Nestle Total Rewards Policy Analysis

Compensation policy is known as a financial support system policy established under law to provide income, medical care and rehabilitation to employees for illness, injury, or death arising out of, and in the course of, their employment whether or not the employee was at fault. These benefits are claimed by the employees (or their dependents) as a matter of right and the employer cannot resort to any legal defence.
There are several reasons why compensation benefits are important. The compensation packages that businesses offer to employees play an significant role in the company’s ability to attract top talent as job candidates. Top-performing employees greatly impact the competitiveness and productivity of a business. Recruiters should research

The Nestlé Total Rewards Policy is aligned with Nestlé Corporate Business Principles and all other relevant Policies, Guidelines and initiatives.
Nestlé has a long-term vision of being competitive in the market place. In this context, the total “employee package” needs to be taken into consideration. All the components of Total Rewards have to be established in harmony with each other. Nestlé, therefore, is committed to periodically verifying that the lowest level of salaries and benefits are not just complying with local law, but are competitive in allowing employees to cover their needs according to local standards of living.
The first element of Nestlé Total Rewards is fixed pay. Nestle has a pay for performance culture which differentiate pay levels on an individual performance basis. Base salaries and wages are determined locally within the corresponding salary structure, which should be set at a level reflecting local market practices, slightly above the

Employee action plans are implemented to engage employees to perform better, fulfill their potential and to reach their long-term aspirations, taking advantage of the learning opportunities available. Nestlé encourages the recognition of special efforts for achievements, as well as the loyalty and long-term commitment of its employees, contributing to the overall success of the Company. Formal or informal recognition programmes aim to reward, on the spot, individual and teams’ contribution, usually without predetermined goals or performance levels.
Lifestyle and Wellness programmes, whereby, and wherever feasible, the Company endeavours to provide access to various forms of employee assistance programmes including dependent care, counselling, fitness centre affiliations, smoking cessation programmes, stress management programmes, health screenings and other workplace convenience services.
It is the responsibility of each manager to propose within the framework of the Company policy, the remuneration of their employees. They will also communicate the salary policy, decisions and the individual remuneration to each staff member, taking into account their performance and specific