An annual salary system is in place to reward employees for their capability and performance. The system ensures that every employee is treated according to his or her merit and contribution. Also, appropriate incentives for performance are provided through a reasonable performance assessment system.
Initial salary is determined based on employee’s position and work experience.
Every year, each individual’s performance and capability are evaluated in a reliable manner and the score determines the annual salary increase and wage payments..
Incentive is one of the performance-based elements of compensation which are determined by evaluating performance against business goals in an objective manner. It aims to focus employees’ efforts on key objectives.