement for organizations to provide equal pay for work of equal value. Job evaluation can support this requirement by ensuring a fair and equal pay structure.
Home / Competencies Framework
A competencies framework is a structured approach to identifying, defining, and assessing the key knowledge, skills, and behaviors that employees need to perform their roles effectively. It provides a common language and set of standards for evaluating and developing talent within an organization.
With a well-defined competency framework, employees can understand what is expected of them in their roles, which can lead to increased job satisfaction and motivation.
When employees know exactly what competencies they need to excel in their role, they perform better and are more productive.
The framework helps in defining clear job roles and requirements, which simplifies the hiring process. This also facilitates the retention of high performers as they have a clear career path.
Competencies framework helps identify skill gaps among employees, thus providing a basis for targeted training and development programs.
The framework can be used as a guide for performance appraisals, promotions, or rewards, promoting a transparent, efficient, and fair system.
The framework eases the process of identifying potential leaders based on competencies needed for future roles, thus aiding in succession planning and talent pipeline management.
A comprehensive competencies framework allows everyone within an organization to work from the same understanding about what they are to do and how they are to do it, creating a cohesive work environment.
The framework provides a shared language for talking about performance and development, leading to improved communication between managers and their teams.
Essentially, a competencies framework supports an organization’s HR practices, encourages employee engagement and growth, and helps drive the business towards its objectives.