|If my experience in the workplace has taught me anything, it’s that employees tend to care about compensation more than anything else. One thing that can keep your employees’ income concerns at bay, though, is a well-established company compensation plan.
Need some help implementing one? PayScale’s free and downloadable 5 Easy Steps to a Smart Compensation Plan breaks down the following steps:
- Plan ahead and ensure buy-in from company leadership.
- Age and weigh your compensation data.
- Calculate the midpoint of a salary range.
- Perform compensation analytics.
- Stay consistent and perform regular updates.
Click here to request your free copy of 5 Easy Steps to a Smart Compensation Plan.