Understanding Remuneration Package: Benefit and Reward

Remuneration

When talking about remuneration package, generally your wages or salary is the main part of such package although it may contain other rewards such as milk or meals, electricity or gas allowances, telephone, or a car. Depending on specific policy applied, most companies usually provide a good package of remuneration so that workers’ right can be met properly. However, it would be likely easy to us if we understand one thing: the package should suit the business situation. In other words, the number of package should reflect the duties and responsibilities of the skills and the position of the employee.

A remuneration package, therefore, should come with attractive offer and should be considered on current rates the market offered for the same positions. Basically there are few terms connected with remuneration, namely pay, bonuses and incentives, as well as gratuities. We shall explain each of them and will be started with ‘pay’.

Continue reading

Free Excellent Slides on HR Management

Download for FREE - Amazing Slides on Fundamentals of HR Management and HR Scorecard