It is common practice for the Managing Directors and Executive Directors employed to have their remuneration fixed by the Board of Directors.
The Corporate Governance guidelines requires that good quality information on prevailing remuneration levels and trends be made available to the Remuneration Committees of public listed companies. The role of information provider has been undertaken by consulting companies who have depended on a variety of practices.
ICC Consultants designed and established a database on compensation by capturing market changes and trends as they occur.
This database enables participating organisations to draw up-to-date information continuously when needed.
We provide quality remuneration information based on factors which are considered good remuneration decision making:
The basis of comparison
Job title comparisons are clearly inaccurate because the use of job titles is not consistent. Since the early 80’s, job measurement has been conducted in Malaysia, and job size(or job worth) is a better comparison. In this regard, the ICC measurement method which is Weber’s law compliant is the current best practice.
Total Remuneration Information
Base salary and all other elements of total remuneration such as working conditions, workplace benefits, facilities and career development opportunities are usually important considerations too.