Chivas Performance Guidelines v.Jun 2018

5. Salary Review Process

Aim and Purpose

Chivas Brothers is committed to rewarding performance and providing competitive remuneration.

The salary review process is directly linked to the annual performance management process enabling the Company to recognise different levels of performance with different levels of reward. The Company also benchmarks jobs against similar employers and implements reward strategies to ensure employees are paid within an identified competitive salary range. When determining annual salary increases the company will consider a wide range of economic data and Company and Group performance. The Company typically intends the average salary increase to be on or around the national rate of inflation. CBL uses the services of a recognised remuneration database to benchmark salaries to determine the competitive rate of pay for each job. The competitive range will be centred on the average salary with an upper and lower limit either side of this. Salaries above and below the upper and lower limits respectively are regarded as being uncompetitive. The market for benchmarking will be national and multi-national UK based organisations from a variety of market sectors including but not necessarily limited to Food and Drink, FMCG, Pharmaceuticals, Chemicals, Oil and Gas. Our Approach to Benchmarking

Reward management consultants may also be used to benchmark specific roles and confirm and check that CBL data is up to date and accurate.

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