With Asia’s talent scarcity, it is crucial for organisations to create a total rewards package that provides a balance between market trends, company needs and employee expectations.
According to Lilach Sela, vice president of global compensation and benefits of the human resources division at Amdocs, this is a primary challenge for C&B specialists as it is directly affected by in-market economic factors.
“Our model includes fixed elements (base salary), and variable elements (cash and non-cash incentive plans).The latter supports the pay for performance principle,” she says.
“We believe that by giving employees incentives, we will succeed in attracting high-caliber talent, retaining good employees and motivating our workforce.”
Sela adds cash incentive plans should always be aligned with what is acceptable in the given market, applied to the relevant target employee population, always support the company’s business goals and be simple to understand.
“Non-cash, long-term incentive plans are usually global but should also be aligned with local trends.”
Sela will be making her first appearance in Singapore at Benefits Asia 2013 on the 23-24 October, at Sheraton Towers in Singapore.
Sela has been working at Amdocs for 13 years, and was assigned to set up and manage the global compensation and benefits unit for their employees worldwide in 2002.
She heads the team responsible for developing strategies and policies pertaining to C&B, ensuring they are aligned with the business strategy. She also guides HR at local Amdocs sites across the globe to create C&B plans which conform to best practices and global standards.
Before joining Amdocs, Sela worked as a senior economist at the Ministry of Finance of Israel.
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