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Annual Compensation and incentive schemes

Posted by Tahir, Muhammad at Saturday, 04/28/2012 3:11 am
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2.5 from 24 votes
5.5 In addition to the monthly salary, few benefits are also provided to the employees on an annual basis, such as leave fare assistance and bonuses. Market practices indicate that the amount of leave fare assistance is generally equivalent to one gross or basic salary of the employee.

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As far as annual bonuses are concerned, generally it depends upon overall corporate performance. The bonus represents an additional source of income to meet employee’s occasional expenses, such as Eid festivals, etc. Moreover, it also provides a source of capital accumulation.

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With the passage of time there has been an increasing trend towards performance based compensation, which includes both increases in productivity and cost-saving bonuses.

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