Salary is an amount of money which is automatically transferred to your bank account while in employment. This is the most sacred task of the employer. Small employers delaying salary have a bad market reputation. Salary is a neatly laid transaction, never given a thought. It is at the base of a complex technical & financial pyramid, which none of us imagine. Lots of financial perks & all sorts of leaves are also attached to salary. There is a vague generic perception that work & salary are connected, how they are, no one has ever tried to decipher. Might be there is no formula.
Work compensation at present is currently decided in private sector on the sector, years on the job, specific job, capability to bargain & running market rates. At the totally other end of spectrum are pitched the CEOs salaries into millions of dollars, stock options et al, has been debated upon for long. Might be it’s a job between being an employee & the management.
One would find it to be a totally far fetched thought: hundred percent salary means hundred work delivered. But this is just stating a simple logic that compensation is done for work done. Full work done means means a full salary. The rationality of salary has been explained in proposal after proposal and salaries get hiked accordingly. The labor laws have added to the woes. Salaries & financial perks kept adding up. The salary calculation has been neatly put in a formula, which is followed in letter & spirit.
But the consequent work done does not add up. Nobody has tried to devise both an objective & operational formula. All fellows, finally been graded as whatever, at the end of the year, draw the same salary the whole year. When hikes & incentives are for the better performers, what about the various categories of average or lesser performers. And how to do you calculate the underperformance in monetary terms & methods of deciding the quantum of salary accordingly. What is not measured objectively doesn’t get done.
ARE SALARY & WORK ALIGNED OBJECTIVELY; DYNAMIC & REAL TIME.