Staff Compensation, Benefits and Job Evaluation Policy

Staff Compensation

Internal Equity: is achieved through internal information obtained through the evaluation and classification of position, based on a previous program description and analysis of the position.

External Balance: is achieved through external information obtained during the investigation of wages.

Compensation Principles

With this information (internal and external), the organization defines a wage policy to standardize the procedures for determining staff remuneration:

1. Reward each employee according to the value of their position.
2. Adequately reward them for their performance and dedication.
3. Attract and retain the best candidates for the offices.
4. Increase the flexibility of the organization, giving staff mobility and the possibility of development.
5. Ensure employees accept the compensation adopted by the company.
6. Maintain balance between the interests of the organization and its employee relations policy.

Job Evaluation Systems

Charges Assessment Systems: The process of analyzing and comparing the content of the position in order to place positions in a hierarchical order, which forms the basis of a remuneration assessment system. The job evaluation is a means of determining the relative value of each position within the organizational structure.

Social Benefits System

Benefits required by law: Benefits required by labor law, social security or collective agreements with unions include:

• Annual premium
• Holidays
• Pension
• Work injury insurance
• Sick-pay / Sick-help
• Allowance
• Maternity pay
• Overtime
• Night work surcharge

Relief Plans

Relief Plans: Benefits that seek to provide the employee and their family with some security and welfare conditions in cases of unforeseen circumstances or emergencies, which are often beyond their control or will. These include:

• Hospital and medical assistance
• Dental care
• Financial assistance through loans
• Social services
• Complementation of the pension
• Wage supplementation during prolonged absences due to illness
• Collective life insurance
• Personal accident insurance

Recreational Plans

Recreational Plans: Services and benefits that seek to provide employees conditions for rest, entertainment, recreation, mental health or leisure. In some cases, these benefits also extend to the employee's family and include:

• Recreational or club association
• Rest areas during work intervals
• Ambient music
• Sports
• Scheduled tours and excursions