Human Resource Management In Singapore - The Complete Guide, Volume B: Work And Remuneration

Book excerpt: 'Human Resource is our most precious asset. Progressive HR enhances human capital. Regressive HR depresses it. HR practitioners are entrusted with heavy responsibility. They must equip themselves with the knowledge and skills so that they could multiply the human capital under their care. This HR management series is timely. It is written in the Singapore context guided by our local employment laws and tripartite guidelines and standards. I commend the authors for their endeavour to produce such a first.'Lim Swee SayFormer Minister for ManpowerFormer Secretary General, National Trades Union CongressHuman Resource Management in Singapore — The Complete Guide covers a wide spectrum of human resource management topics in five volumes: Employment Management, Work and Remuneration, Employee Benefits, Performance and Development, and Employee Conduct and Relations. In every chapter, the WHY, WHAT and HOW are presented lucidly. The books are a must-have GPS for any human resource practitioner in Singapore. Students, academics and bosses into human resource management as well as overseas human resource practitioners will also find the books helpful and instructive.Volume B on Work and Remuneration deals with regulatory provisions and practices on working hours and payments for overtime and work on rest days and public holidays. The primary takeaway is a comprehensive cover of salary design using the principles of pay positioning and pay mix. Salary instruments including salary ranges, increments, allowances, fixed and variable bonuses, sales commission and gainsharing incentive plans are explained. Readers are guided through salary interventions such as salary adjustments, deductions and cuts, as well as salary survey and benchmarking, and salary administration and governance. The last chapter discusses how to manage and raise the wages of lower-wage workers, a very pertinent topic in Singapore. This volume will equip readers with salary concepts, insights and practical pointers to design and manage a salary blend that will support an organisation's talent strategy.