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Your program has many components of a good compensation program. However, some aspects may need to be refined, depending on your organization’s needs or market.
We have some ideas on how you can strengthen your compensation program. Curious? Read on.
What Could You Do Next?
It’s not enough to know the going salaries for your jobs. While some organizations get by with this approach, in our years of working with thousands of clients worldwide, we haven’t seen an organization that can say this approach works well for them!
We have found that most organizations do not have the proper resources to create a salary scale. Many do not even have enough or the right capacity to put an effective framework in place.
Every organization must invest in creating HR policies and strategies to maintain their competitive advantage and anticipate challenges in growing their business. Specific to salary scale design, organizations need to have policies in place that will govern the design and update of their salary scales.
The actual design of a salary scale is a very creative process. You can design it however you want to target specific needs. However, it must be guided by principles and methodologies that align with your organization’s mission and best practices to build internal team cohesion.
At Birches Group, we have worked with thousands of organizations across markets and sectors to develop salary scales and compensation policies to guide them in managing their pay practices. Whether you have an existing salary scale or are thinking of building one, we can help you get started.
Building Your Scale: Establishing Your Compensation Policy
Curious to learn more?
Your organization’s compensation policy guides your salary scale design process. When developing your compensation policy, a few factors need to be considered. Here’s an article that outlines what you need to keep in mind when developing your compensation policy and reviewing your benefits package.
Send Us a Message
See What a Great Salary Scale Could Look Like for You!
Schedule your free consultation to find out how our scale design specialists can create a salary scale that can address your talent management issues. Book a strategy call with our team to get started.
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