MANAGING COMPENSATION WHEN UNCONTROLLABLE EVENTS OCCUR

| June 26, 2016

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The first thing to consider is whether or not the situation qualifies as one which should be addressed by special measures. Inflation of 15% to 20% is high, but if the increase is gradual each month then it might be possible to address it through normal compensation management, perhaps with an extra pay adjustment mid-year. But if the inflation rate were higher, say 25% or more, and the increase in inflation happened all at once (or over a short period of time), then special measures might apply. Devaluation is generally not a factor in determining salaries for local staff. However, high devaluation is normally followed by periods of high inflation, so it becomes relevant.

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The Noel Group

The Noel Group has over twenty years’ experience of recruiting the best candidates on the market for many of the world’s most prestigious companies, as well as some of Ireland’s best small to medium sized enterprises. In fact, since 1987, we have grown to become one of Ireland’s largest suppliers of permanent, contract and temporary staff with offices in Dublin (2 branches), Kildare, Waterford, Cork, Limerick and Galway. And we have been very successful! As recognition of our achievements, we were recently awarded a National Recruitment Federation Award for Excellence.

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