BrightSparks Forum

Go Back   BrightSparks Singapore Scholarship & Higher Education Forum > Career Issues > Career Issues
Click Here if you forgot your password.

Reply
 
Thread Tools Display Modes
Old 12-20-2012, 12:31 PM   #1
Mack
Junior Member
 
Join Date: Oct 2012
Posts: 5
Mack has a neutral reputation
Default Ariable pay

One of the key components of this variable pay plan is the strategy of linking pay to performance. This is a strategy that has been followed by many Multinational companies across the world and consists of the overall pay structure being broken down into components. These components would include the basic pay, benefits and the variable pay. The variable pay would be paid out as a percentage of the whole subject to the performance of the employee. For instance, if the employee gets a grade of 2 on a scale of 1 to 4, the variable pay would be 70-80% of the eligible amount and if the employee gets a grade of 1, the variable pay would be 120-100% of the eligible amount. Accordingly, the performance of the employee determines the variable component of the salary. The international practice is to increase the component of the variable pay higher according to the hierarchy. This would mean that at senior levels of the employee hierarchy, the variable component can be as high as 50-60% of the overall pay.
__________________
Employment-Toolkits
Mack is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +8. The time now is 08:46 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.