Register now or log in to join your professional community.
Fair pay is answering the question.. is there discrimination between similar and different jobs/ function, in and between corporations and industries.The system of pay determination by job evaluation supports companies, HR, labor council and unions to define a compensation & benefits strategy and determinate a uniform grading / classification structure and pay level.
It also helps companies and HR to compare and review the level of "fair pay" by doing salary surveys with external sectors to define and tackle the discussion " what should be the minimum and maximum wage be of my lowest up to my highest function of the organization chart to attract employees, monitor budgets and strength the competitiveness with a smart salary-compensation & benefits strategy.
Fair pay should be based on the kind and quality of work done and not according to the age, race, sex, religion, political association, ethnic origin, or any other individual or group characteristic unrelated to ability, performance, and qualification. Likewise, an individual's pay must suffice the daily cost of living in a particular area he/she is working and not from his country of origin.
Your pay depends upon the job profile for which you have been selected which in turn depends upon the degree of difficulty & expertise required along with the degree of responsibility. In addition the area, city or country will also have an influence on your pay packet. The costlier the city the more the compensation in terms of transport, accommodation, inflation etc. There is also a compensation for working in adverse climatic or sensitive/remote areas where higher physical risk is involved.
Pay is normally based on job specification i.e. the profile of the person (educational attainment, relevant experience and required skills) needed for the job. The pay shall include base salary and all allowances like house rent, medical, transport etc. (minus compulsory income tax deduction if any). In addition, the employee shall be entitled to contributory provident fund, insurance and pension as per rules and regulations of the company.
Area based allowance: It may so happen that the cost of living in some cities is costlier than other cities. So, when an employee is posed in costlier cities, he get an extra percentage of salary as COLA (cost of living allowance) and this vary from time to time based on cost of living index determined by relevant authority or consumer association.
Companies with 100 employees or more will be required to disclose pay data broken down by race and gender to the U.S. Equal Employment Opportunity Commission.
agree with all expert answers
