Strategic remuneration plan
As part of the preparation of our Strategic Projects, we analyse the remuneration policy that the company must have to achieve the overall objectives of improving benefits. In this way, Melt Group helps you to avoid loss of talent. Having a good strategic remuneration plan will enable you to improve your company management at all levels.
Melt Group has many years of proven experience in the Human Resources sector. In addition, we are specialists in HR at an international level, which provides us with quality tools for making better strategic decisions for our clients. Having a good remuneration policy in the company is essential for the company to grow, optimizing its own resources, promoting employee remuneration and thus their attitude and commitment to the company, which results in better business results.
In order to improve remuneration, our experts assess essential aspects such as the economic situation and the different characteristics of the company’s staff. Firstly, the market study offers a full image regarding the current remuneration policy, comparing it with that of the market. If we identify any errors in this regard, we will perform a full strategic remuneration plan that will improve talent retention and business success.
What is the strategic remuneration plan?
A strategic remuneration plan enables us to bring a remuneration system to a company that ensures the efficiency of the company, retaining talent and promoting the quality of its human resources. This encourages confidence in the workers and their feelings towards their job position.
Therefore, we have an important business tool that will enable us to attract employees committed to the business. Remuneration policies are also keys to optimizing the profits of the company and must be included in the strategic projects of any serious company.
Melt Group is committed to designing a remuneration system for each client that is adapted to reality and bespoke for each company. This is an ad hoc service that we carry out following a thorough analysis, both internal and external.
In order to establish the full compensation, we must study many types of compensation, including the base salary, variable salary, emotional salary, etc.
Strategic Remuneration plan: factors to take into account
Company location: this is one of the most important aspects because the location of the workplace directly interferes with travel and travel costs. In our analysis, we take into account if the company is close to an urban centre, if parking is easy to find, if it is far from the city, etc.
Company economics: the economic situation of the company is key when carrying out a good strategic remuneration plan. Our commitment is to ensure that the payment of the salaries is possible without generating financial hardship in the company.
Job positions: thanks to the company’s organizational chart, we can analyse the various job positions. The ideal situation is when each job position is well defined and we know the functions of each worker. Remuneration policies must be prepared taking into account the aptitudes and attitudes of the various employees and their job positions.
Workers: studying each of the company’s employees is a priority. In this way, we can design a clear schema of the staff situation, establishing their needs and motivations.
The salary bands: this is the time to definitively set the salary bands for the company’s remuneration system. At this point, we must also mention the possible incentives, since they must be well defined for each job position.
The labour market: the labour market situation is an external factor when preparing a serious strategic remuneration plan. The truth is that the labour market is changing and this affects staff salaries and wages.
Economic overview: the economy of the country in which the company operates is also important when setting the remuneration policy. Salaries are not the same in times of economic upturn as in times of serious crises.
Labour policy: externally, we must look at the labour policies of the country. We actively observe the Minimum Inter-professional Salary, in order to promote a quality remuneration policy adjusted to reality.
Various agreements: carefully analysing the collective agreement by which we are going to be governed is essential. In order to have a remuneration policy adjusted to reality and legal, it is essential to have this agreement as a reference.
Some types of remuneration
Melt Group differentiates the following types of remuneration:
- Fixed remuneration.
- Variable remuneration.
- Salary in kind.
- Emotional salary.
Discover the best strategic remuneration plan for your company from Melt Group. Our Human Resources specialists are ready to successfully improve remuneration strategies in your company. Contact our team and enjoy quality HR advice.
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