We offer our customers to provide fair and competitive compensation packages to recognize and reward its P&S employees within the boundaries of financial feasibility. We will regularly assess compensation levels for market comparable and will conduct salary surveys to periodically adjust the salary structure and pay ranges to remain competitive.
In assigning an appropriate grade to each position Human Resources evaluates each position to determine its worth relative to the market (external equity) and other positions within the organization (internal equity). The evaluation procedure is standardized to maintain consistency throughout the organization.
What is so special about the way we, at Noa, build a wage policy?
The process of determining the salary level for each position includes several steps:
1. Collecting data on market wages and determine the desired number of wage levels
2. Design jobs – collecting data on the different jobs based on performance improvement approach
3. Evaluation of jobs – calculating the level of complexity of the job based on DOT Methodology
4. Norms design – setting range of complexity scores for each salary level
5. Place each job in the organizing to the appropriate salary level based on it’s complexity
Job complexity is strongly influenced by mental demands and information processing requirement placed on a job (wood, 1986).