A
major but often neglected asset of an organisation is its human workforce. It
is so because mostly the qualitative work by the workforce is difficult to be
quantified. As a result, it becomes an intangible task to determine one’s
appropriate remuneration and justify the same. As a guideline, there exist
official tribunals set by law of the land to supervise the remuneration related
activities of all organisations. They overlook the entire remuneration process
of an organisation. In case of new ones, they have to put up remuneration
tribunal submissions in order to announce the norms they
will follow. In case of unjustified cases, the tribunal may intervene.
It is
important to have a central tribunal to look into such matters form an integral
part of corporate governance. Not only all governmental organisations follow
the guidelines of such tribunals but also most big corporate houses take cue
from them to form a transparent salary structure for the employees that are
based on strategic human resource planning. Such planning not only ensures less
attrition rates but also improves the quality of work and level of
satisfaction. Making sure that the workforce does not waste their time looking
for alternatives but concentrate on their work is important for any organisation.
However,
the interest of the organisation also is taken care of. It is ensured that the
workforce is disciplined and abiding by instructions. In case of deviations,
there remains room for appropriate action. Especially in service oriented job
profile, the human workforce is prone to make mistakes and delay. Such poor
quality of work is addressed properly in line with tribunal recommendations.
Having
such guideline in place provides mental and financial security to the strategic human resources. They know where to go for in case of disputes regarding
remuneration. With well set guidelines, it hardly takes time to settle such
issues down fast. Thus a very efficient, transparent and believable system can
be set up by government organisations and private players if you have
remuneration tribunals helping you in strategic human resources planning. Most
of the countries have set up their own such tribunal or are taking help of the
already existing ones to develop the norms.
