How to structure employee compensation
NOVEMBER 7, 2017
Knowing what each job entails and its value to your company helps you benchmark salaries more effectively. There are two ways companies can create their compensation plans for base salary: Benchmarking (or market pricing) where each job is assigned an individual salary range based on market trends. Here are both approaches with examples and how you can combine them: Benchmarking. Benchmarking helps make your salaries more competitive.