If the current salary structure needs improvement, use this research to determine if pay bands are right for your organization. Once you have deemed their appropriateness, determine which type of pay bands will best suit the needs of the organization while balancing labor costs and supporting competitive strategy. This storyboard will help you:
- Learn the value of pay bands.
- Evaluate and select a best-fit pay band structure.
- Create pay bands that support the organization.
Creating pay bands is a manageable task when you work from a comprehensive process. HR professionals can do it internally, with the support of a third party, or outsource it. Either way, the organization will benefit from a sound salary structure.