Hello everyone,
Good morning. I am an HR intern pursuing an MBA, and as part of my curriculum, I am required to work on a project. Due to my interest in Compensation, I have chosen to focus on creating a Compensation band for my organization. I am unsure about how to proceed with this project and what information you may need to assist me. I am looking forward to learning a lot.
Sundesh Murthy
+91-9620127284
From India, Kochi
Good morning. I am an HR intern pursuing an MBA, and as part of my curriculum, I am required to work on a project. Due to my interest in Compensation, I have chosen to focus on creating a Compensation band for my organization. I am unsure about how to proceed with this project and what information you may need to assist me. I am looking forward to learning a lot.
Sundesh Murthy
+91-9620127284
From India, Kochi
Greetings,
I understand you must have received guidelines on the project from your faculties. Here's my suggestions for you to consider:
- Define compensation structure and philosophy in the industry your firm belongs to.
- Identify broadly how banding is done within your industry.
- Drill down to your firm and define the several levels connecting how compensation is drawn for each one of them.
- Define the justifications and rationalizations in mapping the compensations.
- Map and review the existing band in your firm.
- Identify a few areas for improvement and suggest solutions for it.
Here are a few pointers:
- Banding Concept - Bands are used to group jobs across the organization similar in scope and complexity, organizational impact, degree of independent judgment and discretion, knowledge, and skill expertise.
- Level - It is an indicator used to identify the level of the employee, which will be linked to the complexity of the job/role.
- Designation / Titles - It is the title that identifies the role of the individual within the band. For employees in bands 2 and 1, there will be a basket of market-facing designations that can be used based on the leader's approval.
- Common Compensation Structure & Policies - An effective and uniform compensation structure is recommended to attract, retain, and motivate employees.
Please consider Archna's post in this link: [Salary bands](https://www.citehr.com/331382-employees-pay-bands-grades.html)
You may consider viewing the salary designations and bands as attached in the document I found in this community.
Regards,
(Cite Contribution)
From India, Mumbai
I understand you must have received guidelines on the project from your faculties. Here's my suggestions for you to consider:
- Define compensation structure and philosophy in the industry your firm belongs to.
- Identify broadly how banding is done within your industry.
- Drill down to your firm and define the several levels connecting how compensation is drawn for each one of them.
- Define the justifications and rationalizations in mapping the compensations.
- Map and review the existing band in your firm.
- Identify a few areas for improvement and suggest solutions for it.
Here are a few pointers:
- Banding Concept - Bands are used to group jobs across the organization similar in scope and complexity, organizational impact, degree of independent judgment and discretion, knowledge, and skill expertise.
- Level - It is an indicator used to identify the level of the employee, which will be linked to the complexity of the job/role.
- Designation / Titles - It is the title that identifies the role of the individual within the band. For employees in bands 2 and 1, there will be a basket of market-facing designations that can be used based on the leader's approval.
- Common Compensation Structure & Policies - An effective and uniform compensation structure is recommended to attract, retain, and motivate employees.
Please consider Archna's post in this link: [Salary bands](https://www.citehr.com/331382-employees-pay-bands-grades.html)
You may consider viewing the salary designations and bands as attached in the document I found in this community.
Regards,
(Cite Contribution)
From India, Mumbai
thanks a lot (Cite Contribution), bt a i have a small query regardind this salary bands, which means according to which year you posted this bands thanking you
From India, Hyderabad
From India, Hyderabad
Dear Yashwant,
This banding structure is a result of a Mercer project while building parity, when two firms with different structures were merged. The data over the industry was researched to find the best fit.
The initiative dates back to 2007, but the structure hasn't changed much in the firm, barring a few tweaks here and there. The document serves as a point of reference for those currently working on it. The rest remains to be researched.
Please consider sharing your views and understanding of the current structure. Looking forward to hearing from you.
From India, Mumbai
This banding structure is a result of a Mercer project while building parity, when two firms with different structures were merged. The data over the industry was researched to find the best fit.
The initiative dates back to 2007, but the structure hasn't changed much in the firm, barring a few tweaks here and there. The document serves as a point of reference for those currently working on it. The rest remains to be researched.
Please consider sharing your views and understanding of the current structure. Looking forward to hearing from you.
From India, Mumbai
Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.