Compensation & Benefits



Compensation & Benefits

Company Objectives and Demographics

Objective of TechnoX

The success of TechnoX as a business firm based on its customer orientation, due to which company's sole objective is to ensure greater satisfaction of our target market through our relentless effort towards enhancement. TechnoX most attempts are considered towards comprehensive research and development in order we can offer innovative and exclusive products as well as services with high level of technical expertise.

Demographics of TechnoX

TechnoX is an innovative technology firm, established to offer unique as well as superior quality products and services to our customers. Therefore, the industry we will serve is a technology industry, where we will serve middle to high income earning individuals who are interested in spending exclusive technology products and services. Initially the company will employ around 2000 to 4000 employees, however, eventually we will expand our business internationally to serve global market, thus will increase business size in terms of employees. TechnoX currently include centralized decision making, while having four levels of employees: Top Executive Level, Managerial Level, Sub-Ordinates, and Clerical Staff.

Compensation and Benefits Strategy and Philosophy

The compensation and benefits strategy and philosophy of TechnoX involves equitable, motivating, and legally defensible compensation and benefits system that enable the company to attract as well as retain superior talent. The compensation and benefits strategy of our company includes the designing of job-based, team-based, and competency-based salaries as well as total compensation framework for all level of employees. Additionally, TechnoX human resource department has developed executive compensation and benefits scheme that provides our business the competitive edge we seek.

Specifically, HR of TechnoX has developed a total compensation plan strategy that supports the strategic goals and business imperatives of the firm. Further, the company has also developed a job evaluation survey in order to identify the comparable worth of all positions in order to classify jobs. The compensation and benefits system is developed after gathering and analyzing market data in this area through customized benchmarking studies and industry specific salary surveys. Analysis of market data well as comparable data integration is used to come up with salaries and benefits recommendations that can accomplish internal as well as external equity.

Two Job Descriptions from Different Levels of the Company & Its Analysis

Chief Executive Officer (Top Executive Level)

Chief Executive Officer (Top Executive) of TechnoX devises policies as well as strategies in order to ensure the accomplishment of organizational goals. ...