The Supreme Labor Council of Iran approved the minimum salary (minimum wage) as well as 1403 salary increase for workers
Tag: Service compensation
Adequate compensation system should be fair and able to meet the expectations of employees in proportion to what they do. At the same time, it enables the company to compete in the labor market to attract the most appropriate talents needed by the organization. This is one of the most delicate activities of business founders and managers.
The importance of each job leads to the identification of the job group. Then it is time to compensate for the service and pay fairly. Domestic justice envisages equal pay for equal work and equal conditions. But competition in the job market in attracting valuable capital and talent should not be overlooked. Payment should be considered as a variable in the labor market context that failure to do so will weaken the organization in attracting elites. It can also lead to the migration of trained company personnel to competitors.
To evaluate a proper service compensation system, it is necessary to consider the two factors of internal and external justice.
Internal Justice: Employees often compare themselves to their peers. They will be dissatisfied and discouraged if they see their income with equal conditions from their colleagues.
External justice: It is clear that fair payment is not the only way to pay people on the same level. Competitors are waiting outside to attract business talent. Therefore, external justice, ie payment based on the labor market, is also a determining parameter.
Hey Group offers one of the most advanced and tailored methods of job classification and service compensation in the world.
Service compensation is considered as one of the main and basic human resource consulting services that plays an important role in retaining human resources.
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RRC HR Training Workshops and Courses
HR Training Courses and Workshop in Iran — Hay Method, DACUM, …