Respected sirs it is increment time in our company it is done once in three years for operators we have a very senior operators who have put in 25 yrs of service they are with the company during tough times others have put in some where from 10 to 14 yrs of service now my question is if a wage is decided should it be equal to all.
Most senior employee is drawing 50 k while the junior most is drawing 44k. please suggest. your insights will be of great help to me. Please guide me.
From India, undefined
Most senior employee is drawing 50 k while the junior most is drawing 44k. please suggest. your insights will be of great help to me. Please guide me.
From India, undefined
What is the existing increment policy?
Company can give higher increment to people who have shown higher measured productivity.
Amount can be directly linked with achievement of goals.
Seniority-based pay systems are those in which the primary basis for pay increases is the employee’s tenure. It should be noted that seniority-based pay systems can take into account performance, but the main factor is tenure. Some benefits of seniority-based pay : loyalty, retention, and stability of all staff members, regardless of performance levels.
Performance-based pay systems consider performance as the primary basis for pay increases. Like in seniority-based pay systems, other factors, like tenure, can be accounted for in a performance-based system, but employee performance, as decided by the organization, is the main impetus in determining pay raises.
Keeping this in mind organisation can decide on increment policy.
From India, Pune
3124Company can give higher increment to people who have shown higher measured productivity.
Amount can be directly linked with achievement of goals.
Seniority-based pay systems are those in which the primary basis for pay increases is the employee’s tenure. It should be noted that seniority-based pay systems can take into account performance, but the main factor is tenure. Some benefits of seniority-based pay : loyalty, retention, and stability of all staff members, regardless of performance levels.
Performance-based pay systems consider performance as the primary basis for pay increases. Like in seniority-based pay systems, other factors, like tenure, can be accounted for in a performance-based system, but employee performance, as decided by the organization, is the main impetus in determining pay raises.
Keeping this in mind organisation can decide on increment policy.
From India, Pune
In order to compensate long serving employees better, looking to the fact that the difference in emoluments is only around Rs. 6000/- between an employee with 15 years service and a new comer, it is suggested that you may follow increment on % of basic pay basis. Say for instance if you follow 3% , it will be Rs. 1500 for senior people and Rs. 1320/- for the newly appointed ones. The % of increment could be decided on the basis of the capacity of the industry to pay.
From India, Mumbai
From India, Mumbai
The management decides certain % to be given as increment. This increment caculated on grade/basic and the increment amount will be different but % is equal for all.
If you want to give some thing more to some one whom you treat having more contribution in building the co's business. You can but not at the time of increment as this may create problem. You can feliciate him with one time cash incentive for 25 year long dedicated service to the company.
From India, Mumbai
If you want to give some thing more to some one whom you treat having more contribution in building the co's business. You can but not at the time of increment as this may create problem. You can feliciate him with one time cash incentive for 25 year long dedicated service to the company.
From India, Mumbai
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