Development of a salary policy
Using the fee assessment tool for a transactional services company in Ecuador.
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It has been possible to corroborate that, although the organization's current salaries are above what is dictated by Ecuadorian law, it is increasingly difficult to gain the loyalty of employees, which has an impact on business objectives. We will start with the homologation of positions that will allow us to know the key positions within the organization, in addition to having a reference framework to understand the similarity or possible differences between the salaries of each position. Afterwards, a job evaluation manual will be established that will allow each of the company's positions t...
It has been possible to corroborate that, although the organization's current salaries are above what is dictated by Ecuadorian law, it is increasingly difficult to gain the loyalty of employees, which has an impact on business objectives. We will start with the homologation of positions that will allow us to know the key positions within the organization, in addition to having a reference framework to understand the similarity or possible differences between the salaries of each position. Afterwards, a job evaluation manual will be established that will allow each of the company's positions to be weighted, contributing to the development of a salary structure according to levels and positions with the conviction of retaining talent and thus maintaining the continuity and sustainability of the business. All this will result in a salary policy capable of differentiating positions within the same corporate level, and thus provide a sense of justice and consistency in the compensation of staff thanks to the weightings established for each factor and sub-factor of each position, achieving a salary range according to the needs of the company.
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