Wage Management System
I do not pay good wages because I have a lot of money; I have a lot of money because I pay good wages. —Robert Bosch
Perception and reality of justice between employees in a corporation, is usually evaluated upon wages and secondary rights. With the work valuation-based wage management system, you can determine the wages of your employees according to the value of their duties in the corporation, their personal competencies, and distinctive features. By ensuring the transparency of the system, you can significantly reassure the motivation for personal development and the perception of justice within the institution.
Three fundamental features of a successful wage management system:
Fair and Objective
Objective and Benefit
Determining wages and clear principles of change for wages, within the corporation. Thus, getting rid of polemics.
Determining balanced wages in duties of similar obligations and individuals that have equivalent competency, with each other. Therefore, to ensure justice, to keep belonging to the corporation and high motivation.
Using resources efficiently by giving correct wages to correct employees. Thus, encouraging improvement of employees and rationalizing budgets allocated to personnel expenditures.
Being able to make healthy market comparisons. Thus, being able to employ and retain quality personnel, bringing in the people with the required qualifications to the company.
Creating an infrastructure of career planning and performance practices in human resources management.
Process
In Dynamics for Development Management Centre, we summarize the Wage Management System integration in a comprehensive meaning in five steps:
As Dynamics for Development Management Centre, we provide a leverage effect for your corporations on the basis of quality and performance, by specializing models in literature into your organization.
Project Outputs
Work Evaluation & Analysis of Framework Factor
Forms / Tables of Determining Employee Level
Wage System (Excel)
Procedure of Wage System Practice
