OREANDA-NEWS. October 13, 2010. The current challenging economic environment has increased the effectiveness requirements of human resource management.

The "human factor" gains a major importance in the development of any company. However, taking into account the cost-cutting strategies adopted by businesses within the frame of the global economic downturn, the current approach to salary and remuneration-related policy in the market is varied and even contradictory.

It seems to be obvious that the salary and remuneration review should be performed based on an adequate knowledge of the market's salary system at a specific point in time. Correspondingly, the forth straight year PricewaterhouseCoopers conducts the PayWell Moldova - Salary and Benefits Survey, which represents an extensive research on the remuneration and staff benefits policies for companies present on the Moldovan market - a tool that comes to offer solutions and interesting approaches in this respect. The Survey can help companies’ management to find effective solutions for optimization of their HR processes thus helping them to achieve desired business success through their own employees.

The survey analyzes and compares salary and benefits strategy systems of the major companies active on the Moldovan market, such as: Moldcell, Coca Cola, Efes Vitanta, Orange, Lafarge Ciment, Red Union Fenosa, Moldtelecom and other and summarizes a total number of 10,274 employees and 399 analyzed job positions.

PayWell Moldova 2010 is recognized as a useful tool in attracting and motivating employees by company’s management and allows HR professionals to develop competitive policies for their employees, considering the existing market challenges. The depth and spread of the report, its tenure and the number of organisations involved make PayWell Moldova the number one thought leadership instrument available on remuneration in the Republic of Moldova.

The Survey will give you information on the following:

1. Salary data
The salary data is presented in the following format:

Mean, median, lower and upper quartiles, 5 and 95 percentiles for the following values:

Monthly gross base salary;

Annual guaranteed cash (monthly gross salary x 12 + fixed bonuses);

Variable bonuses;

Annual total income (monthly gross salary x 12 + fixed bonuses + variable bonuses).

Information on the number of job holders and the number of companies that provided data on each position;

Main benefits offered per position.

2. Compensation and Benefits policies

Compensation policies section: information on wage policies, employment relations, salary negotiation, salary increase, fix and variable bonuses, holiday policy, retention programs and relocation packages;

Benefits systems section: information on the benefits offered by staff category, usage policy and costs.

3. Tools

Interactive tool
The survey provides an analysis tool that will enable you to select a specific sample of companies by using multiple criteria:

company size
company turnover

The interactive tool will help you benchmark better with your reference market.

Market positioning reporting tool

The survey also provides a tool that will enable you to compare your salaries against sample statistics. The tool calculates the proportion of your salary as compared to sample statistics and generates an output that positions your salary within the range.

PayWell Moldova 2010 supports to implement new and valuable solutions on the compensation and benefits systems.

PricewaterhouseCoopers (www.pwc.com/md) provides financial audit, tax and business advisory, specialized in different sectors to create a climate of trust and generate more value for its clients and their stakeholders. More than 163,000 employees in 757 cities in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

PricewaterhouseCoopers refers to the member firms of PricewaterhouseCoopers International Limited, each of them is an independent legal entity.