A company’s pay policy is successful if it attracts, retains and improves the performance of employees in an economic and equitable way. The primary concern of all HR professionals is to achieve a good return from human capital – thus ensuring that payroll costs do not adversely impact upon company profitability.
Multinational Salary Planning Reports
The MSPR provides companies with comprehensive guidance on how to to determine pay levels, take into account non-monetary rewards and use survey data. It contains a simple formula to derive “ability to pay” estimates and useful pay data from around the world, together with country updates and current levels of statutory minimum wages in Europe and the rest of the world.
FedEE Job Evaluation and Pricing System
Our on-line ‘JEAPS’ system may be used to tailor a search for salary benchmarks according to more detailed features of a job and the sector in which it operates. The job evaluation process involves selecting a series of options from a typical job description and normally takes five to six minutes to complete. These include inputs such as required education, training and experience and then job size variables such as accountability, time span of discretion, number of people supervised/managed and physical/managerial risks. Once you have specified the company’s size, economic sector and location, the system will generate a pay midpoint and ranges for the relevant country marketplace. No special training is required and members have free and unlimited use of the system. The system is being upgraded and from Autumn 2017 will also contain data for selected countries outside Europe.
Dernières nouvelles – the Global HR newswire
FedEE reports on pay developments around the world through the Dernières nouvelles newswire, which is circulated to members twice monthly. We also produce practical guidance notes on such issues as expatriate housing costs, comparative living costs and income tax across the world.
More than half of all European countries maintain a statutory minimum wage system. The rates set by national governments, however, are often at or below subsistence levels and therefore may not always be a realistic guide for setting company pay levels. FedEE maintains a table of statutory adult minimum wage rates in Europe which is updated on a regular basis. Members also have access to table of minimum wage rates for a number of countries outside Europe.