HCM – Salary & Benefits Planning
As job seekers, individuals look for organizations that best suit their skills and career goals while also offering the most attractive employment package.
A salary is the agreed upon payment that an employee receives for the day-to-day tasks they do at their employers. This can be on a bi – weekly or monthly payment as per the contract. On the other hand, employee benefits are composed of compensations employees receive on top of their monthly salary. This can be in the form of medical insurance, paid leave, life insurance, retirement benefits or the option to become a shareholder in the company.
VIZIO’s Solution Summary
While developing our rapid deployment template for salary and benefits planning, the team at VIZIO was able to tap into their years of on hands experience to develop a model which would link an employee’s performance with the benefits received. This model in turn, helps to ensure employee engagement and retention. By increasing transparency, employers have a clearer picture to make well informed decisions.