Congratulations! You have an excellent compensation program. Your organization has all the elements necessary to effectively manage pay and talent in your market.
Although your program is outstanding, there are areas to refine to make it better. Curious? Read on.
Now that you have a compensation policy and a well-balanced salary scale, the next stage is optimizing your pay ranges to manage staff salaries.
Organizations need the right tool and approach to fully utilize their salary ranges and clearly and objectively manage pay. As your people increase their skills, so should their pay movement within their salary grade.
Traditional approaches that use merit increases don’t work well. They fail to achieve the key objectives of the process: to motivate and retain staff and to differentiate between them based on performance. We have a better way.
Using Skills-Based Approach To Pay Management
Curious to find out more?
Here’s an article on why merit increases never work. Our alternative and innovative approach provides a clear framework for organizations to fairly and objectively manage pay increases. It eliminates the guesswork that comes with the traditional “Pay for Performance” approach and keeps staff motivated and empowered.
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Want to See Our Skills-Based Approach in Action?
We’d love to show you how our Community™ Skills tool can work for you. To request a demo of how Community™ Skills can be applied to your organization, book your free consultation with our team or email us to get started.
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