Base Pay

MARKET PRICING

Market pricing is the art and science of benchmarking what your jobs pay against the external market. The most important part of using market pricing to determine the value of your jobs is knowing the factors that drive pay in your industry, your organization, and in some cases, for individual jobs.

Getting it right means you know how to pay your employees in keeping with your business strategy, compensation philosophy and budget. As one of our clients put it, “Knowing I had good information about how much to pay each employee gave me confidence in my recommendations… Having the right information is priceless.”

SALARY STRUCTURES

Having a salary structure gives you a framework for making pay decisions. We create market-driven salary structures that help you be competitive. Other benefits of a salary structure:

• Guides the pay offered to new hires or newly promoted  employees
• Helps with fair and equitable administration of pay
• Provides a foundation for market pay adjustments and  annual raises