All organisations, regardless of size, benefit from a remuneration policy, whether remuneration is set by award, enterprise agreement or common law contract. Benefits include:
- consistency in remuneration-related decisions
- transparency in the process for setting remuneration
- employee satisfaction as they know how remuneration is set and what assistance is available
- guidance and support for managers when determining remuneration decisions
- guidance and support for managers on avoiding bias
- contributes to a sound and effective risk management plan.