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,*,Color Overhead Title,Body Text,Second Level,Third Level,Fourth Level,Fifth Level,SalarySurveybased on Hay Method,Hay Point Range,Upper Quartile(Q3)Salary Formula,200-300,144.89*,HP-1648,301-400,165.55*,HP-7845,401-500,195.67*,HP-19,893,501-600,176.16*,HP-10,140,601-700,194.51*,HP-21,145,701-800,168.63*,HP-3029,Internal,equity,External,equity,Employee,equity,Administration,Concepts,Compensation Techniques,Planning,Budgeting,Monitoring,Evaluating,Job,Analysis,Job,Description,Job,Evaluation,Job,Grades,Market,Definitions,Salary,Surveys,Policy,Lines,Pay,Structures,Seniority,Increases,Performance,Evaluation,Increase,Guidelines,Compensation Objectives,Role clarity and accountability.,Facilitates administration and,performance management.,Competitive wage policies and,practices.,Influence employeeswork,attitudes andbehaviour.,Attracttalents.,Retaintalents.,Motivate employees.,Complywith regulations.,Consistency inpolicy,administration.,The StrategicCompensation Model,Compensation Management,The fundamentals of salary administration,Salaryadministrationis concernedwith decidinghow andwhat staff should bepaid and withthe techniques and procedures fordesigning andmaintaining salary structures,rewarding staff and exercising salary control.,Aims OfSalaryAdministration,The basic aimsof salary administration are,to attract,retainand motivate,staff by developing and maintaininga competitiveand equitablesalarystructure.,To ensure thata sufficientnumberof suitable staff isattracted to join theorganization;,To encourage suitablestaffto remain withthe organization;,To develop andmaintain a logical salary structure whichachieves equity in the payfor jobs of similar responsibilityand consistency in the differentials between jobsin accordancewith their relativevalues;,To ensure thatsalarylevelsmatchmarketrates;,To keepthe salary levels adjustedin linewith increases in the costof living;,Aims OfSalaryAdministration,To maintain consistency in methodsused tofix and review salary levels and differentials;,To provide forprogression within the salary structure in accordance with performance and level ofresponsibility;,To operate thesalarysystemfairlyand convincethe staff thatthe system isfair;,To maintain aflexible salary system whichwill accommodate changes inthe market rates fordifferent skills andin thecompanys organization structure;,To achieve simplicityin operationsas anaid tostaff understanding and to minimizeadministrative effort;,To operate effectivesystemsof controlling salary costsand the administrative proceduresrequired to achieve the above aimsat theleast cost tothe organization.,Components OfSalaryAdministration,The starting point ofsalaryadministration is the determination of salary levels byjob evaluation.Thereafter,salaryadministration is concernedwith:,The design andmaintenance of salary structures;,The operationof salary progressionsystems;,The administration and control of salary reviews;,The design andoperation ofbonus schemes;,The provisionof employee benefitsand other allowances;,The development of atotal remuneration policy.,Compensation Tools and Techniques,Pay Structure,SalaryStructure,Performance Related Pay,Merit PaymentScheme,Incentive Scheme,BenefitPolicies,SalaryReviewGuidelines,Compa-ratio,SalaryProblems,Criteria for Pay Structures,Be appropriateto theneedsof theorganization,in terms of its:,-culture,size and the degree in which changes take place,-needfor flexibility,-typeand level of employees to becovered,Be flexible inresponse to internaland externalpressures,especiallythoserelatedto market rates andskill shortages.,Providescopeforrewardinghigh-flyerswhilestillprovidingappropriaterewardsforthemajorityofemployees.,Ensurethatrewardsaregiveninlinewithperformancesandachievements.,Provideabasisforcareerplanningwhichwillmotivateambitiousemployeeswithhighpotential.,Facilitateconsistencyinthetreatmentofvaryinglevelsofresponsibilityandperformance.,GradedSalaryStructures,Alljobsareallocatedintosalarygradewithinthestructureonthebasisofanassessmentoftheirinternalandexternalvaluetotheorganization.,Eachsalarygradeconsistsofasalaryrangeorband.,Thejobsallocatedtoasalarygradeareassumedtobebroadlyofthesamelevel,normallythesameminimumandmaximumrates,whichcorrespondwithgradeboundaries.,GradedSalaryStructures,Atypicalgradedstructureconsistsofasequenceofsalarygradesorranges,eachofwhichhas,adefinedminimumandmaximum,.Itisassumedthatallthejobsallocatedintoagradearebroadlyofthesamevalue,althoughactualsalariesearnedbyindividualswilldependontheirperformanceorlengthofservice.,Acrosstheboardcostoflivingormarketrateincreaseswillusuallyresultinanincreasetotheminimaandmaximaofeachgrade.Allthejobsinanorganizationmaybecoveredbythesamestructureofsalaryrangesortheremaybedifferentstructuresfordifferentlevelsorcategoriesofjobs.,Make-upofaSalaryGrade,Abasicprincipleofasalarystructureisthatindividualsadvancethroughthestructureeitherbyprogressingwithinthesalarygradeforthejobastheyimprovetheirperformance,orbypromotion.,Inthesimpleststruct
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