3P Compensation Consulting

01/08/2018

Consulting

3P COMPENSATION BUILDING

3P Compensation is a system designed to pay salaries according to employee’s merit and performance in order to create fairness, encouragment in company helping each employee maximize his abilities in works, contribuiting to company development. 3P Compensation system consulted by BrainMark is built according to international standards, however, customized to fit with companies operating in Viet Nam.

P1 – Position – Pay for position
P2 – Person – Pay for Person (Competency- based pay)
P3 – Performance – Pay for performance
Building competency framework, pay rates
Converting out-of-date compensation system to 3P compensation system

BrainMark has been providing 3P compensation service to many foreign and local companies in Viet Nam which has successfully applied in their business. 3P Compensation system designed as follows:

tu-van-luong-3P

Part 1: P1 – Position – pay for position

Reviewing and advising organizational structure
Determing job title list
Analyzing job description
Building job qualifications according to position
Developing an equitble grading structure based on job title

Part 2: P2 – Person – pay for person

Building general competency, core competency, management competency, technical competency
Building competency framework with standards- based grading
Preparing competency questionnaire
Evaluating competency for employees
Applying competency evaluation software

Part 3: P3 – Performance – pay for performance

Setting company and department strategic objectives
Setting personal targets
Building personal KPI
Setting compensation & bonus plan according to month/ quarter/ year

Part 4: Building pay structure, pay rates

Designing pay structure, pay rates for company
Building compensation & bonus policy
Interviewing personnels for appropriate pay arrangement

Part 5: Implementing 3P compensation system

Matching pay structure, pay rates to employee
Mock applying 3P into system
Fulfilling compensation & bonus policy
Planning to apply the new system

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BrainMark Consulting & Training

596 Nguyen Dinh Chieu St., Ward 3, District 3, HCMC, Viet Nam

Hotline: 0909 363 363

Email: consulting@brainmark.vn

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3P Compensation Consulting