·
Total Reward
In keeping with global standards of compensation, we view compensation
as total cost, factoring in all elements, fixed and variable,
in deciding employee compensation. Our underlying philosophy is
to ensure that we are individual driven, while being guided by
the market. Our pricing position is aimed at mid range positioning
for Fixed Pay and top end for Variable Pay, thus placing premium
on high performance.
·
Pay for performance
The element of 'Variable Pay', is an integral part of the Total
Reward fixed for an employee and is dependant on individual performance
and Company Performance. The quantum of this pay at the Top Management
level is as high as 40% of total compensation down to 10% at the
Junior Management level.
·
Performance-competency matrix
Growth in compensation is a factor of performance and growth in
proficiency of desired competency. The above matrix places competency
growth at an advantage over performance. This encourages individuals
to constantly endeavor to learn and upgrade their skills to remain
contemporary.
