The Salary Talk Show
– The Compensation Conversations –
Ms. Natasha Suri – Assistant Manager, Marketing
HR Head @ Market Analysis India Private Ltd. [MAIPL]
Salary negotiation is a prerogative of Human Resource Function. HR must negotiate the salary by remaining within the four walls of approved manpower budget of the year. Compensation, Salary or Cost-to-Company [CTC], call it by any name & form, it is beyond the cash component paid to the candidate. CTC is inclusive of cash and non-cash, direct and in-direct, short-term and long-term components of salary.
Ms. Natasha Suri works with CRDC as Assistant Manager – Marketing and has a total work experience of over seven years. Having worked for Central Research and Development Company [CRDC] for over FOUR years, Natasha Suri wants to explore challenging job responsibilities.
She has cleared her technical interview with Market Analysis India Private Ltd. [MAIPL]. Her pre-hire assessment report shows that she is a right fit for the role and now she is in the final interview to discuss about joining dates, location of work, etc.
Compensation Conversations with the HR Head @ MAIPL
Expectations – Does it make any sense!!!
Could be a meal on the Mars to a ride around the globe. Expectations can be anything under the sky. Sounds crazy isn’t it. Might be for the HR Head…..not Ms. Natasha Suri…..for her it’s just EXPECTATIONS. A situation that’s experienced by many in the careers.
Then what is the best way to understand the Realistic Expectations. Realistic being the crux of the preparation of Talent Sourcing Strategy so that it makes a sense.
The Simple Answer…..
- Spend some time in creating manpower or workforce plan for the year.
- Be ready with – Detailed Job Description, Approved Budget for Position, and Title of Position.
- Budget for a position does not only include CTC but also cost of traveling [either by candidate or by interviewer(s)], fee to be paid to sourcing agency [recruitment consultancy, Job Portal, Referral bonus, etc.].
No Job description, Budget and Job Title are surely going to create unsatisfied employees. This leads to a poor work culture, negativity among employees, high attrition rate and the HR becomes a bunch of joke in front of prospective as well as the management at large.
What do you think?
- HR and the company management is responsible for employee dissatisfaction because they hire new employees without having pre-approved budget and plan in place?
Composed by: Sanjeev Himachali