Wage compensation policies play a key role
Wage compensation represents, without any doubt, the adequate weighing that two parties (company and workers) grant to their respective compensation and economical aspirations in general, one in paying for a service and the other one when receiving their remuneration for a job having been performed. It is for both parties that wage compensation policies play a key role; on the employer’s side, it is an important determinant in the level of costs and expenses meanwhile, at the same time, for the employees, it gives an overall understanding of their rewards based upon aspects like ability, skill, educational level, also acting as an indicator of their performance and loyalty.
It is important to note for the employer that compensation policies are often an important part of their costs, consequently they must be kept under efficient control. At Wiseplan we can help you with the creation of a compensation structure, as well as providing with quality advice in human resources, to focus right where the incentives and benefits predominate and in this way, achieve a higher productivity for your company, and a better working environment internally.
Keep in mind that the salary policy includes the management of this set of economic and transcendent compensations with which the organization satisfies its employees, in consideration of the contribution of these to the purposes of the organization, which is expressed by the performance in each working position.
Our cooperation will focus first and foremost, on the following points:
- Design of salary structures and benefits.
- Design of variable compensation processes linked to salary review processes, performance evaluation, change of level, technical career, etc.
It is not always easy to determine the exact value of every working position in a company since the value of such positions should be related to their contribution to the effectiveness of the organization, this should be the main criterion for determining the salary structure, incentives and benefits of each employee, however alternative methods are used in order to facilitate and make the process more objective.
Keeping your team motivated is absolutely related to the productivity of your company; we can help you implementing this key element, in addition to increasing the overall comfort conditions of those who integrate the company, by offering them a suitable working environment.
For this reason, our goal is to unite two forces such as performance in the quality of your human capital and organizational strategy to efficiently implement a more productive company that achieves its objectives and business goals