“Motivated employees are crucial to a organisation’s success”
Nothing can be as true as this statement, and every organisation needs to understand this. The direct impact on the employees motivation is their salary and rewards. Your employees want their salary to be upright, and that’s what keeps them encouraged to work.
Navigating the balance is very tricky because everyone expects their pay to be fair and if somehow they come to know about the biases of pays it can be a big time disappointment for them.
However, to keep the salaries and compensation impartial, you will need to adhere to a few things that will help you to achieve your motive of equal pay and remuneration.
Let us have a look on these points to get a better idea:-
1. The compensation of process should be fair-
This can be achieved by rewarding every employee according to the work and efforts they put in. Make sure the HR and management team choose a time once in a year, discuss the work, review the results provided by the employees and decide the compensation. The rewards or compensation should be measurable and can include things like bonuses, training, quarterly incentives and any other possible thing.
However, the only thing that should be kept in mind during this procedure is that everything should be fair.
2. Gender pay bias or gap is not acceptable-
Make sure you never keep the wage gap while deciding the remuneration, rewards, or any other benefits because that may discourage the employees. This point is also important for hiring purposes, because a female is as capable as male for any respective position. Thus avoid the gender bias in the organization.
3. Follow the legal compensation law-
4. Consider the cost of living differences-
This will drive the encouragement level of the employee to the next level and your employees will stay in the longer period with no changes in their work and results. Therefore, consider the living expenses of all the employees first.
5. Make sure there is no cultural bias-
Avoid cultural bias while deciding the pay of your workers because stereotyping in this way can limit the actual ability of the employees’ skills. It is important to eliminate such bias at every cost and make sure that no one ever feels that way in terms of their compensation or pay.
6. Keep the check on relative impact of employees-
This type of approach helps you to remove the inconsistencies from the management system. Another benefit of this approach is that you will avoid future regrets, which means that if one of the employees leaves the organization in the near future, would that affect the work? If the answer to this question is yes, you will still have the time to change your mistakes.
Our employees are important to us because these people will be the future of the company.