ERC will design or modify your existing salary structure based on industry best practices, and ensure it’s an effective tool for attracting and retaining talent.
What is a Salary Structure and why should we have one?
- A salary structure is a hierarchy of jobs and salary ranges for an organization. The design of a salary structure should be aligned with your organizations Total Rewards Strategy, and support competitive pay levels and internal equity or any unique needs of an organization.
- A salary structure provides a foundation for pay policy decisions and a framework for fair and consistent pay practices.
- A salary structure typically includes salary ranges with a minimum, midpoint and maximum salary for jobs with similar levels of pay in the competitive marketplace.
- A salary structure establishes and defines pay levels for jobs with career paths or supervisory relationships.
What will my organization receive throughout this project?
- Market-Based Salary Structure: Industry best practice design of a market-based salary structure that supports all levels of your organization—from non-exempt through executive.
- Employee Pay Analysis: Employee pay analysis to identify and evaluate job placement in the salary range, determine pay gaps, and to ensure the structure design is realistic and practical for your organization.
- Implemention: Specific implementation recommendations and support.
- Training: Onsite training and communication support for managers and employees.
