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Remuneration System

HOW TO CREATE A REMUNERATION SYSTEM

  • Analyse the remuneration system and evaluate the motivation system including their conformity with the business goals, corporate culture and organization’s specific activities.
  • Formulate the new remuneration system requirements (qualitative and quantity indicators).
  • Develop a principal scheme of the system based on your specific requirements, including the development of competency profiles, and grading.
  • Provide a detailed design of the approved scheme (rules, regulations, and calculation methods).
  • Develop a plan for introduction of the new system.
  • Introduce the new system according to the plan.
  • Provide support for the introduction.

All employees of the company are involved in the process of the remuneration system development: the executives and key staff are interviewed and participate in working groups; rank-and-file staff members are surveyed.

PRESENTATION OF THE RESULTS

  • Provide a complete set of documents describing the remuneration system (rules, regulations, and calculation methods).
  • If the case of partial fulfilment of the project (separate categories of positions, non-detailed addressing of certain elements, etc.) formulate the base principles for further development of the remuneration system and adjacent areas ensuring the efficiency of the remuneration system.
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