Ten Steps For Building A Salary Structure

Warren Heaps from Birches Group LLC says that there are ten steps to develop a salary structure for your organization:

1. Establish your compensation philosophy
2. Gather market data
3. Identify benchmark jobs
4. Measure your market position
5. Calculate the compa-ratio
6. Check your budget
7. Start allocating
8. Final adjustments
9. Management approval
10. Communicate

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