Category: Compensation and Rewards

Juggling between budget, bell curve and people priorities: For functional leaders.

Every business is different, every individual is different. Give a thought to what can work in a particular case. Retaining and keeping your teams motivated is the key, and there has to be a way around. Think. #bellcurve #manpowerbudget #peoplepriorities These insights are primarily for the functional managers, and HOD’s. At times it’s difficult to find…

Will your business benefit from a compensation benchmarking exercise ?

Compensation benchmarking, or salary surveys are exercises conducted to identify levels and boundaries related to pay grades for a set of positions. Ideally a benchmarking exercises should be undertaken keeping a sample of comparable companies in related business or businesses employing similar manpower. Ideally, the business size has to be near similar – but we…

Benchmarking compensation – Simple hack and no nonsense approach.

This approach to benchmarking compensation at your workplace can work across business and sectors, industry domains. If undertaken well, and with reasonable thought and effort the benchmark percentiles would be a good guide related to the identified jobs, industry and target companies. They can help in deciding or recommending your teams increments. The approach assumes…

Do startups and small companies need a formal compensation benchmarking exercise?

Last year, the CEO of a small IT company asked my firm to undertake a compensation benchmarking exercise to identify compensation of similar manpower in comparable businesses. They wanted benchmarks for the software developers, design guys, and other operations team members in the business. They wanted adequate data to be able to make informed decision…