Answer to Question #283299 in Management for Ribasshni

Question

Board of directors play an essential role in ensuring a goal the company is able to meet. As such, the remuneration should be consistent with the Board's job description. This is to motivate the board to work harder, particularly with regard to effective planning and strategy. Board of Directors requested that it be possible to have better remuneration as the market is a complex and more work is needed.The Remuneration Committee does not agree with the Board's request to increase the remuneration. You are part of the board of directors which is less satisfied with respect to remuneration. You are responsible to come up with a remuneration proposition. However, the Remuneration Committee on behalf of the company does not agree with the Board's request. The Chief Executive Officer (CEO) has scheduled a special meeting between the Board of Directors and Remuneration Committee to discuss these issues.

1) Explain why the remuneration should be increased, specifically the salary and allowance. 

Answer 1

Increased remuneration can assist in attracting pinnacle first-rate applicants and make present team of workers happier and extra effective. Extra allowances like bonuses and holidays can incentivise performance and maintain key body of workers for longer as well as attracting extra proficient personnel.

It's critical to provide personnel boost on a regular basis as it suggests which you value them and their contributions to the agency. A simple pay enhance can increase morale, increase worker satisfaction, and encourage tough work.