一間大公司的compensation & benefit Department 係做的咩?

Compensation & Benefit Dept. is responsible for designing reward systems of an organization.

The pay of the staff working in this dept is whether high or low that might be depended on what the pay decisions of the organization are being adopted, however, the pay decisions no matter made for this dept, or for other line and staff depts. would consider these factors to set a wage mix:
The factors may include
(1) Compensation Policy--high, or medium, or low when benchmark to others
(2) Worth of Job--how relatively important to the company
(3) Employee's relative worth (degree of capabilities/skills/experience/qualification
(4) Employer's ability to pay--earning ability as most HK fund houses could pay yearly bonus for extra 8-10 months salary this year
(5)Condition of the Labor Market--demand and supply in labor market
(6)Area Wage Rates--coordinating wage rate scale with job worth in term of points (for example, below manager grades from S1 to S10, Manager Grades from M1-M5 and Director Grades from D1-D3
(7)Cost of Living--consumer's price indexes as reference
(8)Collective bargaining power--the power of labor unions
(9) Legal Requirements--possible legislation of the minimum wage

A Compensation and Benefit dept is an arm of HR dept should conduce pay researches by collecting the external information and coordinating with internal financial status of the company, to design a reward system in order to keep company elites and talent staff and reduce their turnover rates.

An effective reward system should be embedded with incentive schemes, variable pay, fringe benefits, of which some are monetary types and non monetary types for individuals and team rewards that could result in best performance from employees.

A C&B team typically conduct programs for employers and make position classifications.

Tasks in the team include collecting and examining detailed information about job duties in order to prepare job descriptions. These descriptions explain the duties, training, and skills that each job requires. Whenever a large organization introduces a new job or reviews existing jobs, it calls upon the expert knowledge of the C&B team.

The average salary of C&B team member is higher than other HR function because their job include substantial research and study on market external to the company. The keyword EXTERNAL qualifies them for a higher salary, just like salesmen usually enjoy higher salary than customer service staff.

C&B is usually one of the teaching modules in many HR course. If your personality is courius, analytical and systemetic, go ahead to specialize on that area.