Description:
Design a competitive salary structure aligned with market trends and internal job grading.
Duration: 8-12 weeks
Major Activities:
- Conduct market salary benchmarking and internal pay equity analysis
- Develop job grading framework and compensation bands
- Align salary structures with business and financial goals
- Define pay progression and adjustment mechanisms
- Communicate new salary structures to leadership and employees
- Implement salary structures with periodic review mechanisms
Deliverables:
- Salary structure and job grading framework
- Market benchmarking and internal equity report
- Pay progression and adjustment policy
- Implementation and communication plan
- Salary review and governance guidelines
Project Tips:
✅ DO:
- Ensure salary structures align with industry standards.
- Maintain transparency to build trust with employees.
- Periodically review and adjust for market competitiveness.
❌ DON’T:
- Ignore internal pay equity—imbalances lead to dissatisfaction.
- Set rigid structures without flexibility for growth.
- Overcomplicate salary bands—keep them practical.