Human Capital Department

Total Rewards

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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

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.

Salary Benchmark methodology and definitions:

Treatment of Zeros

Throughout the reports, zeros have not been used in the calculations unless otherwise specified.

Treatment of Negative Values

Throughout the reports, negative values have not been used in the calculations unless otherwise specified.

Total Direct Compensation and Total Remuneration – Number of Incumbents

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.

Market Statistics

Descriptive Statistics

Market Statistics

25th Percentile (25th %ile)

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.

Median

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.

75th Percentile (75th %ile)

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.

Mean

The sum of all data reported divided by the number of observations in the sample, also known as average.

Frequency (% Obs/Orgs)

The percentage of the employees/ organizations actually receiving the item based on the total number of employees/organizations in the position.

Compensation Items:

These values may appear in PDF reports.

Base Salary Items:

Monthly Base Salary

Monthly Base Salary – The gross monthly base salary as of the data effective date, excluding any allowances.

Number of Months Paid (Including Fixed Bonus)

The number of times the incumbent receives monthly base salary in a full year including Fixed/Guaranteed Bonus (e.g. 13 months = 13).

Guaranteed Cash Items:

Meal Allowance

The annual guaranteed cash allowance provided for subsidized meals or luncheon vouchers.

Transportation Allowance

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.).

Shift Allowance

The annual guaranteed cash allowance for working on a specialized shift schedule.

Other Guaranteed Allowances

Any annual guaranteed cash allowance not specified above. www.humancapitaldept.com

SURVEY METHODOLOGY AND DEFINITIONS:

Total Cash Items

Short Term Incentive Eligibility

Indicator that incumbent is eligible for a Short Term Incentive award.

Sales Incentive Eligibility

Indicator that incumbent is eligible for a Sales Incentive award.

Short Term Incentive – Actual

All payments received over the 12-month period ending on the data effective date, which are associated with individual, team, and/or corporate performance.

Sales Incentive – Actual

All payments received over the 12-month period ending on the data effective date, which are associated with sales achievement.

Short Term Incentive (Actual) as percent of Base

TheShort Term Incentive -Actual expressed as a percentage of Base Salary.

Sales Incentive (Actual) as percent of Base

The Sales Incentive – Actual expressed as a percentage of Base Salary.

Short Term Incentive – Target

The target amount of the Short Term Incentive award, associated with expected individual, team, and/or corporate performance over the next 12-month period.

Benefits Valuation Methodology
Benefits Valuation Assumptions

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.

Employee Value

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.

Benefits of Salary Benchmark:

1. Ensures Competitive Pay Rates

2. Improves Employee Retention

3. Promotes Transparency

4. Helps in Budget Planning

5. Promotes Fairness and Equality

6. Enhances Reputation

7. Facilitates Regulatory Compliance

8. Assists in Career Development

Home / Job Evaluation

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

Benefits of our Job Evaluation:

Establishes Pay Equity

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.

Clear Career Progression

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.

Justifies Compensation Decisions

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.

Effectively Manages Job Roles and Responsibilities

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.

Helps in Recruitment and Selection

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.

Budgeting and Financial Planning

Organizations can use job evaluation data to establish comprehensive budget forecasts for labor costs.

Supports Organizational Restructuring

In events like mergers, acquisitions or internal restructuring, job evaluations can be critical for deciding new roles, responsibilities, and salaries.

Compliance with Legal Requirements

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

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.

Benefits of our Competencies framework service:

1. Creates Clear Expectations

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.

2. Improves Performance

When employees know exactly what competencies they need to excel in their role, they perform better and are more productive.

3. Aids Recruitment and Retention

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.

4. Facilitates Training and Development

Competencies framework helps identify skill gaps among employees, thus providing a basis for targeted training and development programs.

5. Promotes Fairness and Transparency

The framework can be used as a guide for performance appraisals, promotions, or rewards, promoting a transparent, efficient, and fair system.

6. Supports Succession Planning

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.

7. Enhances Organizational Cohesion

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.

8. Improves Communication

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.