The added bonus to employees during the festive season brings the company’s total spend on special bonuses and incentives for their teams globally to over $2.5 billion in 2020.Amazon India, will offer a “special recognition bonus” of up to Rs 6,300 to its employees in India. This payout is in line with similar payouts being…
With on-demand or daily pay solutions going more mainstream, more employers are assessing the different options available.When organizations first went live with HCM platforms a decade ago, one immediate benefit was that HCM tools provide a fast line of sight into the downstream impact of employee behaviors that affect top and bottom-line performance – e.g.,…
Social media giant Facebook has agreed to a $52million court settlement to compensate its content reviewers, after a class-action lawsuit alleged that the employees suffered psychological damages while filtering harmful content uploaded on the site. According to an AFP report, the preliminary settlement was reached in a California court. As per the settlement, the U.S.…
Takeda Pharmaceutical Company Limited, a global pharma company headquartered in Japan, has announced that its Board of Directors has approved an executive compensation recoupment policy (“clawback policy”). The policy is aimed at strengthening the company’s commitment to corporate governance. The policy will take effect on April 1, 2020 and apply to short-term incentive compensation beginning…
RBI Guidelines for Bank CEO Compensation provides for clawback, and deferred payouts of variable pay. RBI, has announced a fresh set of guidelines for compensation of CEO’s, whole time directors (WTD’s) of Banks. These guidelines are based on a review of guidelines issued in 2012 (for implementation effective FY 12-13). They are also aligned with…
Yes Bank, one of the key private sector banks in India, has announced big bonuses to retain its existing employees. It is understood that these bonuses will be in the form of deferred payouts spread over the year. As per some news reports the bonus will be given in 30:40:30 ratio, getting credited every four…
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 #peopleprioritiesThese insights are primarily for the functional managers, and HOD’s. At times it’s difficult to find a…
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…
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…
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…
If you ever thought of benchmarking your compensation levels with the industry, we have prepared a compilation based on analysis of compensation levels from across Telecom, BFSI, Media, Manufacturing – Auto, Engineering, IT sectors. The compensation ranges that can be representative of most sectors / industries and companies in India. The From – figure can…
Mature organizations with robust processes and practices have established compensation norms, for various bands, hierarchy levels, and functions. These compensation levels are derived based on Job Analysis, Job Evaluation supported by Compensation Benchmarking exercises. Some company may also arrive at these norms based on their industry benchmarks and their business projections. Normally mature organization’s try…