PAY FRAMEWORK

Pay Framework



Pay Framework - Figaro

Overview of the company

Figaro is a growing fund management company based in Edinburgh. The business employs around 58 people, 37 permanent members of staff, not including directors and the rest are contractors. As a small business, which is experiencing steady growth, the newly appointed HR Director has brought you in, as a compensation and benefits specialist, to devise a more formal pay framework and advise on any associated costs.

Pay structure of Figaro

The pay framework for Figaro has been developed after considering the current spot rates and market median for the respective job.

As the CEO looking for a salary framework based on performance related pay and serious attention and alternation to the annual company bonus to a bonus based on individual performance. Hence, the data of employee where same post are giving higher pay than the market median and some are getting much less pay of the Market Median (William J., 2007, pp. 16).

Distribution of posts at Figaro - positional levels and categories

Level

Category

Positions in the head office

Positions in regional offices

A

Higher-management

A.1.

Fund manager

A.2.

First Deputy General Director, Deputy General Manager

B

Senior Management

B.1.

Managing Director, Director for directions

B.2.

Chief accountant, deputy director of the direction, the direction of Director-General, Director of the Department, Director of the Treasury properties, Manager

Branch Director

B.3.

Deputy director of the depart-ment, head of department, deputy chief accountant, regional manager

Deputy Branch Manager, Chief Accoun

C

Middle management

C.1.

Deputy Head

Head of department, deputy chief accountant of the branch, the head of an additional office

C.2.

Head of Department, Head. Insurance Fund, the adviser

Deputy Head, Head, Head. cashier

C.3.

Deputy Head of Department, Team Leader, Secretary of the Board

Team Leader, Deputy Division Chief, Advisor

D

Key staff

E.1.

Chief Specialist, Senior Expert, General Counsel, Chief Auditor

E.2.

Senior Specialist, a leading expert, the chief legal adviser, auditor, training manager, senior manager

E.3.

Specialist, senior clerk, secretary, legal counsel, experts, administrators, senior collector, manager, senior guard

E.4.

Cashier, teller, cashier, accountant, mechanic, engineer, assistant manager, head of the archive agent MTS, collector, guard

E

Support personnel

E.1.

Assistant Specialist, clerk, an archivist, a driver, a security guard, a technician in the building, the technician, assistant, storekeeper, energy, electrical

E.2.

Courier, a worker, janitor, cleaner

Level

Description of

A

Is responsible for the company performance in general, errors in work can lead to a loss of stability or collapse of the business.

Work is related to the huge task of high complexity, diversity and innovation, policy and business development strategy, the majority of independent decision-making.

It requires a very high level of theoretical training on a wide range of issues, higher education, and additional specialized training, management skills and experience of five years

B

Responsible for the results in a separate direction or group of functions. Incorrect work may result in significant losses and affect the part of the business.

Work related to the solution of major problems within a particular direction, the majority of which are characterized by a high degree of complexity, diversity and innovation. Most decisions are made independently, in accordance with approved policies and strategies.

Requires a high level of theoretical training in several fields of knowledge, higher education, management skills and experience of three years.

C

Is responsible for the performance of an entity, project, or ...