Why the 3P Salary Calculation and Payment Method is Suitable for Every Business

Why the 3P Salary Calculation and Payment Method is Suitable for Every Business

3P salary is a popular concept in the business and human resources world, especially in the field of human resource management. Considered an effective salary calculation method, 3P salary focuses on three main factors: Position, capabilities and personal factors (Person), and work results (Performance). Let's learn more about this concept and how to calculate 3P salary.

The importance of effective salary policies in businesses

An effective salary calculation and payment policy is not only a business promotion factor but also the basis for the sustainable development of the enterprise. The 3P Salary Payment method is a powerful tool that helps:

  • Develop a reasonable remuneration policy, optimizing benefits for both employees and the business.
  • Establish a fair and effective salary structure.
  • Enhance employee engagement and productivity through compensation that matches their contributions.
  • Encourage a focus on quality work and minimizing risk to the business.

3P salary helps businesses grow

3P salary is a method of calculating and paying salaries based on three main factors:

P1 – Salary paid for position
Fixed salary based on general salary framework, not dependent on personal capacity. This is a popular salary mechanism, helping to reduce the work load for personnel.

P2 – Salary paid according to ability and personal factors
Salary depends on personal capacity and performance, motivating employees to improve themselves and increase work performance.

P3 – Salary paid based on results
Salary is determined based on actual job performance, promoting competition and effort.
Implement 3P Salary in the enterprise

Determine the appropriate salary framework: Review the organizational structure, analyze job descriptions, and survey market salaries.

Evaluate capacity and performance: Build a capacity framework, evaluate the actual capacity of employees, and use capacity assessment software.

Establish salary and bonus structure: Build salary structure, bonus policy, and plan to apply new system.

3P salary - effective human resource management tool

3P salary is not only a salary calculation method but also an effective human resource management tool, motivating and promoting business development. Applying 3P Salary requires initiative and comprehensiveness in human resource management, but will bring great benefits to businesses in the long term.

HR2B is one of the pioneering brands in Vietnam in providing professional payroll solutions and services for businesses. HR2B's services help businesses solve problems related to salary management, salary calculation, compulsory insurance management, personal income tax and labor relations effectively and accurately. Thereby, businesses can save the time and resources needed for these tasks, while ensuring compliance with legal regulations and protecting the rights of workers. If there is a need, businesses can contact to request services from HR2B.

Worth reading?
0 0 NAN 5 0

We are here to help.

If you are interested in speaking with HR2B about Recruiting, Payroll, Staffing outsourcing need.
Please reach out via email contact@hr2b.com.

Get in touch

Share on network
Top page