This Fair Wages Policy is designed to establish and maintain a transparent and equitable compensation system within ALOIS. The objective is to ensure that all employees are fairly compensated for their contributions, skills, and responsibilities, fostering a workplace that values and rewards talent, dedication, and performance.
ALOIS is committed to providing Equal Pay for Equal Work. Employees performing substantially similar work will receive equal pay regardless of gender, race, ethnicity, or any other protected characteristic. Salaries and wages will be determined based on job responsibilities, skills, experience, and performance without discrimination.
Compensation packages will be regularly benchmarked against industry standards and regional market rates to maintain Market Competitiveness, ensuring ALOIS attracts and retains top talent.
ALOIS will strive for Transparencyin its compensation structure. Employees will receive clear information regarding the factors influencing their wages, including performance metrics, market data, and company financial health.
Recognizing the importance of a Living Wage, ALOIS ensures that all employees receive a wage that meets their basic needs, including housing, food, healthcare, and education for themselves and their families.
Compensation adjustments will be based on Performance-Based Compensation. High-performing employees will be rewarded with competitive pay increases and incentives, while underperforming employees will receive appropriate support and development opportunities.
Salary and wage structures will undergo Regular Reviewsto accommodate changes in market conditions, economic factors, and business performance.
ALOIS will develop and maintain a comprehensive Salary Structurethat considers job roles, responsibilities, and market benchmarks.
Regular and objective Performance Appraisalswill assess individual and team contributions, informing salary adjustments and promotions.
ALOIS will ensure clear Communicationof the fair wages policy, salary structures, and performance expectations to all employees.
Training will be provided to managers and HR personnel on fair compensation practices, mitigating biases and promoting diversity and inclusion.
Non-compliance with this Fair Wages Policy may result in disciplinary action, up to and including termination of employment.
This policy is effective as of 2nd April 2021and will be reviewed annually to ensure its ongoing relevance and effectiveness.
