We've compared several structures in a previous post. Either you attract them with a huge basic pay, additional allowances and benefits or even bonus schemes to include profit sharing. Ah, let's not forget the number of leaves or PTO (personal time off) employees are entitled to.
What is my recommendation?
When we rolled out the new structure in the company, not everyone was happy. It only benefited those that are either married, single parents or the bread winners. Since we had a big percentage of employees that were single, this didn't entirely work.
One thing you need to understand is the spending habits and needs of the employee. If you were single, then a huge basic salary is more enticing. For those who have dependents then benefits would be the clincher.
The point here is to offer 2 options to an employee. You can include the usual allowances and bonus schemes but let them choose what they prefer. Better yet, once their life changes, then adapt to this change.
They would appreciate it and will think twice before they hop to the competition. They feel the company cares for their welfare. This is when it becomes a great retention tool.
This may be absurd to most HR professionals, and it may seem unorthodox due to logistics and efficiency, but if you make the right calculations, your bottom line will improve and realize you can focus on the business instead of trying to address attrition daily.
» What is a Good Pay Structure? Let’s Compare. from CallCenterScript
In the world of outsourced call centers, especially in India, Philippines or Latin America, most agents join the industry because of its high pay structure. We’ve heard this story before.But, with the tremendous competition for the labor fo... [Read More]
Tracked on: February 8, 2008 4:50 AM | Permalink to Trackback