OUR
OFFICERS – THE MANAGEMENT BOARD
OUR HUMAN CAPITAL MANAGEMENT
POLICY
James Wanderi
Kairu (CV) & REFERENCES
PAYROLL MANAGEMENT
This
section concentrates on performance-related pay, which will be used to reward
all those from the boardroom to the shop/construction floor, both professional
and manual staff of ALKEBULAN. The introduction of a performance-related pay
system is an important system of performance management. A performance related
pay scheme is one, which provides for payments to individuals based entirely on
their teamwork.
The
term performance related pay is often used to refer to all the many ways in
which performance and pay will be linked in order to
motivate people at work to improve their performance. Performance-related pay
will be distinguished as a system that seeks to enhance individual performance
against specifiable criteria as well as taking individual characteristics into
account. It will sometimes be referred to as merit pay and the rationale behind
it will be that non-output related performance standards are introduced by
providing goals for individual workers to strive for. Performance-related pay
will be the explicit link of pecuniary reward to individual, group
or company performance (or any combination of the three).
More
specifically performance-related pay will link additional payments, over and
above the remuneration, to a contribution outputs and skill assessment of an
individual’s performance within a team environment. Each team will be set
targets or objectives at the beginning of the month, quarter or year and will
be then assessed on them at the end. Depending on how well it has performed,
the team members will be awarded a sum of money, which will be paid on top of
their salary. The advantage of performance-related pay will be that it will
embrace the notion of both increases in pay and of the movement of pay across
and up pay bands and scales.
Performance-related
pay will link pay progression to a performance rating which will be carried out
during a performance review at different times and normally provide for an
increase in base pay which will be governed by a rating against such criteria
as performance and competence inputs. Commonly known as achievement bonus, this
system will reward individual employees on the basis of
ratings carried out on the team’s performance.
This
team-based performance-related pay will operate through a formal performance
management system, which will be used to establish the linkage between the
performance of individuals as a team and the performance of the ALKEBULAN as a whole. The rationale for performance related
pay will be to improve the performance of ALKEBULAN through motivating
individuals to improve their performance through teamwork.
This
system will achieve its objectives through
1) Motivating all people in ALKEBULAN
2) Focusing attention on the key areas which will improve overall
performance
3) Communicating information about the performance targets of ALKEBULAN
4) Helping ALKEBULAN become more results or performance focused
5) Supporting existing cultures or values, which are already
performance, oriented
6) Emphasizing the importance of team work as well as individual effort
7) Improving recruitment and retention of high-quality employees
8) Ensuring that the pay bill varies in line with performance
A
formal performance management system will very often determine the success of a
performance-related pay scheme especially one in which individuals will agree
on work targets or objectives and their performance will be assessed in the
light of their achievement in relation to those targets. The quality of the
links to be established between performance-related pay and formal performance
management systems will be crucial to the issue of raising organizational
performance and therefore crucial to the success of performance-related pay
systems if their declared objective is to improve organizational performance.
Clearly
in such circumstances, the link between individual performance, team
performance and organizational performance as a whole will be critical. For
individual performance to impact positively on organizational performance the
link between the two will need to be direct and self -evidently so. The team
will be the only link that directly impacts both the individual performance and
the organizational performance and its absence will have adverse effect to both
the individual and ALKEBULAN. It will be through the team that the individual
will relate with ALKEBULAN and the reverse will be true, ALKEBULAN will only
relate with the individual through the team.
The
assessment is carried out through Company’s Strategic Office, which will
use appraisals of the team done by three different teams superior, equal and
subordinate to the team under assessment. These appraisals will then be scored
and the HR Office will award the points as shown in the matrix below
THE ACHIEVEMENT MATRIX
|
Team Contribution |
Team Score |
Increment (%) |
Stars |
|
Par Excellent |
80 = 100 |
30 |
3 |
|
Excellent |
60 = 79 |
20 |
2 |
|
Good |
40 = 59 |
10 |
1 |
|
Fair |
20 = 39 |
0 |
0 |
|
Average |
0 = 19 |
0 |
0 |
Those
individuals whose team performance will be outstanding will be awarded at least
30 per cent and those whose team performance exceeds the targets may expect to be
awarded at least 20 per cent. Those whose team performance will be just above
the target range may expect to be awarded at least 10 per cent while those with
lower team performance will be hardly worth giving anything. Integral to the
achievement awards will be a personal development plan, team building plan and
a business focus plan. Formal performance review will take place twice every
month and employees will be coached continually. At the formal reviews
employees will receive feedback on their team performance and objectives may be
revised in the light of changing priorities. Employees must also be made aware
of the performance criteria and the standards they have to
meet. All documentation will be made available to the teams concerning their
appraisal and final performance ratings so that they decide the best way in
which they can improve their performance. In the end, the team members will
have to figure out the best method for improving their performance and to
determine the problem among them.
This
will enable individuals to discipline and support each other for the common
good and thereby enhance their integral contribution to the whole organization.
However, the reality is that many people work together with other individuals but they are not necessarily teams. It will be
therefore important to understand the intrinsic nature of teams and team
working.
The
members of a team will have the following characteristics that are integral to
the team namely purpose, possession, preservation, position, price, process, production and play.
Purpose
means that they will have a common goal and purpose.
Preservation
means that they will have a common front and voice.
Position
means that they will have the same identity as that of the team.
Price
means that they will accept accountability for the other team members within
their team and personally will undertake responsibility for the team’s
performance.
Process
means that they will have a common way for getting the desired results.
Production
means that they will have a common activity toward the desired results.
Play
means that they will have a common ground for meeting and interacting with each
other.
OUR PAYROLL SYSTEM
Upon
capitalization, our Payroll System will constitute one of the world’s most
comprehensive pay packages and definitely, one of the
most rewarding.
All
staff members will be entitled to monthly salaries, which will include:
|
Basic Pay |
– 50% of
Consolidated Pay p.m. |
|
House Allowance |
– 40% of
Basic Pay p.m. |
|
Travel Allowance |
– 30% of
Basic Pay p.m. |
|
Duty Allowance |
– 20% of
Basic Pay p.m. |
|
Entertainment Allowances |
– 10% of
Basic Pay p.m. |
|
Tax Benefits |
– 30% of
Consolidated Pay p.m. |
In
addition, all staff members will be entitled to annual benefits, which will
include:
|
Medical Allowance |
– 120% of
Consolidated Pay |
|
Leave Allowance |
– 100% of
Basic Pay |
There
will be an additional pay that will come through team performance where the
staff members may earn up to 30% of their salaries. This will be determined by
evaluating team performance through a team score with the number of team
members. The score will determine the pay increment per month. If a team
maintains a high toward the team’s synergy. Appraisals of each team will
be carried out by a superior team, a similar team and
a subordinate team simultaneously. These teams will be given the discretion to
award points within the specified range while taking into
account the performance of the team as a whole.
The
pay package will be complemented by a substantial benefits scheme for all staff
which will include medical benefits, terminal benefits, loan entitlements, imprest benefits, child care
schemes, bonuses, paid up family score for a quarter, it will be awarded an
increment according to the stars gained in that quarter. The performance of a
team will be determined by the members through the development of their skills,
services and strategies vacations and tours which will be awarded as additional
incentives for performance growth. The medical benefits will include sickness
allowances, chronic illness allowances and an annual medical allowance.
The
terminal benefits will include pension schemes, demise allowances and terminal
illness allowances. The childcare schemes will include pa/maternity allowances,
day care facilities and child care allowances. Advance
facilities will also be given to staff at preferential rates for emergencies,
car purchase, home ownership and startup capital. There will also be a
comprehensive severance pay package that includes a lump-sum equivalent to
three months’ gross pay and a career placement assistance program, which will
incorporate a career development-training schedule free of charge by ALKEBULAN.
CONSOLIDATED PAY
This
is generally projected to be developed to match 20% of Gross Annual Revenues
& thus be adjusted and structured to be performance based.
However,
in order to establish ALKEBULAN as an international organization, whose
compensation system is based on international standards, start-up consolidated
pay ranges are as follows, (Kenya Pound Ke£:KShs.20)
|
Senior Staff: |
Pay Code S205-S255 |
[Kenya Pounds
£2,700,000 to £3,000,000, Per Annum] |
|
Strategic Staff: |
Pay Code S154-S204 |
[Kenya Pounds
£2,100,000 to £2,400,000, Per Annum] |
|
Support Staff: |
Pay Code S103-S153 |
[Kenya Pounds
£1,500,000 to £1,800,000, Per Annum] |
|
Specialist Staff: |
Pay Code S52-S102 |
[Kenya Pounds
£900,000 to £1,200,000, Per Annum] |
|
Subordinate Staff: |
Pay Code S1-S51 |
[Kenya Pounds
£300,000 to £600,000, Per Annum] |
|
Basic Salary |
– 50% of
Consolidated Pay |
|
House Allowance |
– 40% of
Basic Salary |
|
Travel Allowance |
– 30% of
Basic Salary |
|
Duty Allowance |
– 20% of
Basic Salary |
|
Entertainment Allowance |
– 10% of
Basic Salary |
|
|
|
|
Consolidated Pay |
– Includes a
30% Tax Benefit |
|
Medical Benefit |
– 120% of
Consolidated Pay |
|
Leave Allowance |
– 100% of
Basic Pay |
|
Credit Line Facility |
– 1 x
Monthly Gross Pay |
[1% Interest per
Annum, 30 Days Repayment Term] |
|
Emergency Facility |
– 1 x
Monthly Gross Pay |
[0% Interest per
Annum, 90 Days Repayment Term] |
|
Capital Facility |
– 1 x Annual
Gross Pay |
[2.5% Interest per
Annum, 5 Years Repayment Term] |
|
Housing Facility |
– 10 x
Annual Gross Pay |
[5% Interest per
Annum, 30 Years Repayment Term] |
|
Vehicle Facility |
– 3 x Annual
Gross Pay |
[3% Interest per
Annum, 3 Years Repayment Term] |
|
CORPORATE PROFILE 2023
| PRIVATE PLACEMENT
OPPORTUNITY PROGRAMS | KYC COMPLIANCE PACKAGE 2023 Alkebulan Investments Reserve Limited, is a PRIVATE LIMITED LIABILITY COMPANY, No. PVT-Y2ULBK5Z, incorporated on 26
January 2022, under the Companies Act, 2015 of the laws of the Republic of Kenya | Physical Address: Savvprint
Building, Mirema Drive off Thika Road, Nairobi, Kenya | Mailing Address: Post
Office Box 22350 Tom Mboya Street 00400, Nairobi, Kenya | M: +254-729-252856
| URL: www.alkebulanreserve.com | Emails: info@alkebulanreserve.com, invest@alkebulanreserve.com, fund@alkebulanreserve.com, counsel@alkebulanreserve.com |