Hi friends,
With the current recession times, it is very important for all of us to be updated on how is the salary structure designed in tough times.What are the current market trends.I think we should discuss what our respective companies are doing and keep us all updated regarding the new compensation and benefit trends, what do you all say..
From India, Pune
With the current recession times, it is very important for all of us to be updated on how is the salary structure designed in tough times.What are the current market trends.I think we should discuss what our respective companies are doing and keep us all updated regarding the new compensation and benefit trends, what do you all say..
From India, Pune
Hi gys,
see the salary structure in the current market trends is almost strange for the new employee who is being hired presently. And it also reflect in the salary structure of previous or current employees as every sector is trying to slow down the cost of man power and where upto 10 - 25 % salary diductions are on going trends if someone want to stay employed. These all because of low demand of products or services all around the world.
Apart from the above, some companies are making changes into the leave and travel policies to compensate the cost of manpower as much as possible. As an employee, we dont have any option left for us except acting according to the management if we want to stay employed or say we have gone back into two years back position if we take the example of current salary cut.
Any way we have to cooperate in this situation with this hope that job market will soon change its trands positevely and we will get back what we deserve.
Thats all from my side. Let other say abt this.
Thanks & Regards,
c. Bhushan Sharma
From India, Nagpur
12see the salary structure in the current market trends is almost strange for the new employee who is being hired presently. And it also reflect in the salary structure of previous or current employees as every sector is trying to slow down the cost of man power and where upto 10 - 25 % salary diductions are on going trends if someone want to stay employed. These all because of low demand of products or services all around the world.
Apart from the above, some companies are making changes into the leave and travel policies to compensate the cost of manpower as much as possible. As an employee, we dont have any option left for us except acting according to the management if we want to stay employed or say we have gone back into two years back position if we take the example of current salary cut.
Any way we have to cooperate in this situation with this hope that job market will soon change its trands positevely and we will get back what we deserve.
Thats all from my side. Let other say abt this.
Thanks & Regards,
c. Bhushan Sharma
From India, Nagpur
Hi, Can anyone guide me with a source to find what the salary range in current market can be for Dotnet & PHP & PB for exp ranging from 0,1,2,3,4,5 +? Regards, Mary
From India, Bangalore
From India, Bangalore
Hi, Can anyone guide me with a source to find what the salary range in current market can be for Dotnet & PHP & PB for exp ranging from 0,1,2,3,4,5 +? Regards, Mary
From India, Bangalore
From India, Bangalore
Hi,
I agree with Mr. Bhushan Sharma, many companies are going for salary reduction. We in our company done the reduction as far as possible in the taxable allowances, so even the salary is reduced, the tax effect is also reduced.
From India, Mumbai
I agree with Mr. Bhushan Sharma, many companies are going for salary reduction. We in our company done the reduction as far as possible in the taxable allowances, so even the salary is reduced, the tax effect is also reduced.
From India, Mumbai
Thanks Bhushan for your feedback, yes i do agree that we have to follow with what mgmt decides,but its always good to know about what's happening around us, what r other people doing.So please guys do share about what measure is your company taking regarding compensation and benefits.
From India, Pune
From India, Pune
Ok Here is what I think,
Till a few months back we were living in a very employee and service / consumer centric envioronment. Which meant that the organizations were doing a lot of things just to attract and retain talent. One of the most common things was giving non taxable components to the employees as a part of their salaries.
For Example: If an employee gets home 40000 per month, then the organization may give him a structure in which almost 20 - 30 % is paid out as reimbursements, like conveyance reimbursement, medical reimbursement, phone reimbursement, sodex ho vouchers etc. So out of 40000, the employee was give approx 8 - 10 k per month as non-taxable salary. The employee doesnt pay tax on this, however the organization pays 6.78% of "Fringe Benefit Taz"to the governement. So for this case the organization pays INR 678 per motnh to the governement as FBT
Imagine big companies having 500 such employees. They were paying huge amounts FBT just to keep the employees happy.
But now the situation is changed and the companies dont want to do it any more. This is another measure of cutting costs of the organization.
Your Views???
Thanks
From India, Faridabad
Till a few months back we were living in a very employee and service / consumer centric envioronment. Which meant that the organizations were doing a lot of things just to attract and retain talent. One of the most common things was giving non taxable components to the employees as a part of their salaries.
For Example: If an employee gets home 40000 per month, then the organization may give him a structure in which almost 20 - 30 % is paid out as reimbursements, like conveyance reimbursement, medical reimbursement, phone reimbursement, sodex ho vouchers etc. So out of 40000, the employee was give approx 8 - 10 k per month as non-taxable salary. The employee doesnt pay tax on this, however the organization pays 6.78% of "Fringe Benefit Taz"to the governement. So for this case the organization pays INR 678 per motnh to the governement as FBT
Imagine big companies having 500 such employees. They were paying huge amounts FBT just to keep the employees happy.
But now the situation is changed and the companies dont want to do it any more. This is another measure of cutting costs of the organization.
Your Views???
Thanks
From India, Faridabad
The question what you posed to all is good, and we have to think on this issue regarding designing of salary structure as a H.R. professionals and about this my opinion is those who already existed in the company we can cut the fringe benefits like telephone, car and other FBT we need cut and for the new joinees we need design new salary structure
From India, Hyderabad
From India, Hyderabad
The question what you posed to all is good, and we have to think on this issue regarding designing of salary structure as a H.R. professionals and about this my opinion is those who already existed in the company we can cut the fringe benefits like telephone, car and other FBT we need cut and for the new joinees we need design new salary structure and if the company is providing any meals to the employees we just charge 50% from the employees not only this and we can cut so many costs the main thing we have to do at the time of joinning only we need to tell all these things ok
From India, Hyderabad
From India, Hyderabad
Hi,
Friends this is the most lucrative topic to discuss about.
We as an IT - solution provider company are follwing the trend of increasing the variable part of salary. As earlier, we used to follow the structure of 80 - 20, means 80 percent salary and 20 percent variable but now as per our industry scenerio's we have amended to 70 - 30 percent.
We are also keeping a check over the travel and conveyance, to which we have abated.
I percieve that is all i can contribute upon so would welcome some valuable suggestion from the members of HRcite.
Regards,
Rachna:)
From India, Delhi
Friends this is the most lucrative topic to discuss about.
We as an IT - solution provider company are follwing the trend of increasing the variable part of salary. As earlier, we used to follow the structure of 80 - 20, means 80 percent salary and 20 percent variable but now as per our industry scenerio's we have amended to 70 - 30 percent.
We are also keeping a check over the travel and conveyance, to which we have abated.
I percieve that is all i can contribute upon so would welcome some valuable suggestion from the members of HRcite.
Regards,
Rachna:)
From India, Delhi
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Salary-Note.doc
SALARY SHEET CALCULATION.xls