PRICING MANAGERIAL AND PROFESSIONAL JOB
Organisations choose executive compensation packages, consisting of basic pay, perquisites, stock options, allowances etc., depending on a number of factors. The United States Compensation institutes' Phoenix plan utilizes 28 compensable factors:
Box : Phoenix Plan-Compensable Factors
- Job associated experience
- Time spent in planning
- Training time needed
- experienced
- Contact with suppliers/customers
- Frequency of review of job
- Affect on departmental budget
- Utilisation of independent alternative
- Directing of others.
- Regularity of reference to guidelines
- Training of staff/physical stress
- Regularity of work transferred through
- Time spent working under deadlines
- supervisor
- Analytical complication
- Time spent in risky conditions
- Time spent in processing information
- Supervisors reporting to position standard
- Travel outside work location
- Salary grade on which this position reports
- Salary grade of positions supervised
- Management responsibility
- Asset size
- Revenue size
- Budget size
- Employment size
- Payroll size
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The Hay Group, another specialised US Agency, utilized three compensable factors: problem-solving, accountability and know-how. Sibson & company determine base compensation based on the market value of the job, in the organisation its relationship to other positions and the person's value to the organisation depend on long-term performance & experience. The Compensation Survey Report of company Business International Asia - Pacific Lmt., Hongkong considered the following factors to decide executive compensation:, experience, education, need to negotiate, scope of activities , decision making authority, kind of problems handled, influence on results, number of people supervised, size of the unit managed, number of reporting steps to the head of unit.