- In today’s dynamic and competitive environments, whether during recession periods or at welfare /peak times, organizations are encountered by a major challenge of outweighing expenses and costs versus revenue and profit.
- One of the major cost/revenue dilemmas for any organization is the employees' salaries, bonus, profit shares, benefits, allowances, training expenses, vacations, ….etc.
- This significant challenge, most probably drives organizations, regardless of their sizes, profitability and maturity levels, to fall into a remarkable dilemma where it’s really difficult to determine the appropriate compensation or reward packages they should offer to attract and retain the highest caliber of employees who optimally fit their current and future needs.
Nowadays, management’s most common questions are:
- What is the best salary scheme we should adopt?
- What is the optimum fixed to variable pay ratio that our salaries and/or pay scales should be composed of?
- Is it appropriate to adopt more than one pay scale within the same organization at the same time?
- Shall we pay for individual competencies “knowledge, skills, abilities and behaviors” or for those competencies specified by the job?
- How about employees’ career paths and their business scopes outside our organization? Do we have a role in that?
The answer to any of the above questions varies to a great extent between one organization and another according to various factors inside and outside the organization.
However, there is no need to worry about any of the above and many more. Kaza Talent’s professional experts are committed to help you chose the best compensation/reward strategy that best fits your organization’s current and future needs.
At Kaza Talent, we help you chose the best pay strategy that suits your current & future business needs, while realizing the impact of adopting each strategy:
- This term describes not only salary and wages, but also all the plans, programs, benefits and opportunities that become available to employees through their employment. It includes integrated programs and benefits, provided by the company to the employees in recognition of their contribution to its success and profitability, as follows:
- Cash compensation – fixed salary and variable pay
- Benefit plans -none cash compensation
This technique or term is commonly used in today’s international/multinational organizations that sees compensation and benefits from a global strategic perspective. It encompasses not only total compensation, but also the following concepts: