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Salary Benchmarking

Salary Benchmarking

Determining what to pay employees is a two-sided coin. Employers want to pay employees enough to help them to feel valued and avoid them looking for a better offer. But employers are also concerned with over paying employees to the point of unnecessarily inflating payroll and effecting organizational profitability. The best way to work out what you should be paying your employees is to benchmark salaries with other companies that have similar roles by reviewing salary survey data. This ensures that your pay rates are competitive enough to attract and retain high-quality employees without being overly inflated.

Tuesday, December 03, 2013/Author: Moe Harrison /Number of views (20648)/Comments (0)/ Article rating: 4.0
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