Compensation Management - The Commitment to a Transparent Compensation Framework
Modern compensation systems that are in line with requirements and performance are among the criteria that are relevant to competition when it comes to attracting and retaining top performers. Only a remuneration system that is in line with the market, requirements and performance can adequately support the company's goals.
In the meantime, there is no way around a transparent remuneration framework. Transparency in remuneration issues is indispensable. This was also the result of a survey of 170,000 employees by the career network Xing. According to this survey, eight out of ten employees (!!) demand more salary transparency in their companies.
The ifo Institute in Munich also writes: "....the pressure regarding transparent remuneration systems is increasing, companies are examining what information should be passed on to employees. Although many respondents indicate a desire for greater salary transparency within the company. But it is not currently common practice for most employers to share detailed information on the internal remuneration structure with the workforce."
We would be happy to show you how to make your remuneration system transparent and future-oriented without having to accept the associated risks. And this across all organisational areas and levels.
If you would like to know how this can also be achieved for your company, please call us at +49 (40) 28 41 64-0 or use our free service number 0800 300 1919.