What is a Competitive Salary
The competitive salary is a goal of many managers in the organizations. They believe the competitive salary will allow them to live their own business life more easily and the management effort and daily stress will get lowered.
The competitive salary must be taken as a whole complex of:
- corporate culture;
- provided benefits;
- market competition;
- career opportunities;
The competitive salary has also to take into the account the proportion between the base salary and variable part of the total cash. Many companies offer the competitive total cash, but their proportion between the base salary and bonus push the employees among their potential performance.
The competitive salary is a myth. The competitive salary must be taken as the mix of the corporate culture and career opportunities. When you take the best employers as they are seen by the people, they usually do not pay excellent salaries, but they offer a good mix of the corporate culture, personal recognition and career opportunities.
The competitive salary is a unique position of the organization on the job market. The competitive salary is a complete and unique mix of the correct ingredients, which makes the organization attractive to its employees and potential job candidates.