How can we design the pay structure for an appropriate industry? Explain with example?
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Ten Steps For Building A Salary Structure
Establish your compensation philosophy. Each employer needs a policy which outlines their desired market position. ...
Gather market data. ...
Identify benchmark jobs. ...
Measure your market position. ...
Calculate the compa-ratio. ...
Check your budget. ...
Start allocating. ...
Final adjustments.
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Managerial remuneration doesn’t exceeds 11% of net profits of the firm
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