Perquisite
Created Sep 18, 2024 (06:09)
by Bruno lorenzo Spinelli
Definition
Non-cash benefitsand privileges, which an employee receives from his employer during the course of employment, for example a company car or a mobile phone.
Promotion
Created Sep 18, 2024 (06:09)
by Bruno lorenzo Spinelli
Definition
Promotion is an increase of responsibility/scope of the role or complete change of the role (move to another pre-existing position). In any case promotion is justified with real business need and must result in a significant increase in value created by the Person promoted.
Promotion usually is accompanied with an increase of compensation, but it is not required.
Promotion does not require increase of Job (S) Grade! "Same grade promotions" are common in cases when scope/ complexity change is not significant.
Job (S) Grade should change only in cases when scope/ complexity and accountability factors change significantly and in acordarnce with Solvay Generic Job Descriptions.
