Remuneration Policy Analysis

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6. Remuneration policy 7.1. Introduction The objective of the Charis India Care Foundation (CICF) remuneration policy is to attract, motivate and retain qualified and expert individuals that CICF needs in order to achieve its strategic and operational objectives. The purpose of the remuneration policy is to focus on improving the performance of staff and enhancing the value of employees. Remuneration is the total compensation that an employee receives in exchange for the service performed for their employer. Remuneration may consists of monetary rewards or complementary benefits, that may be accorded to employees as these are becoming increasingly popular in remuneration mechanisms. We understand that remuneration provides basic attraction…show more content…
This policy might state the base salary for each role in the organization, and it may also illustrate conditions under which pay raises will occur as well as any additional benefits to the employee from the organization. The benefits which may include but is not limited to annual bonuses and variable incentive payments. The policy reflects the company’s objectives for good governance as well as sustained long-term value for all the interested…show more content…
We ensure that no Individual is involved in setting up his or her remuneration reward. 7.4.8. We undertake to pay remuneration through a system that facilitates the adherence of applicable laws and regulations. 7.4.9. Total rewards comprise a fixed and variable component, the fixed component of our rewards includes a base salary, and benefits. 7.4.10. Remuneration policies, procedures and practices (collectively referred to as the ‘remuneration policy’) are consistent with, and promote the organizational values. 7.4.11. We encourage performance and staff retention. Staff retention is particularly vital because we seek to retain highly skilled workers that allow us to accomplish our goals as an organization. Therefore, paying them at a level to keep them satisfied and content, which is vital to retaining them. 7.4.12. Additional Hour's Rewards is paid to employees if they put in an extra hour of work for working at unsocial hours or for working long hours on top of overtime hours. These awards must be conceptually approved at the Director level or two levels of supervision above the employee of consideration, whichever is

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