As a company evolves, so must its compensation strategy. Business growth, economic changes or the rise of a tough competitor can all spur the need. Consider the going market rates for your positions, using available data and even a consultant’s input. Then group together similarly valued jobs to establish a competitive salary range consisting of a minimum, maximum and midpoint. The midpoint is particularly important because it’s your guideline for slotting positions into the right ranges. For help specific to your company’s needs, please contact us today!
We also briefly discuss some benefits on optimizing your operating cycle.
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