Strategies For Competitive Pay
Our consultants will determine competitive pay levels for each of your jobs through:
1) A review of market rates of pay for each benchmark role. 2) The use of salary surveys which obtain unbiased market rates of pay and bonus in order to maximize your competitive advantage. 3) Through internal comparisons and market data , the consultant will determine appropriate market pay levels for your unique/non-benchmark jobs.
Other considerations in the market review process:
1) Reward Strategies has access to large participant, cross-industry market database. 2) Company provided salary survey information is also helpful in order to have access to results. 3) A variety of sources for each job will give you the best “fair market value”.
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