How Remuneration Is Determined in Csr

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How your Remuneration is Determined 1. INTRODUCTION CSR staff are paid an annual salary, along with company superannuation contributions and annual leave loading. In the case of senior staff, the salary and benefits are combined as a remuneration package. The processes for determining annual salaries and fixed remuneration packages in CSR are the same. All references to "salary" in this document relate equally to both salary and remuneration package. Senior staff however, should also refer to the document "Guidelines for Packaging of Fixed Remuneration". Salary decisions are based on market data, individual levels of contribution to the business and level of Individual salaries reflect personal skills, experience, level of…show more content…
Whilst the normal range of salaries for each job grade is 80% to 120% of the job salary, individual salaries may in some circumstances be set above or below this range dependent upon the job market for specific regions or job categories or upon the individual's level of experience or length of time in the job. 4. SETTING YOUR SALARY Annual Salary Review In CSR, it is current practice to review all staff salaries once a year with any adjustments to take place from 1 July. The purpose of the review is to ensure that: • the average salaries paid to CSR people remain competitive with the market rates • salary relativities between individuals are fair, having regard to factors such as individual contribution to the business, level of performance and any changes in job responsibility in the previous year. The CSR Board approves the money to be allocated for salary increases taking into account various factors including the "job market", where CSR should be positioned in that market and the company's performance. As a result, job grade salaries are revised and guidelines for the review are prepared. Setting individual salaries A number of factors are considered when setting individual salaries. Managers consider the amount of money available to the business for salary adjustments, the revised salary/remuneration package midpoints and each individual's contribution to the business. In
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